1. International Contracts Lecture 6 Case 6 Matti Rudanko

2. Lecture 5: Slides Slide sets: 3, 4 (Bill of lading, letter of credit) International Contracts Lecture 6 2

3. Search of Regulation Material Links to Finnish legislation translations : http://www.finlex.fi/en/laki/kaannokset/haku/?search%5Btype%5D=pika&se arch%5Bpika%5D=Act+on+Investment+Firms&submit=Search http://www.finlex.fi/en/laki/kaannokset/haku/?search%5Btype%5D=pika&se arch%5Bpika%5D=Act+on+Investment+Firms&submit=Search The Finnish Sale of Goods Act: http://www.finlex.fi/en/laki/kaannokset/1987/en19870355.pdf http://www.finlex.fi/en/laki/kaannokset/1987/en19870355.pdf The Finnish Contracts Act: http://www.finlex.fi/fi/laki/kaannokset/1929/en19290228.pdf http://www.finlex.fi/fi/laki/kaannokset/1929/en19290228.pdf CISG: http://www.cisg.law.pace.edu/cisg/text/treaty.htmlhttp://www.cisg.law.pace.edu/cisg/text/treaty.html Unidroit Principles: http://www.unidroit.org/english/principles/contracts/principles2010/integralv ersionprinciples2010-e.pdf http://www.unidroit.org/english/principles/contracts/principles2010/integralv ersionprinciples2010-e.pdf Links to EU legislation: http://eur-lex.europa.eu/en/tools/sitemap.htm (by indicated search keys, e.g. document number)http://eur-lex.europa.eu/en/tools/sitemap.htm International Contracts Lecture 6 3

4. Case: Bill of Lading, Letter of Credit Task: 1.Bill of Lading in International Trade 2.Interplay of Sales and Carriage Contracts 3.Incoterms 4. Damages Liabilities in Sales and Carriage Contracts 5. Letter of Credit

5. Other Material and Further Reading Exam textbook: Murray, Carole, Holloway, David, Timpson-Hunt: Schmitthoff s Export Trade: The Law and Practice of International Trade Please make use of your knowledge of IB, Accounting, Finance, Logistics, and other business economic or legal know how International Contracts Lecture 6 5

6. Possible Tasks and Questions International Contracts Lecture 6 6 Please account for the: 1. Role of Bill of Lading, Haag – Visby Rules Interplay of Sales and Carriage Contracts 2. Damages Liabilities in Sales and Carriage Contracts 3. Incoterms 4. Letter of Credit System

7. Topics and Issues Sales and Carriage Contracts The contractual logistics system of international trade Incoterms Damages Liabilities of sales and carriage contracts Bill of Lading Role of bill of lading in international trade Haag – Visby rules on carrier liabilities Protection of carrier, buyer and seller Letter of Credit Letter of credit and other payment systems Types of letter of credit Letter of credit as risk management tool Standby l/c (security) International Contracts Lecture 6 7