Title: Precaution for export contract and dispute resolution
1PRECAUTION FOR EXPORT CONTRACTS AND DISPUTE
RESOLUTION
- Presented by
- Knowledgentia Consultants
- Address E-71, L.G.F., Greater Kailash-1
- New Delhi 110048
- Tele 91-11-46012100
- Email info_at_knowledgentia.com
- Website www.knowledgentia.com
2INTRODUCTION
- Export Import business is carried out on the
basis of a Contract of Sale between buyer and
seller. - The contract should comprise of all the necessary
terms and conditions. - Presence of dispute resolution and jurisdiction
for dispute resolution in the contract is very
important.
3INTRODUCTION
- Clause for liability and duties.
- Scope of work for both parties
- Term and Duration
- Exit Clause
- Arbitration clause is important.
- Indemnification clause.
- Payment Terms
4EXPORT/IMPORT CONTRACT
- For International sale and purchase of
goods/services - The buyer could be a trader, importer, distributor
or wholesaler that will sell the products to
another company or merchant. - Seller an exporter, manufacturer or licensee of
manufacturer - Usually, contracts are based only on Proforma
Invoice, Bill of Lading - It is advisable to have a written and legal
contract/agreement in place.
5ESSENTIAL ELEMENTS OF AN IMPORT/EXPORT CONTRACT
- Products, standards and specifications.
- Units of measure in both figures and words.
- Total value. The total contract value in words
and figures, and in a specific currency and
bifurcation of taxes ( as applicable). - Inspection/Quality Check.
6- Delivery terms and schedule.
- Terms of payment
- Amount, mode and currency.
- Documentary requirements
7- Clauses for Delay in delivery.
- Insurance of goods against loss, damage or
destruction during transportation. - Clause for Intellectual Property Rights to
goods/services - Force Majeure.
8- Liability for non-performance of the contract.
- Applicable law.
- Jurisdiction
- Arbitration clause.
9- Cargo claims.
- Terms of breach.
- Indemnification.
- Termination.
- Exit Clause.
10TERMS ON SALES CONTRACT/ PURCHASE CONTRACT
- The formal contract consists of the following
main terms - Name of the commodity.
- Quality of the commodity.
- Quantity of the Commodity.
11- Packaging of the commodity.
- Price of the commodity.
- Payment terms and Schedule.
12- Insurance.
- Quality Check/Inspection.
- Force majure.
- Exit Clause
13TERMS ON PRICE METHODS
- Below are methods generally followed for Price
Methods - FOB- Free on board
- CFR or CF- Cost and Freight
- CIF- Cost, Insurance and Freight
- DAF- Delivered at Frontier
14FREE ON BOARD (FOB)
- Free on Board means that the seller fulfills his
obligation to deliver when the goods have passed
over the ship's rail at the named port of
shipment. - The buyer has to bear all costs and risks of loss
of or damage to the goods from that point. - FOB terms require the seller to clear the goods
for export. - This term can only be used for sea or inland
waterway transport.
15COST AND FREIGHT
- Cost and Freight means that the seller must pay
the cost and freight necessary to bring the goods
to the named port of destination. - But the risk of loss or damage to the goods, as
well as any additional costs due to events
occurring after the time the goods have been
delivered onboard the vessel, is transferred
from the seller to the buyer when the goods pass
the ship's rail in the port of shipment. - The C F term requires the seller to clear the
goods for export
16CIF- COST, INSURANCE AND FREIGHT
- CIF means that the seller has the same
obligations as under C F. - Seller has to procure marine insurance against
the buyer's risk of loss of or damage to the
goods during the carriage. - The seller contracts and pays the insurance
premium.
17DAF- DELIVERED AT FRONTIER
- DAF means that the seller fulfills his obligation
to deliver - When the goods have been made available
- Cleared for export, at the named point and place
- The term is primarily intended to be used when
goods are to be carried by rail or road, but it
may be used for any other mode of transport.
