International Business Transactions

Globalisasi yang turut mendorong maraknya aktivitas jual-beli di tingkat internasional menuntut dilakukannya unifikasi hukum guna mengatasi perbedaan aturan kontrak jual-beli yang terdapat pada masing-masing hukum nasional. Dengan menggunakan metode penelitian hukum normatif dan berfokus pada aspek kewajiban para pihak dalam kontrak jual beli internasional, tulisan ini melakukan komparasi aturan yang terdapat pada KUHPerdata Indonesia dan the United Nations Convention on Contracts for the International Sale of Goods (CISG). Kasus sengketa kontrak jual-beli antara grup perusahaan Inggris dan kongsi dagang Denmark turut dikaji guna mendapatkan pemahaman khusus mengenai aspek pengaturan yang lebih spesifik dalam kontrak jual-beli produk yang berhubungan dengan kesesuaian barang (conformity of goods). Perbedaan mencolok dari CISG dan KUHPerdata adalah terkait pendekatan yang dilakukan manakala ditemukan ketidaksesuaian barang. Melalui komparasi aturan dan analisis yang dilakukan dapat ditarik kesimpulan, bahwa belum cukup alasan bagi Indonesia untuk mengadopsi CISG. Ketentuan dalam KUHPerdata telah memenuhi aspek-aspek yang menjamin kesesuaian barang dalam perjanjian jual-beli serta memberikan jaminan yang baik terhadap hak dan kewajiban para pihak. KUHPerdata pun memiliki kelebihan yang tidak dimiliki CISG, di antaranya terkait akta jual-beli, bunga, dan biaya tambahan lainnya. Terkait kewajiban penjual, KUHPerdata lebih lengkap mengatur tentang pernyataan penjual terhadap pengikatan dirinya dalam suatu kontrak. Selain itu, terdapat rekomendasi bagi pembangunan hukum Indonesia untuk merumuskan ketentuan tentang kriteria barang yang tidak sesuai, serta upaya alternatif bagi para pihak atas kondisi ketidaksesuaian barang yang ditemukan.

This research aims to determine the influence of game-based instruction in improving students' learning retention. Ascertain the difference in the students' learning retention of the group and individual game-based instruction. The researchers utilized Action Research Design, specifically Collaborative Action Research Design. The data collection was done through both quantitative and qualitative approaches. A game-based instruction and interview were employed to collect the required data. Based on the results the respondents found the 5Ps as an assessment tool that helps retain information. This indicates that collaborative game-based activity is effective for the students in acquiring knowledge and skills. The results indicate that the student’s performance in Group game-based obtained better scores than the Individual game-based. Results indicated that group game-based instruction is highly beneficial and significantly contributes to the enhanced learning retention of the ...

The focus and scope of this work aims to reach the interest of practicing lawyers engaged in cross-border transactions between Mexico and the United States.  To this purpose, this work is based on the analysis of four different bilingual promissory notes actually used while doing cross-border transactions between Mexico and the United States. However, the names of the parties involved and the figures included in such documents have been changed. These four bilingual promissory notes are included as attachments I to IV to this piece.

This qualitative study explores the multifaceted landscape of career development among third-year accountancy students enrolled in the Bachelor of Science in Accountancy program at PUP Santa Maria Bulacan Campus. Grounded in Savickas' Career Construction Theory (2002), the research delves into students' evolving career goals, perceived skills preparedness, and identified areas requiring more focus within their education. A comprehensive literature review integrates findings on the significance of aligning educational programs with career goals, the impact of skills preparedness on job satisfaction, and the importance of student feedback in enhancing accountancy education. The theoretical framework synthesizes these insights, emphasizing the adaptive and constructivist nature of career development. Five qualitative interview questions were formulated to capture the nuances of students' experiences and perceptions. The study contributes valuable insights to the ongoing discourse on accountancy education, aiming to inform curriculum development and educational strategies that align with both students' aspirations and industry demands. The findings hold implications for educators, policymakers, and stakeholders in refining the effectiveness and relevance of accountancy education programs.

With the growth in the use of electronic communications technologies to communicate important business and trade information, the size of the earth, although it may remain at the present 7,900 miles in diameter, is rapidly shrinking. In a matter of seconds, commercial trade data can be exchanged between parties thousands of miles apart, leading to the establishment of new business relationships. In the emerging new global economy, data, information, goods, and services are being exchanged internationally. No longer are parties to a commercial transaction bound by artificial national boundaries with their accompanying sets of domestic legal rules.

