UNLOCKING THE POWER OF SPECIAL TRADE TERMS: EXPLORING THEIR IMPACT ON INTERNATIONAL SALE CONTRACTS

AUTHOR – SHREYA KHOTELE, STUDENT AT AMITY UNIVERSITY, CHHATTISGARH

BEST CITATION – SHREYA KHOTELE, UNLOCKING THE POWER OF SPECIAL TRADE TERMS: EXPLORING THEIR IMPACT ON INTERNATIONAL SALE CONTRACTS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (1) OF 2024, PG. 1236-1245, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

Special trade terms, such as Incoterms, are crucial elements in international sales contracts, defining the rights, obligations, and risks of buyers and sellers in global trade. This paper explores the impact of special trade terms on international sale contracts, forcings on their ability to streaming transactions, mitigate risks, and facilities smoother trade reletionship.

The use of case studies and analysing reveals the practical significant of special trade terms in international trade. By exclaming real world scenarios, this study demonstrates how the selection of an incoterm can significantly affect the overall cost the effenciency of a transactions. Clearly and preceise contactual where parties have differing interpretations of the chosen incoterms.

Moreover, legal framework surrounding special trade terms, incliding the United Nations Conventions on Conntracts for the International Sale of Goods (CISG)and domestic laws, undercores their importance in global trade. This framework provides a consistent set of rules and principles that governs the use and interpretations of special trade terms , enhancing legal certanly and predictability in international transactions. In conclution, special trade terms are powerfull tools that can unlock new opportunities and efficiencies in international trade. By understanding theur impact the nuances, parties can navigate the complexities of global commerce with greater confidence, ultimatly fortering more robust and mutually beneficial trade reletionships.