18PAYMENT METHODS
- IRREVOCABLE L/C(LETTER OF CREDIT)
- REMITTANCE
- DOCUMENTARY COLLECTION
- DOCUMENTS AGAINST ACCEPTANCE (D/A)
19IRREVOCABLE LETTER OF CREDIT
- Irrevocable L/C is the one that can not be
withdrawn or amended by the opening bank without
the agreement of the beneficiary - Secure
- Internationally Acceptable method
-
20IRREVOCABLE LETTER OF CREDIT
- Irrevocable or not
- Guidelines for International Trade - Uniform
Customs and Practice Rules 600 (UCP 600) is the
latest version with guidelines for comprising
L/C - Bank of buyer and seller are involved in the
completion of the contract and payment
21REMITTANCE
- Mail Transfer (M/T),
- Telegraphic Transfer (T/T), and
- Demand Draft (D/D)
22MAIL TRANSFER
- Buyer will hand over the payment of the goods to
the remitting bank - Authorizing its branch bank or correspondent bank
in the country of the beneficiary by mail to make
the payment to the Seller. - Mail transfer is cost effective but takes more
time.
23TELEGRAPHIC TRANSFER
- Buyer will hand over the payment of the goods to
the remitting bank - Buyer authorize their branch bank or
correspondent bank in the country of the
beneficiary by telegraphic means to make the
payment to buyer - Expensive but quicker.
24DEMAND DRAFT
- Buyer will come to the local bank to buy a
banker's bill - Deliver the Bill to the seller or beneficiary by
mail - When the seller or beneficiary has received it,
they will redeem it from the designated Bank. - Apart from banker's bill, promissory notes or
cheques can also be used in this way.
25DOCUMENTARY COLLECTION
- D/P AT SIGHT
- Under D/P at sight, the seller might either draw
or not draw a draft on the buyer. - Seller shall hand over the shipping documents
together with (or without) the draft, and the
shipping documents and the draft (or without
draft) will be transferred to the collecting bank
which will present them to the buyer and ask him
to make the payment at sight. -
26- The buyer, upon sight, should then make the
payment and get the shipping documents. - When the collecting bank has finished the
collection, it should immediately notify the
remitting bank which will then make the payment
to the seller. - Bank shall make payment to the Seller.
27D/P AT _ DAYS AFTER SIGHT (DATE)
- The buyer shall duly accept the documentary draft
drawn by the seller at _ days sight upon first
presentation and make payment on its maturity. - The shipping documents are to be delivered
against payment only.
28DOCUMENTS AGAINST ACCEPTANCE (D/A)
- Under D/A, the buyer can get the shipping
documents from the collecting bank after he has
duly accepted the draft. - This is only applicable to time draft.
- These will greatly convenience the buyer, but it
means much more risk for the seller, for once he
has delivered the shipping documents, he will
have lost his title over the goods.
29DOCUMENTS AGAINST ACCEPTANCE (D/A)
- D/A has more risks for the seller, for the buyer
might refuse to pay after acceptance of the draft
and taken the delivery of the goods. - Certainly the seller might sue the buyer, but as
often the case, the buyer claims bankruptcy and
then the seller can do nothing to remedy the
situation. - Buyer fails to remit payment to seller
30CONTRACT TERMS ON DOCUMENTATION
- Generally there are five kinds of commonly used
international trade documents - Government Control documents.
- Commercial Invoice Documents.
- Banking Documents.
- Shipping Documents.
- Insurance Documents.
31GOVERNMENT CONTROL DOCUMENTS
- Export Documents.
- Import License and Foreign Exchange
Authorization. - Export License - Export Documents.
- Certificate of Origin - Export Document.
- Inspection Certificate - Export Document.
- Consular Invoice.
- Customs Invoice.
32COMMERCIAL INVOICE
- Mandatory Information for Invoice
- Buyer's order number.
- Invoice number and date.
- Shipment terms.
- Names and addresses of the seller and buyer.
- Country from which the shipment is made.
- Description of the goods.
33- Quantity, weight or measurement of the goods.
- Unit price
- Total amount payable, including price of goods,
freight, insurance and so on. - Rebate or similar incentives.
- Signature of the exporter.
34BANKING DOCUMENTS
- Below are some generally used banking documents
in international trade - Documentary Credit D/C.
- Standby Credit.
- Collection Instruction.
- Bill of Exchange (B/E) or Draft.
- Trust Receipt (T/R).
- Promissory Note.
35SHIPPING DOCUMENTS
- Below are few documents which are generally
required - Shipping Order S/O.
- Dock Receipt D/R or Mate's Receipt.
- Bill of Lading (B/L).
- House Bill of Lading.
- Sea Waybill.
-
36- vi. Air Waybill (AWB).
- vii. House Air Waybill (HAWB).
