This article explores the critical role of international contracts in facilitating global trade by establishing clear legal agreements between parties from different countries. It examines various types of international contracts, such as distribution, sale, and investment agreements, and highlights key legal concepts like jurisdiction, applicable law, and the impact of international conventions such as the CISG. The article delves into essential contract clauses, including jurisdiction, dispute resolution, and force majeure, while addressing the complexities of cross-border transactions and enforcement challenges. Through a combination of case studies and legal analysis, the article emphasizes the importance of proper negotiation strategies, risk management, and legal frameworks to ensure the enforceability and smooth execution of international contracts.

Introduction
International contracts are agreements between parties from different countries, playing a crucial role in facilitating global trade and cross-border transactions. These contracts form the backbone of international business, enabling companies to establish partnerships, expand into new markets, and secure resources from around the world. Due to the involvement of multiple legal systems, cultural differences, and varying business practices, international contracts require careful drafting and negotiation to ensure clarity, fairness, and enforceability. Their significance lies not only in the economic benefits they bring but also in the need for a thorough understanding of international legal frameworks and risk management strategies to avoid disputes and ensure smooth execution.

International contracts are legally binding agreements between parties from different countries, essential for governing cross-border business transactions. These contracts facilitate international trade by clearly outlining the rights, responsibilities, and obligations of each party involved. Given the complexities of dealing with different legal systems, languages, and cultural practices, international contracts are crucial in minimizing misunderstandings and disputes.

The significance of international contracts extends beyond mere business dealings; they are vital in establishing trust and cooperation between global partners. These contracts also help manage risks associated with currency fluctuations, political instability, and regulatory changes, ensuring that businesses can operate smoothly across borders. In essence, international contracts are foundational to the functioning of the global economy, enabling companies to expand their reach and participate in the international marketplace with confidence.

Different types of international contracts:

• International distribution agreement: A commercial contract providing a good framework for parties to international business relationships. These agreements are based on distributing goods and exist between a supplier and a distributor, in which the supplier can be either a producer of goods or only a reseller.
• Letter of credit: A financial contract between a bank, a customer of the bank, and a beneficiary.
• Investment agreement: A contract to help formalize a transaction between an investor and a company where the investor obtains an ownership interest in the company, in exchange for a type of investment.
• International sale contract: An agreement between a buyer and a seller that identifies the parties in the transaction, the goods or services being sold, the terms and conditions of the sale, and the price to be paid. These contracts are under the rule of the United Nations Convention on Contracts for the International Sale of Goods (CISG). This convention governs only the international sale contracts between businesses, which in the parties' business place is located in the contracting states under the CISG unless the parties have agreed upon the applicable law otherwise.
• Franchise agreement: A contract under which the franchisor grants the franchisee the right to operate a business, or offer, sell, or distribute goods or services identified or associated with the franchisor's trademark.
• Joint venture agreement: A contract between two or more business entities or individuals who enter into a temporary business relationship (joint venture) for achieving a mutual goal.
• Development agreement: A contract between a property owner or developer and a local government.
• Intellectual property license: A contract that allows individuals or businesses to use another's IP rights in exchange for a fee.

Key Concepts: Jurisdiction, Applicable Law, and the Role of International Conventions and Treaties

When dealing with international contracts, understanding jurisdiction, applicable law, and the role of international conventions and treaties is critical.

• Jurisdiction: Jurisdiction refers to the authority of a particular court or legal body to hear and decide a dispute. In international contracts, parties often specify in the contract which country's courts will have jurisdiction in case of a legal dispute. This is crucial because the choice of jurisdiction can significantly impact the legal process, including the interpretation of the contract, the speed of resolution, and the enforceability of judgments across borders.
• Applicable Law: The applicable law is the legal system or body of laws that will govern the contract. Parties to an international contract often choose the law of a particular country to govern their agreement. This choice can influence contract terms, interpretation, and enforcement. Without a clear specification, courts may apply complex rules to determine which country's law is applicable, potentially leading to uncertainty and disputes.
• Role of International Conventions and Treaties: International conventions and treaties, such as the United Nations Convention on Contracts for the International Sale of Goods (CISG), play a vital role in harmonizing and simplifying the rules that govern international contracts. These conventions provide a set of uniform rules that apply automatically to contracts between parties in signatory countries unless they explicitly opt out. This helps reduce legal uncertainty and promotes fairness by ensuring that the same rules apply, regardless of the jurisdiction.

