Compare and contrast the international sale of goods laws(including carriage and insurance) of China and those of Australia

COMPARISON OF

INTERNATIONAL SALE OF GOODS LAWS : AUSTRALIA AND CHINA

2005 Executive Summary

China and Australia are both among the fastest growing economy in the world . Despite their difference of economical origins , both countries have managed to strike its influence in international business immensely

In recent days , both countries have signed a mutual FTA feasibility studies to explore the potential business among them . Actually , how different are their economics structure . Are they moving towards uniformity of international trade laws as suggested by the Vienna Convention

This will displayed

a brief overview of the countries current economical condition , described their current relationship , and then try to find fundamental differences exist among the two countries

Furthermore , this will show that the International trade of goods laws between the compared countries : China and Australia are different in nature . This is due to each country evolve from different trading culture

China , for example , in its early years tends to promote a steady commitment in producing a uniform legal rules and regulations globally although later the country shows less commitment in permitting a fair atmosphere of global trading then the Australian

In contrast , Australia was a party at the Vienna Convention , and it is now actively promoting the uniform laws of international trading . The situation drives the country to encourage international relationships (export and import ) since they believe the relationship is important means for the survival of the nation 's economy and the increase in living standards , therefore , a fair export and import law is maintained as an important merit

Comparison of International Sale of Goods Laws

Australia and China

I . Introduction

In this era of globalization , entrepreneurs would no longer give in to national or regional boundaries . Businesses are expanding worldwide causing increasing importance of adequate laws and regulations

Before the times of globalization , laws and regulations were made by each and individual countries . On Seldom cases of transactions between entrepreneurs of different nationality , the laws and regulations are chosen among the nationality involved . The following decade however cross-national , cross regional and multinational transaction happens each and every day , posing an inadequacy to the previous method of selecting laws and regulations applied

Considering the frequency of foreign transactions , it is a tremendous waste of time and energy to dispute about the basic rules implied in every transaction practiced . The need of a basic set of rules and regulations which can be implied in every multinational transaction grew from the vast developing idea of globalization

In this situation , the most well known and trustworthy regulations naturally transformed into a swift solution . The English international trade laws are somewhat the popular solution for the international trade law uniformity problem . A considerable amount of multinational businessmen are using English Laws based contracts to manage their transactions , even if the transactions have no reasonable connections with the United Kingdom . One of the known examples is an Argentinean selling products of Soya bean meal in bulk to a Swiss buyer using US dollar as transactional currency (a...