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Encyclopedia > International trade law

International trade law includes the appropriate rules and customs for handling trade between countries or between private companies across borders. Over the past twenty years, it has become one of the fastest growing areas of international law. This article or section is in need of attention from an expert on the subject. ...

Contents

Overview

International trade law should be distinguished from the broader field of international economic law. The latter could be said to encompass not only WTO law, but also law governing the international monetary system and currency regulation, as well as the law of international development. A monetary system secures the proper functioning of money by regulating economic agents, transaction types, and money supply. ... This article is about International Development. ...


The body of rules for transnational trade in the 21st century derives from medieval commercial laws called the lex mercatoria and lex maritima — respectively, "the law for merchants on land" and "the law for merchants on sea." Modern trade law (extending beyond bilateral treaties) began shortly after the Second World War, with the negotiation of a multilateral treaty to deal with trade in goods: the General Agreement on Tariffs and Trade (GATT). This article needs cleanup. ... Mushroom cloud from the nuclear explosion over Nagasaki rising 18 km into the air. ... The General Agreement on Tariffs and Trade (typically abbreviated GATT) was originally created by the Bretton Woods Conference as part of a larger plan for economic recovery after World War II. The GATTs main purpose was to reduce barriers to international trade. ...


International trade law is based on theories of economic liberalism developed in Europe and later the United States from the 18th century onwards. This article or section does not cite any references or sources. ... For other uses, see Europe (disambiguation). ... (17th century - 18th century - 19th century - more centuries) As a means of recording the passage of time, the 18th century refers to the century that lasted from 1701 through 1800. ...


World Trade Organization

In 1995, the World Trade Organization, a formal international organization to regulate trade, was established. It is the most important development in the history of international trade law. The World Trade Organization (WTO), (OMC - Spanish: , French: ), is an international organization designed to supervise and liberalize international trade. ...


The purposes and structure of the organization is governed by the Agreement Establishing The World Trade Organization, also known as the "Marrakesh Agreement". It does not specify the actual rules that govern international trade in specific areas. These are found in separate treaties, annexed to the Marrakesh Agreement. The Marrakesh Agreement, signed in Marrakech, Morocco, on April 15, 1994, established the World Trade Organization, which came into being upon its entry into force on January 1, 1995. ...


Trade in goods

The GATT has been the backbone of international trade law throughout most of the twentieth century. It contains rules relating to "unfair" trading practices — dumping and subsidies. In economics, dumping can refer to any kind of predatory pricing, and is by most definitions a form of price discrimination. ... In economics, a subsidy is generally a monetary grant given by a government to lower the price faced by producers or consumers of a good, generally because it is considered to be in the public interest. ...


Dispute settlement

Since there are no international governing judges (2004) the means of dispute resolution is determined by jurisdiction. Each individual country hears cases that are brought before them. Governments choose to be party to a dispute. And private citizens determine jurisdiction by the Forum Clause in their contract. Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...


Besides forum, another factor in international disputes is the rate of exchange. With currency fluctuation ascending and descending over years, a lack of Commerce Clause can jeopardize trade between parties when one party becomes unjustly enriched through natural market fluctuations. By listing the rate of exchange expected over the contract life, parties can provide for changes in the market through reassessment of contract or division of exchange rate fluctuations.


Academic resources

British publisher joined the Thomson Organization in about 1987. ...

Industrial resources

  • Global Trade and Customs Journal, Kluwer Law International (subsidiary of Wolters Kluwer)
  • Journal of International Law and Trade, ISSN: 1496-5208, Estey Centre
  • Journal of World Trade, Kluwer Law International

Wolters Kluwer N.V. (Euronext: WKL) is one of the worlds leading publishers and providers of information products and services. ...

See also


  Results from FactBites:
 
International trade law - Wikipedia, the free encyclopedia (370 words)
International trade law should be distinguished from the broader field of international economic law.
The latter could be said to encompass not only WTO law, but also law governing the international monetary system and currency regulation, as well as the law of international development.
International trade law is based on theories of economic liberalism developed in Europe and later the United States from the 18th century onwards.
International Trade Law Guide (9191 words)
International trade is a complicated area of law to research because there are numerous levels of trade organizations and interactions.
The ASEAN Free Trade Area was initiated in January 1992 with the intent of reducing comprehensive tariff reduction in the region.
Since the purpose of the Model Law was to assist in developing uniformity of national laws on international arbitration, the authors of this volume determined that it would be useful to create a resource that would bring together the decisions of the various countries applying the provisions of the Model Law.
  More results at FactBites »

 

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