International Sales Law
by Jon Kihlman
A Crucial Necessity for Procurement Professionals
A solid understanding of International Sales Law is indispensable for anyone in the procurement field. This legal framework not only governs the way international transactions are conducted but also ensures their success and stability. Let's delve into why this knowledge is crucial, focusing on the role of law in business transactions, choice of law, procedural matters, and the nuances of contractual frequency.
International Sales Law serves as the backbone of global trade, providing a consistent and predictable framework for conducting business across borders. It outlines the rights, obligations, and remedies available to parties in a transaction, ensuring that each party is aware of its responsibilities and the consequences of non-compliance. This legal structure is crucial for fostering trust and confidence among international trading partners, which is vital for the smooth operation of global markets.
The choice of law in a contract is a pivotal decision. It determines which jurisdiction's laws will govern the agreement and how disputes will be resolved. This choice can significantly impact the negotiation and enforcement of the contract. For procurement professionals, understanding the implications of different legal systems and choosing an appropriate jurisdiction can mitigate risks, reduce potential legal conflicts, and ensure more favorable outcomes.
Early attention to procedural matters in a contract can prevent future disputes and legal complications. This includes clear definitions of terms, compliance with international trade laws, and setting out dispute resolution mechanisms. Procurement professionals must be adept at identifying and addressing these issues early in the contract drafting process, ensuring all legal requirements are met and protecting the interests of their organization.
The role of law in business transactions, choice of law, procedural matters and contractual frequency.
• What good does law do?
• The choice of law sets the stage for the whole transaction.
• The importance of early attention to procedural matters.
• The difference between long-term contracts and single purchases.
The 4 purposes of contract terms (20 minutes).
Is there a home advantage to be considered the deciding on choice of law?
Choice between court and arbitration, mediation, jurisdiction and related matters
Single delivery, multiple deliveries and frame agreements
Course Quiz
Jon's next recommended step.
International Sales Law for Procurement Professionals by Jon Kihlman
Learn How to Source is an online platform based in Sweden, offering a range of procurement courses accessible globally. It serves as a community where procurement experts share their knowledge through online courses, designed for various experience levels from introductory to expert. Courses are concise, about 30 minutes each, and cover different aspects of procurement, tailored for different buyer roles. The courses focus on practical knowledge, presented by seasoned professionals, and include quizzes and certificates. They can be accessed from any device, emphasizing microlearning for flexibility and efficiency.