Risks and issues when drafting contracts for international sale of goods
Risks and issues when drafting contracts for international sale of goods
International trade refers to the exchange of products and/or services with the following key elements: buyer and seller; export and import. Usually, the contracting parties are from two different countries in which they are incorporated under different laws. Hence, the contracting parties require a contract for the international sale of goods. This contract generally focuses on the benefits of a transaction between the contracting parties and on the potential risks that may arise between buyer and seller in the transaction, etc. Therefore, the contract for international sale of goods plays a vital role and as a bridge in international trade.