We are currently under negotiations with the International Chamber of Commerce (ICC) to introduce their sample contracts to our users. ICC is the world business organization, helping businesses of all sizes and in all countries to operate both internationally and responsibly.
ICC aims to promote international trade and investment as vehicles for inclusive growth and prosperity. From resolving disputes when they arise in international commerce to supporting global efforts to streamline customs and border procedures, ICC supports multilateralism as the best way to address global challenges and reach global goals.
An international business transaction requires a precise and detailed underlying contract. However, it can be expensive and time-consuming to draft such a contract oneself.
The International Chamber of Commerce, the world business organization, has responded to the market’s need for a reliable and equitable model with the ICC Model International Sale Contract, which provides a solution in presenting a set of clear and concise standard contractual conditions for the most basic international trade agreement.
The Model Contract is Divided into two Parts:
Specific Conditions, which allow the parties to use the Model directly by filling in the blanks in the form; and
General Conditions, which provide a platform of standard legal terms and thus a reference tool for contract drafting or negotiation. These General Conditions may be used together with the Specific Conditions, or independently.
The ICC Model International Sale Contract is specifically adapted for transactions governed by the UN Convention for the International Sale of Goods (CISG) that is added in the annex and applies to an increasingly large volume of international sales.
ICC model contracts and clauses aim to provide a sound legal basis upon which parties to international contracts can quickly establish an even-handed agreement acceptable to both sides. The contracts are the products of some of the finest legal minds in the field of international commercial law. They are constructed to protect the interests of all the parties, combining a single framework of rules with flexible provisions allowing the parties to insert their own requirements.
This concise model is fair and balanced for all parties involved by clearly presenting a comprehensive set of rights and obligations. Providing clear directions to sellers and buyers, its introduction takes the parties step-by-step through the process – from A to Z covering:
General Characteristics of the Contract
Scope of Application
Termination of the Contract