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I nternational Trade Law

Presenting By:
Faisal Javed Virk MBA3Y02103152
Khalid Yousaf MBA3Y02103173
Asghar Ali MBA3Y02013098
Syed Ali Faizan Kazmi MBA3Y02103113
Sehrish Imtiaz MBA3Y02103123
Shamsa Iqbal MBA3Y02013
Sobia Siddique MBA3Y02103141


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I nternational Trade Law

International Trade law is
dealing with
International sale of goods,
the exchange of goods and
services between countries.

Key stages in a typical transaction of the
international sale of goods


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I nternational Trade Law

Negotiations between seller and buyer
Making the sales contract between parties
Shipment of the goods and carriage of the
goods
Problems associated in the international trade
transaction
An international sale will usually involve a sea transit
Customs need to be cleared
Import and export licenses need to be obtained.
International sales raise conflict of laws problems
Financial problems
Fluctuations in currency
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I nternational Trade Law

I NCOTERMS or international commerce terms
International Chamber of Commerce (ICC) has
introduced quite a number of special trade terms in use
for international trade.
These terms have simplified the sale of goods abroad.
They are in universal use in trade transactions
Two extremely useful trade terms, namely:

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I nternational Trade Law

FOB
CIF
FOB ( free on board)

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I nternational Trade Law

In a FOB contract, the seller has to put the goods on
board a ship.

The price under an FOB contract includes the cost of the
goods and all expenses up to the board the ship.

Once The delivery is completed then the property and
the risk pass to the buyer.

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I nternational Trade Law

FOB ( free on board)
Duties of the F.O.B buyer
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I nternational Trade Law
Nomination of a ship
To secure shipping space
To obtain the necessary import license
Pay any cost incidental to the shipment

Pay the seller for the goods in accordance with the contract

Duties of the FOB seller

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I nternational Trade Law

To ship the goods of contract description at the named port of
shipment
To ship goods on time
To obtain Export licenses
To deliver the necessary documents
CI F contracts

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I nternational Trade Law

CI F contracts
CIF stands for



The letter CIF represents the three contracts involved
The cost the sale contract
Insurance-the contract of insurance
Freight- the contract of carriage.

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I nternational Trade Law

cost, Insurance
freight
Shipping documents involved in CIF contract

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I nternational Trade Law

The commercial invoice
A shipped bill of lading
policy of insurance during the sea voyage
Certificate of quality
Certificate of inspection
Certificate of origin

Duties of the seller under a CI F contract

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I nternational Trade Law

To ship the goods according to the contract description
To enter into a contract of carriage in order to deliver the goods.
To ensure that the goods are properly insured under a contract of
insurance

To procure and prepare proper shipment documents.

Duties of the buyer in a CI F contract

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I nternational Trade Law

Payment against documents
The buyer must bear the loss according to
contract
Buyer must take delivery
Import licenses

REMEDI ES I N I NTERNATI ONAL SALES
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I nternational Trade Law

Buyers remedies under CIF contract
Rejection of the goods on arrival if not
according to contract.
Damages for non-delivery of the goods.
Damages could also be claimed for late
delivery.
the buyer can reject the documents if the
seller has not tendered the right documents

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I nternational Trade Law

REMEDI ES I N I NTERNATI ONAL SALES
Sellers remedies under CIF contract
Action for the price
Damages for non-acceptance

Damages for breach of warranty

Other conditions affecting trade law
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I nternational Trade Law

THE VIENNA CONVENTION ON THE INTERNATIONAL SALE OF GOODS
1980
World trade organization
INTERNATIONAL CARRIAGE OF GOODS BY AIR
INTERNATIONAL CARRIAGE OF GOODS BY RAIL

INTERNATIONAL CARRIAGE OF GOODS BY ROAD



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I nternational Trade Law
in Pakistan
In Pakistan international trading is done under:
International trade law.
THE VIENNA CONVENTION ON THE
INTERNATIONAL SALE OF GOODS 1980.
Import Export control Act 1950 (Last
Updated : Apr 19, 1950)
Export control Act 2004 (Last Updated : Sep
27, 2004)
Bodies implementing trade laws in Pakistan
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I nternational Trade Law

Export Promotion Bureau of Pakistan
TDAP (Trade development authority of Pakistan)


Local Courts.




Thank you
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