- viii. Shipping Guarantee.
- ix. Packing List (sometimes as packing note).
37INSURANCE DOCUMENTS
- Below are generally required insurance documents
- Insurance Policy.
- Insurance Certificate.
- Combined Certificate.
- Open policy or Open cover.
38ROADBLOCKS FOR IMPORTERS/EXPORTERS
- Absence of adequate terms/ clauses in contract.
- Infringement of Intellectual Property Rights
- Government control.
- Different laws.
- Difficulty in payments.
-
39- Customs duty.
- Lack of information.
- Economic dependence.
- International dispute.
- Language difference.
40MODES OF DISPUTE RESOLUTION
- Major modes of dispute resolution are
- Negotiation
- Mediation
- Arbitration
- Litigation
41INTELLECTUAL PROPERTY ISSUES IN INTERNATIONAL
TRADE
- IP Rights are Territorial.
- Secure Freedom to Operate.
- Respect Deadlines.
42INTELLECTUAL PROPERTY ISSUES IN INTERNATIONAL
TRADE
- Early Disclosure.
- Working with Partners.
- Choosing an Appropriate Trademark.
43WHAT ARE INTELLECTUAL PROPERTY RIGHTS?
- INTELLECTUAL PROPERTY RIGHTS ARE
- TRADEMARKS
- COPYRIGHTS
- PATENTS
- DESIGNS.
44INTELLECTUAL PROPERTY RIGHTS INTERNATIONAL
BUSINESS
- IP is of relevance to many aspects of
international trade. - Crucially it provides exclusive rights,
- But these rights have to be pursued locally and
internationally so as to prevent imitators.
45TRADE MARKS
- Trade Marks are distinctive symbols, signs, logos
that help consumer to distinguish between
competing goods or services. - Trade marks registration enables to maximize
product differentiation, advertising and
marketing, thus enhancing the product or services
in international markets and establishing a
direct link with the foreign consumers.
46COPYRIGHT
- Copyright is the artistic work/logo or
combination of artistic work with data on
websites or compilation of data in the form of
software. - Legal copyright registration allows control the
import and export. - Exporting the products outside the country brings
company into contact with different legal
environment, the rules that apply there may
differ. - Therefore, it is important to register creative
work in prospective exporting countries
47PATENT
- Patent is an exclusive right granted for an
innovation, which is a product or a process or
both that provides a new way of doing something,
or offers a new technical solution to a problem. - Patents provide licensing opportunities with
companies inside and - sometimes even outside a companys field.
An active patent - program generates revenue from the
licensing of patents which cover - technology or business processes.
48PATENT
- Possessing a patent help a company to grow by
capitalising on the market potential of its
inventions. Small companies use patents to - financial backing.
- Small scale companies that hold patents attract
overseas investment and develop products for
exports
49DESIGN
- Design is the ornamental or aesthetic aspect of
an article which must appeal to the eye. The
design may consist of three-dimensional features,
such as the shape or surface of an article, or of
two dimensional features, such as patterns, lines
or colour. - Design contribute to both innovation and brand
building. - Designs helps improve the form of a product, how
the brand connects emotionally and engages with
consumer.
50IP RIGHTS ARE TERRITORIAL
- All IP rights are only valid in the country or
region in which they have been granted, except
Copyright. - Therefore, applying for such rights in other
countries is important if there is an intention
to go international.
51EXCEPTIONS
- Copyright is automatically available to all
member countries through the provisions of the
Berne Convention, - Well known marks have automatic protection,
- Trade secrets are by their nature confidential.
52IP RIGHTS ABROAD
- Export Import the owner of IPR should seek
protection from the jurisdiction wherein it is
proposing to commence business - Protection through application of Trademark,
Patent, License, Assignment as applicable and
agreed between both parties - IPR can be applied for registration either
through National route or through Regional Route - Once applied, the seller can claim royalty in
lieu of rights to sell the product/service in
that jurisdiction
53IP RIGHTS ABROAD
- National route
- Register for the relevant IP in each
country/territory. - Obtain IP Rights Internationally
- Regional Route Below are few International
Organization which provide IP rights for their
jurisdictions or conglomerate of areas - Benelux Office for IP (TM and Designs)
-
- ii. African Regional Industrial Property
Office (ARIPO)
54- iii. Eurasian Patent Office
- iv. European Patent Office
- v. Office for the Harmonization of the Internal
Market (TM and Designs) - vi. Organisation Africaine de la Propriété
Intellectuelle (OAPI) - vii. Patent Office of the Cooperation Council for
the Arab States of the Gulf - In INDIA INTELLECTUAL PROPERTY RIGHTS are
protected by CONTROLLER GENERAL OF PATENTS,
DESIGNS TRADE MARKS.