Main Aspects of International Contract

International contracts have many functions in today's transaction world and play an important role in expanding trade between countries by creating legal relationships between participants of the global market. The importance of these contracts has some main aspects, such as:

• Enforceability: Similar to any other contract, parties of an international contract also need to be assured of enforcement of the contract, performance of the other party's obligations and receiving the contract's consideration. Especially in an international contract, where mostly the parties are in or from different countries and legal systems and this difference can cause some uncertainty or hesitation. Therefore, the binding power in international contracts provides a suitable level of confidence and assurance between the parties.
• Parties free will in choosing:
  • The governing or applicable law: For a contract to be properly enforced, there must be an applicable law to govern the contract. As in international contracts, there are some considerable diversities, such as different domicile, nationality, legal systems, and jurisdiction, the parties of an international contract have the right to freely negotiate and choose the applicable law to their contract. This chosen applicable law will cover not only the interpretation of the contract's clauses but also the validity, effect, and discharge of the contract.
  • The language of the contract: As it is frequent in international contracts that the parties do not speak the same language, they can choose one or two languages to be the language of their contract, which is mostly English and the language of one of the parties, which is used as the translation of the English text.
  • The methods of dispute resolution and jurisdiction: Since the applicable law in international contracts are chosen by the parties (except for some countries, such as Indonesia and China where the courts insist on drafting all kinds of contracts in the local language), choosing the methods of dispute resolution is also a right for the parties. For instance, many international contractors tend to choose arbitration as the dispute resolution to resolve any possible difficulty or dispute, with the minimum time or cost. In addition, choosing the jurisdiction will appoint where any dispute related to or raised from the contract will be heard and processed, which is another key point to the importance of these contracts.

Negotiation Fundamentals
Key strategies, cultural considerations, and common challenges.

• Key Strategies:
  • Preparation and Research: Effective negotiation begins with thorough preparation. This involves understanding the needs, priorities, and bargaining positions of both parties, as well as the legal frameworks that may impact the negotiation. Preparation also includes setting clear objectives and having a fallback position or BATNA (Best Alternative to a Negotiated Agreement).
  • Building Relationships: In international negotiations, establishing trust and rapport is crucial. Relationship-building can often be as important as the contract terms themselves, particularly in cultures where business relationships are deeply personal.
  • Clear Communication: Clarity in communication is key, especially when language barriers exist. Using simple, direct language and confirming mutual understanding can prevent misunderstandings.
  • Flexibility and Creativity: Successful negotiators are flexible and willing to explore creative solutions. Flexibility in negotiation allows parties to find mutually beneficial outcomes, even when initial positions seem incompatible.
• Cultural Considerations:
  • Understanding Cultural Differences: Cultural differences can significantly impact negotiation styles and outcomes. For instance, some cultures prioritize direct communication and quick decision-making, while others value indirect communication and consensus-building. Understanding these differences is essential to avoiding misinterpretations and building trust.
  • Adaptation to Local Practices: Adapting to the negotiation styles and business practices of the other party's culture can enhance the negotiation process. This may involve understanding local customs, communication etiquette, and decision-making processes.
  • High-Context vs. Low-Context Communication: In high-context cultures (e.g., Japan, China), much of the communication is implicit, relying on non-verbal cues and the context surrounding the words. In contrast, low-context cultures (e.g., the United States, Germany) prioritize explicit and direct communication. Recognizing and adapting to these differences can improve negotiation outcomes.
• Common Challenges:
  • Language Barriers: Miscommunication due to language differences is a common challenge. Utilizing professional translators and ensuring all parties have a clear understanding of the terms can mitigate this issue.
  • Legal and Regulatory Differences: Different legal systems can pose challenges in negotiation, especially when it comes to contract enforceability and regulatory compliance. It's important to involve legal experts who understand the legal frameworks of the countries involved.
  • Differing Negotiation Styles: Different approaches to negotiation—such as competitive vs. collaborative styles—can create friction. Being aware of these differences and finding ways to bridge them can lead to more successful outcomes.
  • Power Imbalances: In some negotiations, one party may have significantly more power, which can lead to unequal agreements. Negotiators must be aware of power dynamics and seek to create more balanced agreements that are fair to both parties.

