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Secrets of International Trade
Commercial Disputes and Arbitration
International import export arbitration
clause is usually included in formal written sales contracts, agency and distributorship agreements.

All disputes arising in connection with the present contract shall be settled finally under the rules of Conciliation and Arbitration of the International Chamber Commerce by one or more arbitrators appointed in accordance with the rules.

Any third party may, with mutual consent, appointed to act as the arbitrator who will then examine the dispute and make a decision binding upon the two parties in dispute.

Many firms include in formal sales contracts or agreement an arbitration clause that requires the arbitrators to follow the Rules of Conciliation and Arbitration laid down by the International Chamber of Commerce.

"Inevitably, disputes arise in the execution of a contract
and can be taken to court or referred to arbitration."

If a contract does not contain the arbitration clause, the parties can still agree to submit the dispute to arbitration.

 
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Marine Insurance Defined - Read more
"...to exporter's advantage to be responsible for insurance - it cannot prevent accidental losses but can prevent financial losses..."

When goods have to be shipped to a foreign country, there is always the risk that they may be damaged, destroyed, or stolen and may vary, according to the country of destination, the route and method of shipment.

To be protected from financial loss as a result of this risk, either the firm that sells the goods or the firm that buys them, arrange for insurance. It is to the exporter's advantage to be responsible for placing the insurance on the shipment.

Such insurance cannot prevent accidental losses but can provide reimbursement for financial loss should the exporter's shipment somehow fail to arrive or arrive intact.

For shipments to countries overseas, the type of insurance that is arranged is known variously as "marine insurance". It is also sometimes called "ocean marine insurance" to distinguish it from "inland marine insurance".

Basically, "marine insurance" is a contract between one party (usually the exporter) and another party (an insurance company).

In return for the payment of a fee (the insurance premium) by the insured (exporter), the insurance company agrees to reimburse the insured in full or in part for any financial loss suffered from various specified risks.

  Exporting Starts Here

Export Marketing Strategies

How to manage Export Promotion?

Documentation for Exporting

How to Draft an Agency Agreement?

Export Trade Barriers & Trade Blocks

Getting Paid for Exporting

Export Insurance

How to Develop an Export Market?

How to Conduct Export Research?

How to calculate Costing for Export?

Hazards of Export Packing & Shipping

Export Shipment and Transportation

4 P's of Business Correspondence

About Pallet a transportable platform

About APEC   The EEC   InCoTerms 2000

 

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