Web-course on Transport, Shipping and International Trade: “Contracts in English Law (Part 1)”
The topic of foreign trade contracts, which are regulated by the rules of English Law, including their conclusion, execution and termination – has a particular interest since the development and growth of national corporate business and the expansion of export capacities in certain areas of the economy of Ukraine. This is due in particular to the fact that 80% of transactions worldwide concluded using the standard GAFTA contact form.
So what is the agreement within the English law system, we understood during the webinar of the Web-course on Transport, Shipping and International Trade on April 2, 2020.
Together with the speakers Andriy Perepelytsya and Valeriya Ivanova, both theoretical and practical aspects of contracting were concidered: concept, typical forms of GAFTA and FOSFA, signs and methods of their conclusion, as well as the moment when the contract is considered concluded. Particular attention was paid to the latter issue, referring to the examples of English case law, because a great deal of controversy arises when the contract enters into force. It is also interesting that, in fact, typical proforma statements reduce the entire English law system to a single 3 page set of terms.
We hope that the topic was useful for you and see you at the next webinars!