Essential Contract Clauses
Jurisdiction, dispute resolution, and force majeure clauses.

• Jurisdiction Clause: The jurisdiction clause in an international contract specifies which country's courts will have the authority to hear and resolve any disputes arising from the contract. This clause is vital because the choice of jurisdiction can affect various aspects of the dispute resolution process, including the applicable law, procedural rules, and the convenience or cost for the parties involved. Importance of Jurisdiction: Jurisdiction determines where legal proceedings will take place and which court system will have authority. Without a clear jurisdiction clause, parties might face uncertainties, leading to potential disputes over the appropriate forum for litigation. This can result in forum shopping, where one party tries to have the case heard in a court they perceive as more favorable to their interests. A well-defined jurisdiction clause helps avoid this issue by specifying a neutral or mutually agreed upon location. Exclusive vs. Non-Exclusive Jurisdiction: Contracts may specify either exclusive jurisdiction, where only the designated court has authority, or non-exclusive jurisdiction, allowing parties to bring disputes in more than one jurisdiction. Exclusive jurisdiction clauses provide certainty but might be less flexible in international contexts.
   
• Dispute Resolution Clause: This clause outlines the mechanisms for resolving disputes that may arise during the execution of the contract. The three main methods are litigation, arbitration, and mediation. Litigation: This involves resolving disputes through the court system of the chosen jurisdiction. While it provides a formal resolution, litigation in international contexts can be expensive and time-consuming, and court decisions might not be easily enforceable across borders. Arbitration: Arbitration is often preferred in international contracts due to its advantages, including confidentiality, neutrality, and enforceability. The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards ensures that arbitration awards are enforceable in many countries. Arbitration clauses typically specify the rules governing the arbitration process, such as those of the International Chamber of Commerce (ICC) or the London Court of International Arbitration (LCIA), and the seat of arbitration, which determines the procedural law that applies. Mediation: Mediation involves a neutral third party helping the disputing parties reach a mutual agreement. It is less formal and adversarial than litigation or arbitration, making it suitable for maintaining business relationships. However, mediation outcomes are not binding unless formalized in an agreement.
   
• Force Majeure Clause: A force majeure clause addresses the inability of parties to fulfill their contractual obligations due to extraordinary events beyond their control, such as natural disasters, wars, pandemics, or government actions. This clause is crucial for managing risks associated with unforeseen events that could disrupt the performance of the contract. Definition and Scope: The force majeure clause typically lists specific events that qualify as force majeure. The scope of the clause can vary widely; some contracts may include a broad range of events, while others may be more restrictive. The clause usually requires that the affected party notify the other party as soon as possible, explaining how the force majeure event has impacted their ability to perform the contract. Legal Implications: In practice, the force majeure clause temporarily suspends the affected party's obligations without penalty, provided they follow the procedures outlined in the clause. However, if the force majeure event continues for an extended period, the contract may allow for termination by either party. The precise impact of a force majeure clause depends on the laws of the jurisdiction and the specific wording of the contract.

Legal Framework
Overview of Relevant International Conventions and Treaties
International contracts are governed and influenced by a variety of conventions and treaties that aim to standardize and harmonize legal practices across borders. These legal frameworks are crucial in providing predictability, fairness, and enforceability in international transactions.

