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Introduction 1

1 International Sale of Goods under Domestic Law 3

Introduction 3

Conventions relevant to international sale of goods 4

Effect of customs 6

Relevance of domestic law 6

What is an international sale of goods? 8

Application of Incoterms 2000 in international sales 9

Legal framework for international sale of goods in Australia 37

International sale of goods and general contract law 38

International sale of goods and the Australian sale of goods legislation 40

International sale of goods and the Chinese Code of Contract Law 57

2 Contracts of Sale under the CISG 77

Introduction 77

Application of the Convention 78

Modifying or varying the effect of the provisions of the Convention 85

Formation of a contract 87

Fundamental breach under the Convention 96

Performance of contract 101

Remedies 133

The passing of risk under the Convention 163

Preservation of goods under the Convention 167

Conclusion:potential use of the Convention through modification and interpretation 171

Incorporation of the Convention into Australian law 175

Constitutional implications of the CISG 175

3 Contracts Relating to Intellectual Property 177

Introduction 177

A brief description of intellectual property 178

Franchising agreements 178

Licensing agreements 192

Distribution agreement 202

Transfer of technology agreements 208

E-commerce 215

4 Contracts for Carriage by Sea,Air and Land 223

Introduction to the Law of Carriage 223

Carriage of goods by sea 228

Contracts for the carriage of goods by air 296

Contracts for carriage by land 329

Carriage of goods by multimodal transport 351

5 Means of Payment in International Trade 358

Overview 358

The major concerns in effecting payment in international trade 358

The basic methods of payment in international trade 359

International legal framework for payment in international transactions 360

Means of payment under domestic law 363

Defining terms in effecting payment 366

Payment by cash in advance 371

Payment by open account 371

Payment by collection 372

Payment by way of documentary credit 397

Means of payment under the UN Conventions 426

6 Introduction to International Banking and Financing 438

Review of international banking and financing system 438

International financial centres and international finance 441

Issue of bonds and international finance 442

International syndicated loans and international finance 456

The International Monetary Fund and international finance 459

Exchange control and international finance 461

Foreign exchange risks 462

Factoring in international trade 470

Leasing in international trade 476

Forfaiting in international trade 482

7 Marine Insurance,Aviation Insurance and International Trade 486

Introduction 486

Explaining marine insurance 487

General principles for the making of a marine insurance contract 493

Making of a cargo insurance contract 494

Making of a hull insurance contract 496

Legal framework for international marine insurance 496

Explaining an insurable interest 499

Explaining 'marine risks' 501

Categories of marine insurance contracts 504

Forms of marine insurance documents 508

Assured's duty to disclose the relevant information 510

Insurer's duties and inherent vice 514

Broker's duties to assured and insurer 515

Reinsurance and insurer's liability 516

Burden of proof as to the cause of the loss 517

Included and excluded losses 518

Categories of losses 521

Determination of indemnity 523

Assignment of policy 527

Insurer's right of subrogation 527

Aviation insurance 528

8 Foreign Investment Law 538

Introduction 538

Explaining foreign investment 540

Relationships between foreign investment and host country 541

Forms of foreign investment 543

International legal framework for foreign investment 550

The WTO and foreign investment 564

Selected issues for the regulation of foreign investment 572

Means for protection of foreign investment 574

International Court of Justice and foreign investment 576

9 The World Trade Organisation 578

Introduction 578

A brief history of the WTO 578

Major functions of the WTO 579

The WTO Agreement and its annexes 581

Structure of the WTO 582

General Agreement on Tariffs and Trade 588

GATT Agreement 590

General Agreement on Trade in Services(GATS) 607

TRIPs Agreement 613

Dispute settlement within the WTO 617

The WTO and competition law 628

The WTO and other international trade organisations 630

10 Regional Trade Organisations 631

Introduction 631

The European Union 631

Asia Pacific Economic Cooperation(APEC) 644

Association of South East Asian Nations(ASEAN) 648

North America Free Trade Agreement(NAFTA) 652

Australia-New Zealand Closer Economic Relations 657

11 International Commercial Litigation and Conflict of Laws 660

Defining international trade and commercial disputes 660

Resolving disputes between governments 661

Resolving disputes involving private parties 662

Defining the means of dispute settlement 662

Defining international commercial litigation 664

Domestic courts and international commercial litigation 665

Functions of the courts in international commercial litigation 666

Contract disputes and conflict of laws 667

Tortious disputes and conflict of laws 675

Certain exceptions 677

Disputes relating to real estate and conflict of laws 678

Disputes relating to chattels personal and conflict of laws 679

Enforcement of foreign judgment 681

Enforcement of foreign judgments in Australia 684

12 Alternative Means of Settling International Commercial Disputes 690

Defining alternative means 690

Defining international commercial arbitration 690

Legal framework for international commercial arbitration 693

The Hague Conventions 704

Major international arbitral institutions and their functions 705

Major procedural issues in international commercial arbitration 712

The New York Convention and international commercial arbitration 722

International commercial arbitration and the CISG 729

Other alternative methods of settling international commercial disputes 730

Index 733