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Terms and Conditions in a Contract for the International Sale of Goods

Author

Listed:
  • Galina Aleksandrovna Orlova

    (Russian Foreign Trade Academy, Moscow, Russia)

  • Yuri Anatolievich Savinov

    (Russian Foreign Trade Academy, Moscow, Russia)

  • Aleksander Nikolayevich Zelenuk

    (MGIMO University, Moscow, Russia)

  • Viktor Nikolayevich Kirillov

    (State University of Management, Moscow, Russia)

Abstract

Given the increased competition in the global market, both the seller and the buyer strive to protect their interests as much as possible when fulfilling the contract. To this end, they pay particular attention to the wording of the main sections of the contract. Errors in this area can lead to the loss of the goods for the seller and to the loss of the paid money for the buyer. First of all, the parties carefully choose a law that will govern the contract. Each party seeks to specify the law of its country as the applicable law under the contract, so that in the event of a conflict it is easier to navigate the national laws and regulations to protect its rights. Besides, the parties carefully draft the preamble of the contract, the subject of the transaction, the quantity, the quality and, in general, format the contract clauses.

Suggested Citation

  • Galina Aleksandrovna Orlova & Yuri Anatolievich Savinov & Aleksander Nikolayevich Zelenuk & Viktor Nikolayevich Kirillov, 2022. "Terms and Conditions in a Contract for the International Sale of Goods," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 2, pages 55-64, February.
    • Handle: RePEc:alq:rufejo:rfej_2022_02_55-64
    DOI: 10.24412/2072-8042-2022-2-55-64
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