• United Nations Convention on Contracts for the International Sale of Goods (CISG): The CISG is one of the most significant international treaties governing the sale of goods between parties based in different countries. Adopted in 1980 and ratified by over 90 countries, the CISG provides a uniform set of rules for the formation, performance, and enforcement of contracts for the international sale of goods. It automatically applies to contracts between parties in signatory countries unless explicitly excluded. The CISG reduces the uncertainty that arises from differences in national laws, offering a neutral legal framework that facilitates international trade. It covers issues like contract formation, obligations of the buyer and seller, and remedies for breach of contract.
   
• New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958): The New York Convention is a key treaty that facilitates the enforcement of arbitration agreements and arbitral awards across borders. It has been ratified by over 160 countries, making it one of the most widely accepted international treaties. This convention ensures that arbitration awards made in one member country can be recognized and enforced in any other member country, thus providing a reliable and effective method for resolving international disputes. The New York Convention is critical for businesses that prefer arbitration over litigation due to its neutrality, confidentiality, and efficiency.
   
• Hague Principles on Choice of Law in International Commercial Contracts: Adopted by the Hague Conference on Private International Law in 2015, the Hague Principles provide guidance on the choice of law in international commercial contracts. While not a binding treaty, these principles are influential in helping parties and courts determine which law should apply to a contract when parties have not explicitly made a choice. The Hague Principles promote party autonomy, allowing businesses to choose the applicable law in their contracts, thus providing predictability and reducing legal risks in cross-border transactions.
   
• Rome I Regulation (EU): The Rome I Regulation is an EU regulation that governs the choice of law in contractual obligations within the European Union. It applies to most commercial and consumer contracts involving parties in EU member states. Rome I provides a clear framework for determining the applicable law in cases where the parties have not made a choice, thus enhancing legal certainty within the EU. It also includes special provisions to protect weaker parties, such as consumers and employees.
   
• UNIDROIT Principles of International Commercial Contracts: The UNIDROIT Principles are a set of guidelines developed by the International Institute for the Unification of Private Law (UNIDROIT) that serve as a reference for international commercial contracts. Although they are not binding, they are often used by parties and arbitrators to supplement or interpret contracts. These principles provide a balanced set of rules that reflect common international practices and can be used to fill gaps in contracts or interpret ambiguous terms. They cover topics like contract formation, performance, and remedies for non-performance.

These international conventions and treaties form the backbone of the legal framework governing international contracts. They help reduce the complexity and uncertainty associated with cross-border transactions, enabling businesses to operate more confidently in the global marketplace.

Enforcement Challenges

When it comes to international contracts, one of the most significant challenges is the recognition and enforcement of foreign judgments. This process involves ensuring that a court decision or arbitral award rendered in one country is acknowledged and executed in another. However, various legal, procedural, and practical barriers can complicate this process.

Legal Frameworks and Reciprocity:

• Lack of Uniform Global Standards: Unlike arbitral awards, which benefit from the New York Convention, foreign judgments do not have a single, widely accepted international convention that ensures their recognition and enforcement. Although some regional agreements exist, such as the Brussels Regulation in the EU, the lack of a global framework means that enforcement relies heavily on bilateral treaties or national laws.
• Reciprocity Requirements: Many countries require reciprocity, meaning they will only recognize and enforce foreign judgments if the originating country would do the same for their judgments. This can create uncertainty, particularly if the legal systems of the two countries differ significantly in their approach to reciprocity.

Procedural Barriers:

• Jurisdictional Challenges: Courts in the enforcing country will first determine whether the original court had proper jurisdiction over the case. If the enforcing court finds that the original court lacked jurisdiction according to its own standards, it may refuse to enforce the judgment.
• Due Process Concerns: The enforcing court may also examine whether the original proceedings respected the principles of due process, including fair notice and an opportunity to be heard. If the enforcing court concludes that the original judgment was obtained unfairly, it may refuse recognition.
• Public Policy Exception: Many jurisdictions include a public policy exception, allowing courts to refuse enforcement if the foreign judgment is contrary to the fundamental principles or public policy of the enforcing state. This is a broad and often vague criterion that can lead to inconsistent outcomes.