We believe small is beautiful. When small businesses can grow faster and grow healthier, it will benefit the whole society. Despite the immense contribution and great potential in the SMEs to the economy, various research indicate that they suffer from various areas such as the lack of proper knowledge on working capital management Practices which in turn poses a threat on the survival of Small and Medium Enterprise. A good number of firms have put sufficient cash in working capital. Working capital management (WCM) is an important factor of financial management (FM). Debtor, creditor and inventory are the major components of working capital (WC). This research was targeting the manufacturing firms in Kigali city, Rwanda. This is because manufacturing as the growing sector is heavily contributing to the growth of Rwanda’s Economy and EAC region. The data were collected through paper and pen questionnaires as well as electronic questionnaires on 180 respondents from manufacturing firms at Kigali City during the year 2022 covering the year 2021. It was analyzed using the statistical software Statistical Package for the Social Sciences (SPSS) using descriptive statistics and Pearson’s correlation coefficient.

Learning progress exists in every classroom. This study aimed to determine the effect of the utilization of “Balanced Money. Balanced Life.”, a strategic intervention material in enhancing the performance level of Grade 11 ABM learners in journalizing service business transactions. First, the performance level of the learners was assessed before and after the implementation of the utilization of SIM. This was conducted through getting the mean score from the pre-test and posttest of the learners. Based on the results, the learners were categorized as Beginning level in their pre-test while in their posttest, the learners are categorized as Approaching Proficiency. Second, it was tested if there is a significant difference between the performance level of the learners before and after the utilization of SIM. This problem was addressed through the conduct of T-test for paired observation where it was proven that there is a significant difference between their scores in pre-test and posttest. Third, the researcher gathered information regarding the experiences of the respondents in utilizing the SIM. Lastly, ABM teachers shared their suggestions for better implementation of the utilization of the SIM. Moreover, the result made the researcher realized that the use of a Strategic Intervention Material has an impact on the performance level of ABM learners in journalizing service business transactions.

A. What Transactional Lawyers Need and Law Schools Do Not P ro vide .................................... ...................................................... ... III. The M CC-KJH Simulation Exercise ..................................... ...................... ... IV. Strengths and Weaknesses of the MCC-KJH Simulation Exercise .......... ...

The Principles and Importance of Free on Board (F.O.B.) and Cost Insurance Freight (C.I.F.) Contracts in the Contract of International Sales of Goods 1 hereinafter referred to as the Act 2 Hereinafter referred to as F.O.B. 3 (1884) 12 QBD p. 564 4 ibid.

The Legislature is an important institution of government in a democratic system of government as Nigeria, especially the bicameral legislature, made up of the Senate and the House of Representative. It was against this background that this study is on the impact of corruption on the function of the legislature. The study adopted content analysis. Documentary ideas as expressed in text books, journal articles, magazines, Internet and Newspapers was analyzed and utilized. Its objective is to identify how corruption scuttled proper democratic representation in the National Assembly in Nigeria. The study discovered that the members of the National Assembly, i.e. Senate and the House of Representative were only concerned with their personal interest and not the interest of the public that voted them into the various houses to represent them. In conclusion, the study identifies corruption as the reason why the National Assembly was not able to do proper legislation. It was therefore recommended that the legislature should be operated on a part-time basis and the number of sittings and the membership at both the lower and upper chambers should be drastically reduced.

This article provides a detailed introduction to China's launching of a digital currency. We conduct a comparative analysis concerning whether digital currency is a more stable and reliable currency than cryptocurrency and investigate whether a digital renminbi (or yuan) could replace the US dollar as a medium of exchange in international transactions. China has gained a first-mover advantage by rolling out a central bank digital currency (CBDC). But the outcome will depend on the US response as well as the future evolution of the US and Chinese economies. Most other articles on this topic focus on domestic use of the Chinese CBDC. But this study is unique in analyzing the prospects of a digital renminbi as a replacement for the US dollar in international commerce.