55INTERNATIONAL ROUTE
- World Intellectual Property Organization (WIPO)
Administers the conventions and systems for the
international registration of marks, designs and
patents in conformity with the requisite
standards and parameters. - Through Madrid and Hague International
application is valid in the designated countries
unless rejected within a specified time. - PCT International application subject to
international phase (international search and
patentability report and a preliminary
examination report, if required) followed by the
national phase. Here the designated countries
decide on patentability.
56FREEDOM TO OPERATE (FTO)
- Analyzing FTO is to evaluate whether you are in
any way infringing the patents, designs or
trademarks of others in the particular
jurisdiction. - Such a evaluation is usually done by conducting a
search in patent, trademark and design databases
for patent applications, granted patents,
registered trademarks or designs.
57FTO - PATENT
- Even if there is a potentially conflicting patent
that has been granted in the territory in
question. - It may have expired or expiring soon.
- Its claims may not cover the elements of
interest. - If the patent still remains valid and applicable.
- It could still be invalidated by finding
applicable prior art. - A license could be obtained or
- Invent an alternative.
58FTO - TRADEMARK
- Same issues nationally as for international
- Search for similar trade name or domain name that
may lead to a future dispute. - Analyse the competitors and their brands/mark
whether registered or not. - Then create, innovate and coin a mark/logo/tag
line for protection.
59HOW TO DEAL THE CONFLICT?
- If the search produces a prior existing patent,
trademark or design in the market of interest
then clearly it cannot be used as is - Options available are to change the trademark,
design around the patent or design - Offer to buy or license that right or
- Challenge its validity if its not novel or its
obvious.
60RESPECT DEADLINES
- Priority Period.
- Patents 12 months Designs 6 months
- Once an application for a patent or design right
has been made domestically (priority date) an
international application has to be made within
the priority period . - Priority date can be claimed from domestic
priority. - Loss of novelty if filed beyond the stipulated
period
61EARLY DISCLOSURE
- Novelty is pre requisite for claiming protection.
- Disclosure only through Non-disclosure Agreement.
- If not, the novelty could be lost and an
application for registration be rejected. - Essential for Innovative processes and products
for both Designs and Patents to potential
partners before protection has been filed.
62WORKING WITH PARTNERS IPR
- Ownership of IP.
- Assignments/licenses for ownership.
- Risk of unauthorized use or disclosure of trade
secrets by partner. - Risk that partner will use trade secrets of
others and expose you to litigation. Insist on
indemnification. - Quality of product to be maintained.
- Sustain brand image.
- Trade marks to be registered in name of original
owner only. - If registered in the partners name in the country
could create conflicts once the relationship
ends.
63CHOOSING AN APPROPRIATE TRADEMARK
- Mark should be innovative, creative
- Not deceptive
- Not descriptive or generic
- Unique and not obvious
- Interesting connotations and their translated
meanings should be analyses in the territory for
interest - FEW EXAMPLES
- Mitsubishi was dismayed to find that PAJERO
means 'Wanker' in Spanish. Ford NOVA means
No Go in Spanish. Whereas Coca Cola was
successful in finding a trademark in Chinese to
say Happiness In The Mouth
64DISPUTE RESOLUTION
65NEGOTIATION
- Basic means of settling differences.
- It is back-and-forth communication between the
parties. - Goal of trying to find a solution.
- You may negotiate directly.
- You may hire an attorney to negotiate on your
behalf. - No specific procedures to follow.
- It works best if all parties are positive and
intend to settle - the matter.
66MEDIATION
- Mediation is a voluntary process.
- An impartial person (the mediator) helps with
communication and promotes reconciliation. - Mediator manages the process and helps facilitate
negotiation. - Mediator does not make a decision nor force an
agreement. - Parties directly participate and are responsible
for negotiating their own settlement or agreement.
67ARBITRATION
- Arbitration is the submission of a disputed
matter to an impartial person (the arbitrator)
for decision. - An out-of-court method for resolving a dispute.
