In the era of digital globalization, dumping has taken on a new form. With the emergence of new technologies, the game has changed and companies can now use digital tools to identify markets where demand is high and costs are low. This has led to an increase in the number of products being sold in … Read more
In December 2020, the European Union, together with 17 other countries, including the United States, Canada, Japan, and Australia, adopted a new Code of Conduct on Export Controls and Human Rights (ECHRI). The ECHRI Code of Conduct aims to balance national security concerns with the protection of human rights in the context of international trade. … Read more
International Chamber of Commerce (ICC) Arbitration Rules are widely recognized as one of the most effective and reliable means of resolving commercial disputes arising from international business transactions. These rules govern the proceedings of the arbitration process and are designed to provide a fair and efficient resolution of disputes between parties from different countries. In … Read more
Commodities trading is a complex process that involves various steps to ensure a successful transaction between the buyer and the seller. In this article, we will provide a step-by-step guide to the sale process in commodities trading, using a typical procedure as an example. Step 1: Buyer Issues an LOI The first step in the … Read more
In this article, we will explore the most commonly used abbreviations in international trade, providing you with a thorough understanding of the terms and their implications. Each abbreviation will be concisely explained in one or two paragraphs, giving you a clear and accessible resource for navigating the complex world of global commerce. Read on to … Read more
In international trade, an Irrevocable Master Fee Protection Agreement (IMFPA) is a legal document that outlines the fees and commissions payable to intermediaries, such as brokers and agents, for their role in facilitating a transaction. The IMFPA is a binding agreement between the parties involved in the transaction, and it is typically used in large-scale … Read more
International trade is essential for the growth of businesses and economies worldwide. However, financing international trade can be a complex and risky task, especially for small and medium-sized enterprises (SMEs). Traditional financing options, such as bank loans and letters of credit, may not always be available or suitable, leaving many businesses struggling to secure the … Read more
South Korea has emerged as an economic powerhouse over the past few decades, boasting the world’s 10th largest economy and a GDP per capita that rivals many Western European nations. Its rapid economic growth and technological advancements have made South Korea an attractive market for international businesses looking to expand their operations. However, the country’s … Read more
Economic and geopolitical integration have been important drivers of global growth and prosperity, facilitating the flow of goods, capital, and people across borders. However, this process has not been without its challenges, and the current global landscape is characterized by a complex and dynamic mix of opportunities and risks. In this article, we will explore … Read more
Commercial procedures for the international trade of commodities can be complex, involving numerous documents, payment instruments, and third-party inspections. To facilitate these transactions and provide a framework for the parties involved, the International Chamber of Commerce (ICC) has developed guidelines and procedures that are widely recognized and used in the industry. In this article, we … Read more