Practical Challenges:

• Differences in Legal Systems: Variations in legal systems, including differences in substantive law, procedural rules, and judicial interpretations, can make it difficult to enforce a foreign judgment. For example, a judgment awarding punitive damages may not be recognized in a country where such damages are not allowed.
• Costs and Delays: The process of enforcing a foreign judgment can be costly and time-consuming, especially if the judgment debtor contests the enforcement. Legal fees, court costs, and the potential for multiple appeals can add to the burden, making enforcement less attractive.

Mitigating Enforcement Risks:

• Use of Arbitration: To avoid the complexities of enforcing foreign judgments, parties often opt for arbitration, where awards are more easily enforced under the New York Convention.
• Choice of Forum and Applicable Law Clauses: Careful drafting of jurisdiction and choice of law clauses in the contract can also help mitigate enforcement risks by selecting a jurisdiction with favorable enforcement laws or a legal system that is more predictable.

The recognition and enforcement of foreign judgments remain a challenging aspect of international contracts due to the absence of a uniform global framework, differences in legal systems, and procedural complexities. Parties to international contracts should be aware of these challenges and consider them when drafting contracts or choosing dispute resolution mechanisms.

Risk Management
Identifying Risks and Implementing Mitigation Strategies in International Contracts

International contracts are inherently risky due to the complexities of cross-border transactions, differences in legal systems, and potential geopolitical factors. Effective risk management involves identifying potential risks and implementing strategies to mitigate them. This approach helps ensure smoother contract execution and minimizes potential disputes.

• Legal Risks:
  • Jurisdictional Issues: Differences in legal systems can create uncertainty about which laws apply and where disputes will be resolved. Legal risks also include varying interpretations of contract terms, enforceability of judgments, and compliance with local regulations.
  • Regulatory Changes: Sudden changes in regulations or laws in a foreign country can affect contract performance, such as new tariffs, trade restrictions, or changes in intellectual property laws.
• Financial Risks:
  • Currency Fluctuations: Exchange rate volatility can impact the value of payments, especially in long-term contracts where currency values may fluctuate significantly over time.
  • Payment Delays or Defaults: The risk of non-payment or delayed payment by a foreign party is higher due to the complexities of cross-border transactions and differences in banking systems.
• Operational Risks:
  • Supply Chain Disruptions: Dependence on global supply chains exposes contracts to risks such as delays, shortages, or quality issues, particularly in regions prone to natural disasters or political instability.
  • Force Majeure Events: Unforeseen events like natural disasters, pandemics, or political unrest can prevent parties from fulfilling their contractual obligations.
• Cultural and Communication Risks:
  • Miscommunication: Language barriers and cultural differences can lead to misunderstandings in contract negotiation and execution, potentially leading to disputes.
  • Differing Business Practices: Variations in business etiquette, negotiation styles, and decision-making processes can also create challenges.

Implementing Mitigation Strategies

• Legal and Contractual Protections:
  • Clear Contract Terms: Drafting precise and comprehensive contract terms can help reduce ambiguity and prevent disputes. Key clauses like jurisdiction, choice of law, dispute resolution, and force majeure should be carefully crafted to cover potential risks.
  • Legal Reviews: Regular legal reviews by experts familiar with both local and international law can help identify and mitigate legal risks before they escalate.
  • Arbitration Clauses: Including arbitration clauses can provide a more predictable and enforceable method of dispute resolution, as arbitration awards are often easier to enforce internationally than court judgments.
• Financial Hedging:
  • Currency Hedging: To manage the risk of currency fluctuations, parties can use financial instruments like forward contracts, options, or swaps to lock in exchange rates.
  • Insurance: Political risk insurance, credit insurance, and other forms of coverage can protect against specific financial risks like non-payment, expropriation, or currency inconvertibility.
• Operational Safeguards:
  • Diversification of Suppliers: Relying on multiple suppliers from different regions can reduce the impact of supply chain disruptions. This diversification strategy also includes developing contingency plans for alternative sourcing.
  • Force Majeure Clauses: Clearly defining force majeure events and the procedures for handling them can provide a legal framework for dealing with disruptions. This may include extensions of time, suspension of obligations, or even termination of the contract.
• Communication and Cultural Adaptation:
  • Cross-Cultural Training: Providing cross-cultural training for teams involved in international contracts can enhance understanding and communication, reducing the risk of miscommunication and improving negotiation outcomes.
  • Use of Professional Translators: Ensuring accurate translation of documents and communication through professional translators can prevent misunderstandings due to language barriers.
• Regular Monitoring and Adaptation:
  • Risk Assessments: Conducting regular risk assessments throughout the contract's life can help identify new risks or changes in existing risks, allowing for timely adjustments to mitigation strategies.
  • Flexibility in Contract Terms: Building flexibility into contract terms, such as renegotiation clauses or adaptive pricing mechanisms, can help parties adjust to changing circumstances without resorting to disputes.