Customers are more and more deciding to use various types of services via Internet. They make very often different types of purchases. E-commerce is becoming more and more popular and developed. Unfortunately, according to customers, online shopping is not free from problems. Customers are afraid that the ordered goods will not be sent to them, will not meet their expectations, or will be destroyed during transport. An important aspect is also the payment method for this type of shopping. Customers often prefer to pay more to use the option of payment on delivery to avoid losing money if the ordered goods do not be delivered to them. The purpose of the paper is to analyze the safety of services offered via Internet. In the research the customers of different e-shops expressed their opinion on problems that may affect the safety of the offered services. Thanks to the research, it was possible to identify risk areas in accordance with the opinion of customers.

The Internet has grown tremendously in the recent and many of its applications have been used by people all over the world. On-line shopping which is a recent phenomenon in the field of e-commerce is definitely going to be the future of shopping in the world. It seems that online shopping has been one of the ways that customers shop nowadays especially to the younger generations and working people. Most of the young working people have accessed to Internet and many have started to sell and buy online. Though online shopping is quite common now, its growth in Malaysian market is still not in line with the global market. The potential growth of online shopping has triggered the idea of conducting an exploratory study on online shopping in Malaysia. A survey was carried-out with 168 part-time students who work in Klang Valley area and also currently study in UKM. In addition to the survey, 15 face-to-face interviews were carried-out with available respondents after they answer the surv...

Abstract: The purpose of this study, drawing on marketing and psychometric paradigms, is to investigate the effect of risk perception dimensions on apparel internet purchase intention among Saudi consumers. A web-based survey was conducted to measure consumers ’ perception of the six types of risk associated with apparel online shopping and their influence on purchase intention. Three hundred responses were collected. Results showed that not all the considered risk constructs have the same influences on apparel internet purchasing intention. Specifically, time and performance risks have the most significant influence followed by privacy and social risks.

The moment at which risks on merchandise are transferred is a fundamental question in sale contracts.   In international system, business uses standardized clauses whereby contracting parties define the time of that transfer. They are called Incoterms and are typical of international business dealings. Nevertheless, these clauses are admitted into Brazilian law, not only in relations of a transnational character, but likewise in internal contracts. Such a transposition, however, is not always explained, although the jurisprudential application of the Incoterms is similar to the international tradition.   The objective of this limitation is to show how Incoterms has been taken on by current jurisprudence.   Understanding it, would help explain its role in Brazilian Law.Â

Development of any society is meant to enhance the living standard of citizens. However, where there are challenges of accountability, development is more likely to be a mirage. Past studies in Nigeria on the challenges of leadership and sustainable development identified corruption and lack of required skills on the part of public officials to perform in terms of proper policy formulation and implementation among others. The main goal of this article is to explore the relationship between accountability for the sustainable development and the challenges of leadership in Nigeria. With the analysis of data obtained from secondary sources, this present study identified lack of accountability for sustainable development to include the challenges leadership, unethical behavior, poor maintenance culture, poor management of resources, corruption on the part of public officials, and inadequate funds to execute projects in Nigeria. This article therefore recommends, among others, the need f...

This article analyzes the Mining Laws enacted in Ecuador since 1886 and mainly topics related to mining rights, such as ownership of minerals, types of mining concessions and contracts, granting procedures, transfers and encumbrances, and rights to use the land surface. In the second part, this article reviews the legal and regulatory framework currently set forth in Ecuador for the Exploitation Mining Contract, which includes the legal and regulatory reforms of the Government since 2010, for the purpose of clarifying certain mining and tax matters affecting the mining industry.

This article offers an original case study of the failed sale of Victoria's Secret's business to examine the deep consequences of the covid-19 pandemic in the context of M&A transactions. After presenting the case, it draws two lessons from it by: (1) proposing a multi-layered analysis of the effects of covid-19 depending on the type of event considered and on the contract language, and (2) exploring the possible reshaping of the termination right in connection with the dramatic variations of the target's value during the interim period caused by covid-19.

