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What is Lex Mercatoria?

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Lex Mercatoria is trade law composed of a multitude of international agreements and trade customs that complement domestic laws.

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What governs contracts between two parties in the same country?

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The law governing the execution of the contract is determined by that country's legal system.

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What is the Uniform Commercial Code (UCC)?

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The UCC is the set of federal laws that govern commercial contracts in the United States.

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What is the Vienna Convention?

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The Vienna Convention, also known as the CISG, governs contracts of sale between parties in different countries.

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What are Incoterms?

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Incoterms are International Commercial Terms that define the responsibilities of buyers and sellers in international transactions.

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What is a distribution contract?

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A distribution contract is an agreement between an exporter and an overseas intermediary, either an agent or a distributor.

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What is the difference between an agent and a distributor?

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An agent represents the exporter and earns a commission, while a distributor purchases goods to resell them.

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What is a force majeure clause?

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A force majeure clause absolves either party from fulfilling their obligations in case of events beyond their control.

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What is the significance of the choice of law clause in international contracts?

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The choice of law clause specifies which country's laws will govern the contract in case of a dispute.

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What is the purpose of an arbitration clause?

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An arbitration clause specifies that disputes will be resolved through arbitration rather than litigation.