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Secrets of International Trading ©
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"Working knowledge of a contract is essential. You could find yourself in legal hot water that even the best attorneys can't get you out..." "in business law an offer once accepted by the buyer, an export contract comes into being" When the export contract is made quickly and informally, some of the conditions are either assumed or clarified later which, of course, may lead to dispute and misunderstanding. One way to avoid misunderstanding is to agree to use what are called General Standard Conditions. |
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These are standardized
contract terms that permit the parties to refer to a pre-established set of rules that can be incorporated into their contract. International Commercial Terms Incoterms is one particular kind of General Standard Conditions if the exporter and buyer agree on an F.O.B. price - it has a clear defined INCOTERMS 2000 meaning and is legally binding.
Exporter Responsibilities |
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