By identifying potential risks early and implementing comprehensive mitigation strategies, parties can better manage the complexities of international contracts, ensuring smoother operations and reducing the likelihood of costly disputes.

Case Laws

• M/S Bhatia International vs. M/S Bulk Trading S.A. (2002) 4 SCC 105
  • Facts: The case involved a dispute where Bhatia International, an Indian company, had entered into a contract with Bulk Trading S.A., a foreign company. The contract included an arbitration clause but did not specify the jurisdiction. A dispute arose, and Bhatia International sought arbitration in India.
  • Issue: Whether Indian courts could entertain matters related to international arbitration even if the contract did not explicitly stipulate the venue of arbitration.
  • Judgment: The Supreme Court held that Indian courts had jurisdiction to entertain international arbitration matters under the Indian Arbitration Act, even if the contract did not expressly specify the venue. The court emphasized that the parties' agreement to arbitrate in general terms was sufficient for Indian courts to have jurisdiction, provided the arbitration was conducted as per the law.
     
• ONGC Ltd. vs. Western Geco International Ltd. (2014) 9 SCC 263
  • Facts: ONGC Ltd., an Indian company, had a contract with Western Geco International Ltd. for seismic survey services. A dispute arose, and Western Geco sought arbitration in London. The arbitral award was in favor of Western Geco, and ONGC challenged its enforcement in India.
  • Issue: Whether the Indian courts could enforce a foreign arbitral award under the New York Convention and the extent of judicial review available.
  • Judgment: The Supreme Court upheld the enforcement of the foreign arbitral award, emphasizing that the grounds for challenging such awards under the New York Convention are very limited. The court reiterated that the judicial review of foreign awards should be minimal and restricted to ensuring that the award is not in conflict with Indian public policy.
     
• Vaghela Rajubhai Ratanbhai vs. Patel Chaturbhai Narsibhai (2006) 4 SCC 528
  • Facts: This case involved a dispute concerning the enforcement of a contract where one party sought to enforce a contract under Indian law despite the international nature of the contract.
  • Issue: The extent to which Indian courts can intervene in international contract disputes and the principles governing such intervention.
  • Judgment: The Supreme Court held that while Indian courts can intervene in international contract disputes, their role is limited to ensuring that the contract is enforced in accordance with the principles of justice, equity, and good conscience. The court emphasized that the courts should avoid unnecessary interference in matters where the parties have agreed on a specific dispute resolution mechanism.
     
• Noble Resources Ltd. vs. MV Panamax Star (2006) 4 SCC 488
  • Facts: This case dealt with a dispute arising from an international maritime contract involving the carriage of goods. The case was about the enforcement of an arbitration award related to the maritime contract.
    Issue: The enforcement of international maritime contracts and arbitration awards.
    Judgment: The Supreme Court addressed the issues of jurisdiction and the enforcement of arbitration awards related to maritime contracts. The court held that Indian courts had the authority to enforce such awards and stressed that international maritime contracts were subject to both international conventions and Indian laws governing maritime disputes.