In the contemporary political system, civil society has become buzzword to remedy state anomalies across the world. Thus, civil society as a non-state actor is saddle with responsibilities for providing critical support to the citizenry particularly, in the areas of social services, humanitarian aids, economic empowerment, encouragement of political participation, equity and social justice and other productive economic activities. More importantly, civil society has become the popular agent for instituting accountability, transparency and good governance, restraining state abuses, resisting the untamed effects of market forces and strengthening public scrutiny. It is in this context that this study brought to the fore, some of the critical factors that have necessitated the transformation in the role of civil society as part anti corruption forces and panacea to a failing state in Nigeria’s Fourth Republic. Importantly, the central focus of this paper is the examination of the critical areas of importance in which civil society organisations have contributed in the fight against corruption under President Goodluck Jonathan. The paper submits that until the civil society organisations are able to transcend the web of merry-go-round workshops, conferences, summits, press statements, monitoring of government activities and feeble protests into concrete actions with irresistible determination for productive response on the part of the government, hence, civil society in Nigeria will continue to be in danger of repression from government forces. In view of the foregoing, civil society organisations must congregate to develop national action plan for the fight against corruption and eventual enthronement of good governance in Nigeria. 
Keywords: civil society, failed state, anti corruption

The continuous outcry of the citizens on the evils of corruption and its consequences on national development motivated this study. The major objective of this study was to examine the impact of corruption on sustainable economic growth and development of Nigeria. Data were drawn chiefly from secondary sources and subjected to econometrics tool of ordinary least square techniques. The major finding among others are weak institution of government; dysfunctional legal system; lack of transparency, high poverty/unemployment rate and political interference on the operations of anti-corruption agencies constitute the major causes of systemic corruption in Nigeria. This study therefore advanced among other propositions restoration of the lost social value system through the family unit, religion and schools; as well as entrench good governance.

The philosophy of education at Flinders Law School emphasises the acquisition of foundation legal skills, includ-ing interpersonal communication such as interviewing and negotiation, in a program which is designed to foster inde-pendent learning. As part of this commitment, ...

In this short piece we provide an interactive, annotated International Business Transactions (IBT) syllabus. The introduction and annotations seek to connect the current discourse on experiential legal education to andragogy — the study of adult learning.

In 2013 we set out to re-develop a 3-credit IBT course. We applied various experiential pedagogical methodologies — developed initially to train Israeli air force pilots and later adapted to medical training and grounded in theoretical and empirical education research — to serve in a traditional IBT course. The goal was not only to develop legal skills such as negotiation, contract drafting, and client counseling but more importantly to impart knowledge including legal doctrine, legal theory, and policy considerations through the use of a series of structured, in-class experiences.

The piece includes embedded documents as part of the interactive reading experience. It is therefore best viewed in Adobe.

Note: If you find this short piece useful you may also wish to view a short youtube video in which Orit and Maya walk through the recently-launched Simulation and Training Center at the Ono Academic College, Israel.

The paper reexamines and discusses the causes of the failure of the French economic missions to implement a sound monetary and financial system in Romania between 1928 and 1933. Banque de France Deputy Governor Charles Rist, also professor of Economics at La Sorbonne University, was the leading personality of the delegation which included, among others, Roger Auboin as permanent Conseiller Technique (adviser) at the National Bank of Romania. We recall the objective of the missions and the economic and political context of Romania in 1928-1929. Then, from the study of official documents and correspondence between the members of the French mission, we propose a first set of reasons explaining the failure: (i) the French side underestimated the difficulty of reaching stability by implementing monetary measures only, (ii) the Romanian Central Bankers and Public Officers found it difficult to admit at the time the necessity of applying stricter discipline in Public Finance in order to re...

Governments exist among others to implement policies for the enhancement of the living standard of citizens. To accomplish this goal, public enterprises are established to provide goods and services. With the use of secondary data, the paper examines privatization policy in Nigeria. It observed government interference, lack of transparency and accountability as the major hindrances to the successful implementation of the policy. The paper therefore recommends that for privatization to achieve its goals, government should stop interfering in the implementation of the policy and appoint people of credible character to manage the implementing agency of privatization in Nigeria.

This paper will discuss some features of one of the most used type of contract in international sale of goods, the FOB (Free on Board) contract. The focus will be on the Common Law f.o.b. terms identified in Pyrene and Co Ltd v Scindia Navigation Co Ltd  and the “FOB named port of shipment” term under Incoterms 2010. Several transnational legal instruments will be used to elucidate the legal implications of drafting an f.o.b. contract under a specific source of trade terms and how seller’s and buyer’s rights and duties differ significantly among f.o.b. terms. This paper will therefore reconsider the general consensus that f.o.b. contracts are a flexible instrument.  Indeed f.o.b. contracts often allow traders to stipulate terms that may satisfy very specific needs and desires, yet once these terms have been agreed they give existence to obligations and rights that traders are bound to respect.