- Arbitrator controls the process, will listen to
both sides and make a decision. - Appeal rights are limited.
68LITIGATION
- Litigation is the use of the courts and civil
justice system to resolve legal controversies. - Used to compel opposing party to participate in
the solution. - Specific rules of procedure, discovery and
presentation of evidence must be followed. - A formal judicial proceeding allowing full
examination and determination of all the issues
between the parties. - Decision can conclude the litigation process and
be enforceable. - Appeal is available.
69ARBITRATION V/S CIVIL LAW
- Arbitration is the alternative dispute resolution
mechanism - Saves time and cost as incurred in litigation
- Parties are bound by Award of an arbitrator
- Final decision of Arbitrator
70ADVANTAGES OF ARBITRATION
- Advantages of arbitration
- (i) Arbitration proceedings are private and
confidential. - (ii) Parties can choose the arbitrator.
- (iii) Parties can choose the language of the
arbitration and its venue. - (iv) Arbitrations can be less formal than
court proceedings. - (v) Arbitration awards are final, binding
and are enforceable through the - courts.
71- (vi) Avoids hostility.
- (vii) Usually cheaper than litigation.
- (viii) Faster than litigation.
- (ix) Flexible.
- (x) Simplified rules of evidence and procedure.
72LAW FOR ENFORCEMENT OF FOREIGN AWARDS
- Member country signatory of International
Conventions. - Members to bring legislation for enforcement.
- India has accordingly enacted Foreign Awards (
Recognition and Enforcement) Act, 1961. - Person interested in the award can pray the
court, having jurisdiction. - Court pronounces the judgment according to the
award. - No appeal can lie except when the judgment is in
excess or not in accordance with the award.
73REAL TIME CASE LAWS
- CHAMBER OF ARBITRATION, MILAN 10.10.2014
- FACTS Issue of breach of terms of Technology
Transfer Agreement entered in between the parties
way back in 2011 between an Italian and German
entity. Claimant terminated the contract alleging
the non timely delivery of goods and claimed
refund of payment made for procurement of
materials. - ARGUMENTS According to Claimant, Respondent was
unable to package a given quantity of the agreed
product within the stipulated time as per the
order. - Commercialization was to be launched by a client,
who cancelled the entire order and the claimant
suffered loss of client, income as well as
reputation. - However, the respondent stated that no deadline
was mentioned in the contract and also respondent
made all efforts to package the product timely. - Ref Claimant (Italian company) v. Respondent
(German company) Chamber of Arbitration of Milan
Award No. 7813, rendered on 10 October 2014.
74- JUDGMENT OF THE COURT
- The Sole Arbitrator found that Respondent
behavior was in compliance with the standard good
faith acceptable in the circumstances and taking
into account both parties contractual
obligations. - In fact, on the basis of the evidence presented
by the parties and of the experts report, the
Sole Arbitrator deemed that while Respondent
proved to have made its best efforts to try and
package the goods, Claimant did not demonstrate
that it actually performed the activities which
were necessary to put Respondent in the condition
to package in case of urgency, not only pursuant
to the agreement but also according to the
standard practices of the field. - Thus, the award was in favour of the Respondent
German Company.
75Playboy Enterprises v. Bharat Malik Another,
Delhi High Court 2001 PTC (21) 328
- INFRINGEMENT OF FOREIGN TRADEMARK
- FACTS
- Playboy Enterprises Incorporation has been the
publisher of the widely known magazine PLAYBOY
filed for restraining an Indian publisher Mr.
Bharat Malick, who launched PLAYWAY.
76- Plaintiff contended that the adoption of the word
'PLAY' by the defendant was ill motivated and
illegal. And that the word was phonetically
similar to the mark PLAYBOY. - Hence, there was a clear case of infringement of
the registered trademark of the plaintiff with
the intention of selling the defendants magazine
using the goodwill and reputation of the
plaintiff. - Court held that long and continuous user by
Plaintiff of the mark PLAYBOY has given it a
global reputation of being well known in that
content. Thus, use of mark PLAYWAY for similar
content amounts to infringement and passing off. - Defendants were restrained from printing and
publishing the magazine under the name PLAYWAY.