These cases illustrate the approach of Indian courts toward international arbitration and contract enforcement, highlighting their role in ensuring that international agreements are respected and enforced while also balancing the need for minimal interference in arbitration matters.[15]

Conclusion
In conclusion, international contracts require meticulous attention to legal frameworks, careful drafting of essential clauses, and proactive risk management to navigate the complexities of cross-border transactions. Understanding key conventions like the CISG and the New York Convention is critical for ensuring contract enforceability and effective dispute resolution. The inclusion of well-crafted jurisdiction, dispute resolution, and force majeure clauses can mitigate legal uncertainties and protect parties from unforeseen events.

However, challenges such as the recognition and enforcement of foreign judgments, along with the inherent risks of international trade, necessitate robust strategies, including financial hedging, operational safeguards, and clear communication. As global commerce evolves, continuous adaptation and vigilance will be essential for managing the dynamic risks and opportunities in international contracting.[16]

Bibliography:

• Books
  • "International Commercial Contracts: Law and Practice" by Ingeborg Schwenzer, Pascal Hachem, and Christopher Kee
  • "International Business Transactions" by Ralph H. Folsom, Michael Wallace Gordon, John A. Spanogle, Jr., and Michael P. Van Alstine
  • "Drafting International Contracts: An Analysis of Contract Clauses" by Marcel Fontaine and Filip De Ly
• Articles
  • "Recognition and Enforcement of Foreign Judgments: A Practical Guide" by Louise Hauberg Wilhelmsen
  • "Risk Management in International Contracts" by Larry A. DiMatteo
• Scholarly Journals
  • Journal of International Economic Law
  • International and Comparative Law Quarterly
• Links
  1. International Chamber of Commerce (ICC). "Model Contracts and Clauses" https://iccwbo.org/publication/model-contracts-clauses/
  2. UNCITRAL (United Nations Commission on International Trade Law). "United Nations Convention on Contracts for the International Sale of Goods (CISG)." https://uncitral.un.org/en/texts/salegoods/conventions/sale_of_goods/cisg
  3. New York University Globalex. "International Commercial Contracts." https://www.nyulawglobal.org/Globalex/International_Commercial_Contracts1.html
  4. Hague Conference on Private International Law (HCCH). "Hague Principles on Choice of Law in International Commercial Contracts." https://www.hcch.net/en/instruments/conventions/full-text/?cid=135
  5. LexisNexis. "International Contract Law." https://www.lexisnexis.com/
  6. World Bank. "Managing Risk and Dealing with Uncertainty." https://www.worldbank.org/en/news/feature/2020/06/08/managing-risk-and-dealing-with-uncertainty

End Notes:

1. https://karimilawfirm.com/en/publications/why-international-employment-contracts-are-important/
2. https://www.nyulawglobal.org/globalex/International_commercial_contracts.html
3. https://karimilawfirm.com/en/publications/why-international-employment-contracts-are-important/
4. https://www.pon.harvard.edu/daily/international-negotiation-daily/international-negotiation-understanding-cultural-differences/
5. https://www.nyulawglobal.org/globalex/international_commercial_contracts1.html#:~:text=As%20a%20starting%20point%2C%20the,%E2%80%9D)%2C%20the%20Hague%20Conference%20on
6. https://uncitral.un.org/en/texts/salegoods/conventions/sale_of_goods/cisg
7. https://uncitral.un.org/en/texts/arbitration/conventions/foreign_arbitral_awards
8. https://pmg.org.za/files/170912Hague_Principles.pdf
9. https://uncitral.un.org/en/texts/salegoods/conventions/sale_of_goods/cisg
10. https://wcl.american.libguides.com/c.php?g=563261
11. https://www.worldcc.com/Learn/Professional-Certification/Commercial-Contract-Management-Certification-Program
12. https://www.manupatra.com/roundup/325/Articles/Interpretation%20of%20Statutes.pdf
13. https://main.sci.gov.in/jonew/judis/41878.pdf
14. https://www.livelaw.in/pdf_upload/cc12011gjhc24025874201120709102017-447403.pdf
15. https://www.legalauthority.in/judgement/noble-resources-ltd-vs-state-of-orissa-16948
16. https://iccwbo.org/

Written By: Adv.Smruti s. Kalantre.