It has been argued by scholars that no nation can fully achieve its development potentials without democratic governance as engendered and supported by vibrant civil society. In this regard, civil society (CS) is seen as the engine of democratic governance (DG) and development of nations. Utilizing secondary data, the paper examines CS, DG and development in Nigeria. It finds that the nation‘s inability to enjoy DG for development in the past is the absence of continuous vibrant CS arising from weak support and lack of tolerance for the activities of CS organizations by the government and also, the non-adherence to democratic norms by public officials both in words and action. The paper concludes that for the citizens to enjoy DG there is the need for the CS organizations in the country to unite in their activities against repression, and resist every attempt by the government to cause division within their ranks as strategy for the successful entrenchment of democratic norms and its resultant dividends.

Development is highly desirable in any society because it enhances people's standard of living anywhere in the world. However, there are some basic procedures to follow in doing business and in the handling of government activities before development can take place; and the Nigerian society is not an exception. With the use of secondary data, the paper examines ethical issues and Nigeria's quest for development. It observed the lack of proper ethical standards (PES) and behaviour as a way of carrying out business and government transactions by the citizens and public officials as the major obstacles to the realization of Nigeria's quest for development. The paper therefore recommends that for the nation to achieve its goals of development, the Nigerian government should inculcate into the citizens, the need to imbibe PES and behaviour as a way of life both in public and private sectors of the nation's economy. These could be achieved through the imposition of stiffer penalty on those found to be involved in an unethical behaviour, no matter their position or status in the country; which would serve as deterrent to others.

In the global business, competitiveness has become a buzzword and to achieve it every enterprise has been looking for the cost reduction methods in production and marketing of goods internationally. One of such element of on this account is getting the international VAT refunds from the foreign tax authorities which knowingly or unknowingly is not being claimed by many firms because of complicated rules, regulations and time consuming and cumbersome refund systems. The expenses on VAT, therefore, are normally included in the cost of production and marketing, which otherwise can be saved by reclaiming VAT from the foreign tax authorities to increase profitability of the units engaged in international business.

"Gli strumenti economico-finanziari (come i contratti di compravendita, i prestiti fruttiferi, i titoli al portatore,le anticresi, le promissory notes,i derivati, l'usura, ecc.) sono una componente fondamentale della vita economica del nostro mondo globalizzato. Da ciò la domanda: quando essi sono nati, quali sono  le loro origini?
L'essere umano nasce con il feto dalla cui EVOLUZIONE abbiamo il neonato, fanciullo, adulto, vecchio. Tali diverse fasi evolutive (in cui il neonato è PROFONDAMENTE diverso ad esempio dal vecchio) attengono però a un unico evento: l'UOMO: Volendo narrare la storia dell'uomo occorre quindi partire dal feto per giungere poi gradualmente alla fase della vecchiaia. Cosa analoga accade per gli strumenti economico-finanziari (pensiamo alla compravendita, ai prestiti, ecc.). I caratteri originari di ognuno di essi  sono più o meno diversi da quelli attuali ma purtuttavia attengono alla evoluzione dello stesso strumento economico sia esso compravendita, prestito, ecc. La nascita degli strumenti economico-finanziari va quindi collocata in Mesopotamia.
"

The history of French foreign exchange control has formerly been presented as the succession of four stages. During the interwar, a memorial historiography underlined the positive role of liberal Chambers of commerce, and the negative role of oil cartels. During the Second World War and immediate after-war, foreign exchange control would have been centralized as a State policy. The 1950's would have seen two elite groups, from the French National School of Administration and the Mines School, fight for the control of this policy. The 1960's would have seen the pressure of USbacked international organizations leading to a reorganization of the system based on the objectives of efficiency and rent-management. This paper proposes a new narrative based on new historiographical, archival and empirical evidence. It underlines the continuity between cartels and State regulations during the interwar, the dissolution of the system amidst particular interests during and immediately after the war, and the central role of the rivalry between French and anglo-saxon big companies during the 1950's. It challenges the idea of an end of the system, during the 1960's, caused by rising inefficiencies. On the contrary, its achievements led to a reorganization, maintaining its core features till today. The end of its quantitative impacts didn't mean its institutions of negotiations and information lost their central role in matters of economic policy.