International Law

International Law - ACS-276a INTERNATIONAL LAW 1....

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ACS-276a INTERNATIONAL LAW 1. Introduction $ increasingly our business environment is becoming more global $ in Canada, our exports equal more than 1/3 of our GDP $ the US takes 3/4 of our exports and provides 2/3 of our imports $ we are traditionally an exporter of raw materials and minerals (2 nd largest) but we have also become an exporter of manufactured goods, chemicals and certain technology $ the legal framework in which international business takes place is complicated and even more uncertain than ordinary domestic business law $ issues in international law: contract law for international trade, government regulation of international trade, the role of international bodies (like WTO, NAFTA, etc.), rules relating to foreign investment and ownership, commercial arbitration and dispute resolution 2. How Companies go International $ companies may find foreign customers for their products or may identify a product or service that they are better or more cheaply able to import from abroad $ when companies expand into different markets, they need knowledge of international trade contracts and business matters relating to exports and imports $ as they expand, they may need a rep or agent in the foreign location - this requires knowledge of the customs and commercial behaviour of the foreign marketplace $ if they continue to expand, they may need to setup a branch office or subsidiary - this requires knowledge of the same legal issues abroad as they would need to know here (e.g. contract law, employment law, sale of goods, insurance, agency, incorporation. ..) 3. What makes International Law Different? $ there is always the issue of which law will apply to a given situation or transaction $ there is uncertainty in the way the law will be applied (e.g. courts, government, etc.) $ there is often different types and degrees of government regulation $ there are also bilateral agreements and treaties between and among different countries 4. Export Contracts $ can be for goods or services $ may be done directly or through an agent or rep $ shipping is usually a concern $ the contract between buyer and seller is the important instrument $ it = s a contractual relationship - normal principles apply (with international rules on top) $ there are often several contracts involved - purchase/sale, shipping, financing, insurance $ there are experts (freight forwarders, customs brokers) who can greatly assist 5. Which law applies? $ since laws may differ greatly (e.g. frustrated contracts, unpaid vendors, security interests, risk of loss, implied terms), which law will apply is a critical question $ in addition, different places may have different rules on which law applies $ in Canada and most other countries, the law of the contract is the law the parties
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International Law - ACS-276a INTERNATIONAL LAW 1....

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