Escolar Documentos
Profissional Documentos
Cultura Documentos
goods are directly exchanged for other goods. The use of money is
cy, although such agreement does not really entail any actual
technology.
times, these days, one party to the barter agrees (at the cost of
COOPERATION
ment.
PRIVATE LAW
ing countries.
switch transactions.
person.
party thereto does not need the goods countertraded and sells
types of contracts.
PARTIES TO COUNTERTRADE
Contracts in Countertrade
maintenance or repair[10].
hereunder:-
barter.
tional countertrade.
(b)Matched contracts
Parties conclude two independent contracts that do not refer to
each other, the first for the supply of goods in one direction,
and the second for the supply of goods in other direction. The
main link between the two contracts is the willingness to
continue one contract depends on the conclusion of the other.
This type of a contract is preferred when a continuing relation-
ship between the parties is expected. All normal legal remedies
are available in this form of contract since each one is conclud-
ed and administered separately.
Countertrade Agreement
The Countertrade agreement might be entered into prior to the
conclusion of any definitive export contract. It might specify
total monetary value of the purchases to be made in each direc-
tion, indicate in general terms the types of goods to be pur-
chased, specify the currency in which the goods are to be priced
and payment is to be made and spell the procedure for payment.
However, the main element is that the price is to be paid into a
blocked account that can be used only for payment for counter
imports.
Such a provision not only reduces concerns over the expenditure
Primarily legal problem lies in the fact that the parties to the
One way to overcome this legal anomaly is that the contract may
the value of the future contract but not the goods, is found in a
terms of the future contract i.e. (1) the essential term which
even though the goods and their price may still be unknown.
agreements.
standard[19].
Conflict Resolution
arbitrator.
goods.
technical assistance.
Price of Goods
mine the difference in price and who shall pay i.e. buyer or
would be the ease with which prices for the goods in that
could be repaid.
commitment.
Future.
when the parties have the goods in stock. In such cases the
countertrade operations.
Future of countertrade is evident by the fact that 49 developing
fies that 55% of the important countries use at least one or the
channels.
the developing world, and is a sound basis for fruitful and long
future.
footnotes
2. A/CN. 9/159.
3. A/CN.9/253.
5. A/CN. 9/277.
13. Articles 55, 35(2) (a) and 33(c) of the U.N.Sales Conven-
tion.
18. Id.
19. Id.
INTRODUCTION
What is a Countertrade