Book contents
- Frontmatter
- Contents
- List of figures and tables
- List of case studies
- Preface
- Acknowledgements
- List of abbreviations
- Chapter 1 EU institutions and law making
- Chapter 2 Contracts for the sale of goods to an EU buyer
- Chapter 3 Transport of goods to an EU buyer
- Chapter 4 Customs law and procedure within the EU
- Chapter 5 Payment and risk management in international sales
- Chapter 6 Sales to the EU using an EU representative
- Chapter 7 Entering the EU market via franchising arrangements
- Chapter 8 Establishing a permanent presence in the EU
- Chapter 9 Resolving a dispute with an EU firm
- Index
Chapter 2 - Contracts for the sale of goods to an EU buyer
Published online by Cambridge University Press: 05 June 2012
- Frontmatter
- Contents
- List of figures and tables
- List of case studies
- Preface
- Acknowledgements
- List of abbreviations
- Chapter 1 EU institutions and law making
- Chapter 2 Contracts for the sale of goods to an EU buyer
- Chapter 3 Transport of goods to an EU buyer
- Chapter 4 Customs law and procedure within the EU
- Chapter 5 Payment and risk management in international sales
- Chapter 6 Sales to the EU using an EU representative
- Chapter 7 Entering the EU market via franchising arrangements
- Chapter 8 Establishing a permanent presence in the EU
- Chapter 9 Resolving a dispute with an EU firm
- Index
Summary
INTRODUCTION
There are several key matters that need to be agreed upon by a buyer and a seller in an international sale of goods transaction. It will be seen that each of the issues discussed below will frequently involve obligations on the part of both parties. The important areas for agreement could be listed as follows:
the identity of the parties
the description of the goods
time and place for delivery of the goods
transport arrangements for the goods
inspection of the goods by the buyer
the price and how the price is to be paid
the passing of title in the goods from seller to buyer
the respective obligations of the parties if unforeseen events make performance impossible
the law that will apply to the contract
the type of dispute resolution mechanism that will be used.
Firms that have been engaged in international business transactions for many years will most likely have developed a standard form of international contract of sale that is forwarded to a potential buyer. The terms and conditions are likely to contain much more than the basic terms and conditions listed above. For example, there may be detailed provisions to provide for delay in delivery, such as requiring the seller to pay damages for each day delivery of the goods is delayed. In addition, there might be a provision that the buyer will pay interest for every day in which they are late with payment after the due date if payment is made after the goods are received.
- Type
- Chapter
- Information
- European Union Law for International BusinessAn Introduction, pp. 21 - 34Publisher: Cambridge University PressPrint publication year: 2009