77HORLICKS LTD. ORS. V. KARTICK SADHUKAN 2002
(25) PTC 126 Del
- FACTS
- HORLICKS Ltd. is a foreign company engaged in
manufacturing of wide range of food products. - KARTICK CONFECTIONERY started manufacturing a
similar look-alike product, namely, toffees under
the trademark HORLIKS infringing the trademark
rights enjoyed by 'HORLICKS. - SUIT HORLICKS filed for a suit seeking to
permanently restrain - KARTICK CONFECTIONERY from infringing the
trademark - HORLICKS and also its copyrights which it
enjoyed over the - product.
78JUDGEMENT
- The court ruled that use of the label and
trademark HORLIKS by defendants in respect of
toffees is very likely to cause confusion among
the people. It would thereby lead to deception
and thus it restrained Kartick confectionary from
use of the mark HORLIKS or under any other name
that is similar in expression to Hs trademark
HORLICKS.
79ICC DEVELOPMENT INTERNATIONAL V. ARVEE
ENTERPRISES ANOTHER2003 PTC (26) 228
- FACTS
- ICC Development (International) Ltd., exclusive
owner of rights pertaining to logo/word/ for
World Cup. - Arvee Enterprises was an authorized dealer of
Philips India Ltd. Launched a Promotional
campaign with slogan - "Philips Diwali Manao
World Cup Jao" and "Buy a Philips Audio System
win a ticket to the World Cup". They even
inserted a pictorial representation of a ticket
with an imaginative seat and gate number saying
"Cricket World Cup 2003.
80- SUIT
- ICC approached the Delhi High Court for restrain
against the Defendant on the averment of ambush
marketing. - JUDGMENT
- Court dismissed the suit of ICC and asserted that
the practice of Arvee was neither it was an
Unfair trade practice nor misuse of brand of
World Cup. - Court upheld that World Cup is a sporting event
and not a trademark upon which exclusive rights
would vest with Plaintiffs as claimed.
81WIPRO CYPRUS PRIVATE LIMITED V. ZEETEL
ELECTRONICS 2010 (44) PTC 307 (MAD)
- FACTS
- Wipro Cyprus Private Ltd acquired the trademark
Yardley and all its variants thereupon from
Lornamaed Group Ltd including its Indian
registrations. - Zeetel Electronics attempted to import talcum
powder and body sprays having the same trademark
Yardley from - Singapore.
- SUIT
- Wipro filed for a suit of permanent injunction
- against Zeetel.
82JUDGEMENT
- Madras High Court restrained Zeetel from
importing the goods in India thereby it upheld
the exclusive right of Wipro on acquisition of
brands for India. - Thus, on the basis of license and sale of
registered Trademarks competitor was curbed from
doing business of goods under that trademark.
83NOKIA AND SAMSUNGFebruary 1, 2016
- The convoluted litigation between Nokia and
Samsung concluded with an arbitral award which
settled the patent disputes between both the
corporates. The award also assessed the
compensation for extension of Patent license for
a few years. - Multifarious and complicated issues of cross
patents, technology its scope and ambit can be
best adjudicated by the mode of Arbitration as
strict laws of civil procedure and evidence would
only impede the decision and not enhance its
redressal
84TESSERA TECHNOLOGIES, INC. VS. AMKOR
TECHNOLOGY, INC.
- The parties entered into a license agreement in
1996, and agreed that all disputes would be
submitted to final and binding arbitration before
the ICC. - The tribunal convened by the ICC found that Amkor
had intentionally and materially breached the
parties' license agreement, and that, as a
result, Tessera, Inc. properly terminated the
license agreement in 2011. - The total award of approximately 145 million
85MITSUBISHI MOTORS CORP. VS. SOLER
CHRYSLER-PLYMOUTH, INC. 473 U.S. 614 (1985)
- Petitioner brought an action in a US District
Court seeking an order compelling the parties to
arbitration in pursuance of the sales agreement. - Respondent alleged that the dispute involved
antitrust claims (division of markets resulting
in restraint of trade), which are not arbitrable. - The court held that International Arbitration can
settle all disputes.
86CONCLUSION
- Export/Import Contract should always be entered
into - Incorporation of all suitable terms and
conditions in the Contract - Arbitration clause plays an important role for
dispute settlement. - Terms of breach, indemnification and insurance
plays are of paramount importance - Payment method should be secure, suitable and
acceptable to both - Exporter/Importer should ensure that the relevant
Intellectual property rights are secured both in
domestic as well as international arena - In case of conflict, do not delay, initiate
action quickly.
87- THANK YOU
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