TAILIEUCHUNG - The Incoterms 2000

By Maria Livanos Cattaui, Secretary General of ICC The global economy has given businesses broader access than ever before to markets all over the world. Goods are sold in more countries in larger quantities, and in greater variety. But as the volume and complexity of international sales increase, so do possibilities for misunderstandings and costly disputes when sales contracts are not adequately drafted. Incoterms the official ICC rules for the interpretation of trade terms facilitate the conduct of international trade. Reference to Incoterms 2000 in a sales contract defines clearly the parties' respective obligations and reduces the risk of legal. | Part Two. Studies and reports on specific subjects 599 i upon issue of a certificate of Default by a third party who may without limitation be an independent architect or engineer or a Pre-Arbitral referee of the ICC if the Bond so provides and the service of such certificate or a certified copy thereof upon the Guarantor or ii if the Bond does not provide for the issue of a certificate by a third party upon the issue of a certificate of Default by the Guarantor or iii by the final judgement order or award of a court or tribunal of competent jurisdiction and the issue of a certificate of Default under paragraph i or ii shall not restrict the rights of the parties to seek or require the determination of any dispute or difference arising under the Contract or the Bond or the review of any certificate of Default or payment made pursuant thereto by a court or tribunal of competent jurisdiction. k A copy of any certificate of Default issued under j i or ii shall be given by the Guarantor to the Principal and the Beneficiary forthwith. l The Guarantor shall consider any claim expeditiously and if such claim is rejected shall immediately give notice thereof to the Beneficiary by authenticated tele-transmission or other telefax facsimile transmission telex cable or EDI confirming the same by letter setting out the grounds for such refusal including any defences or other matters raised under paragraph d of Article 3. Article 8 Jurisdiction and settlement of disputes a The Applicable Law shall be the law of the country selected by the parties to govern the operation of the Bond and in the absence of any express choice of law shall be the law governing the Contract and any dispute or difference arising under these Rules in relation to a Bond shall be determined in accordance with the Applicable Law. b All disputes arising between the Beneficiary the Principal and the Guarantor or any of them in relation to a Bond governed by these Rules shall unless otherwise agreed be .

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