Terms and Conditions in a Contract for the International Sale of Goods

Galina Aleksandrovna Orlova, Yuri Anatolievich Savinov, Aleksander Nikolayevich Zelenuk and Viktor Nikolayevich Kirillov
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Galina Aleksandrovna Orlova: Russian Foreign Trade Academy, Moscow, Russia
Yuri Anatolievich Savinov: Russian Foreign Trade Academy, Moscow, Russia
Aleksander Nikolayevich Zelenuk: MGIMO University, Moscow, Russia
Viktor Nikolayevich Kirillov: State University of Management, Moscow, Russia

Russian Foreign Economic Journal, 2022, issue 2, 55-64

Abstract: Given the increased competition in the global market, both the seller and the buyer strive to protect their interests as much as possible when fulfilling the contract. To this end, they pay particular attention to the wording of the main sections of the contract. Errors in this area can lead to the loss of the goods for the seller and to the loss of the paid money for the buyer. First of all, the parties carefully choose a law that will govern the contract. Each party seeks to specify the law of its country as the applicable law under the contract, so that in the event of a conflict it is easier to navigate the national laws and regulations to protect its rights. Besides, the parties carefully draft the preamble of the contract, the subject of the transaction, the quantity, the quality and, in general, format the contract clauses.

Keywords: Contract for the international sale of goods; contract execution; contract preamble; protection of the interests of the seller and buyer. (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2022_02_55-64

DOI: 10.24412/2072-8042-2022-2-55-64

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