International Contracts - Global Supply Chain Management...

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Global Supply Chain Management SCM 475 International Contracts
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Lex Mercatoria International Sales Contracts Agency vs. Distributorship Distribution Contracts Termination Arbitration Mediation
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Lex Mercatoria Lex Mercatoria  is the sum total of all the international agreements,  international conventions, and other international trade customs that  complement the domestic laws of any given country, and to which all  international trade transactions are subject.  It is difficult to comprehensively grasp  Lex Mercatoria  because it  can include agreements from many different areas, such as the  United Nations, World Trade Organization, multinational  conventions, free trade agreements, and any number of bi-lateral  agreements. 
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CISG and UCC The United Nations’ Convention for the International Sale of Goods  (CISG) was adopted in 1980 as a way to oversee international  contracts.  The CISG allows parties from different countries to enter into contracts  with reasonable assurance that the provisions of the contract will be  enforced. More than 60 countries have ratified this agreement. Trade between  these countries represents 80 percent of all word trade. The United States has only partially adopted the CISG.
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The Uniform Commercial Code (UCC) is the commercial law of the  United States. This is the law that is typically used to form contracts in  domestic transactions.  While the United States has not adopted the entire CISG, many  American traders elect to follow it anyway, allowing it to apply to their  contract. The CISG is used for international transactions and varies from  the UCC is some significant ways.  CISG and UCC
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CISG vs. UCC CISG UCC A positive response asking for  change is considered a rejection. A contract is not been accepted until  both parties agree to all terms. Offer is open until a certain date and  cannot be withdrawn until said date. The buyer is allowed to unilaterally  apply a price reduction to the amount  agreed upon in the contract for  nonconforming or damaged goods.  Contracts can be formed in writing or  through oral communication.
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