International sale of goods laws: Australia and China Essay Example

when foreign transactions occur frequently. To address this issue stemming from globalization, a standardized set of rules and regulations applicable to all multinational transactions is needed. Consequently, the most reliable and well-known regulations offer an immediate solution.

English laws have become a popular solution for multinational businessmen looking to address the issue of uniformity in international trade law, even if their transactions are unrelated to the UK. For instance, an Argentinean selling Soya bean meal in bulk to a Swiss buyer using US dollars as currency may use CIF Antwerp shipping terms based on English laws for their contract agreement[1]. However, while this trend has gained traction, it is not a comprehensive or binding solution for the global trading community. To achieve that goal, an international convention must be established. The United Nations Commission on International Trade (UNCITRAL), which is dedicated to pursuing uniform trade laws globally, offers potential solutions.

The Vienna Convention in the 1980s brought together representatives from European countries and the United States to create Contracts for the International Sale of Goods (CIGS) with the goal of establishing a global legal system for international trade transactions. It took twelve years to prepare for this convention. Participating countries worldwide still support CIGS, but it should be noted that not all transactions are identical, so its universal application cannot be assumed. The original and their contents have been maintained.

The Vienna Convention's application of a single uniform law with a "one size fits all basis" is being questioned due to doubts and the need to study the appropriate treatment for a variety of international sales transactions [3]. The campaign to establish uniform laws for international sale

of goods has yet to be successful, as there are natural differences in various transactions that are too vast to be united in a single treaty. Understanding the differences between two countries with contrasting economic conditions, culture, and basic law foundation will provide a clearer view on this matter.

International trade is influenced by the economic backgrounds and laws of countries. Each country's unique economic and legal structures shape the trade laws and regulations governing international trade. The development of a country's trade laws is also affected by its national background, including geographical location and culture. This can result in varying trade regulations for countries with distinct export commodities. Furthermore, a nation's political tendencies have an impact on its international trade laws.

This falls under II - 1.

With a population of 20 million, Australia boasts diversity with immigrants from 200 countries and 4.1 million individuals who speak a second language. The country's highly qualified workforce comprises around 10 million people, including graduates holding diplomas and university degrees. Furthermore, Australia has made significant economic strides such as reducing government debt by $66.6 billion since 1996 and maintaining inflation levels between 2 to 3 percent since 1991. As per the IMF, Australia is forecasted to achieve a robust growth rate of 3.

The government's financial outline reveals a financial surplus since 1998 and predicts a 5% growth for 2004. Productivity in Australia has experienced significant growth [4]. In 2002, Australian exports reached A$ 151 billion, with the highest export destinations being Japan (A$ 22.1 billion), United States (A$ 11.5 billion), and Korea (A$ 10 billion) (“Export, growth and technology” 2003). Additionally, Australian international services exports saw a total of over

$10 billion in 2003 [5]. II.

1. Australia is taking steps to reduce legal risks associated with cross-border transactions in order to encourage multinational trade activities.

Various strategies have been implemented by Australian companies to handle risks, such as transferring risk to another party, avoiding foreign law impact, increasing fees to compensate for risk or accepting it without protection. The government has also taken steps to address urgent concerns like major cross-border risks, legal issues in specific countries and industries important to Australian businesses, bilateral and regional matters, non-legal solutions and options with appropriate time frames for resolution.

The legislation in Australia regarding exports and quarantine is designed to ensure that goods being exported meet high standards of quality, with a focus on protecting animals, plants, human health and the environment. These laws also mandate strict quality requirements to satisfy foreign countries, as the export trade is crucial for maintaining Australia's high standard of living. AQIS and industries collaborate closely with Australia to define standard requirements for exporting goods and services as per legislation.

Industry should adopt management systems to conform with laws, while AQIS systems must investigate and ensure conformity between goods/services and the laws.

AQIS has the authority to either permit or prohibit export activities, depending on compliance [8]. Additionally, Australian International Initiatives demonstrate Australia's dedication to worldwide trade liberalization.

Australia has become a member of both the General Agreements on Tariffs and Trade (GATT) and the World Trade Organization in order to reduce trade barriers. In 2003 and 2004, they achieved Free Trade Agreements with Thailand and the United States respectively, as well as entering into a Trade and Economic Framework agreement with Japan. Currently, Australia is conducting

a feasibility study to potentially establish an FTA with China.

Australia has participated in various efforts towards achieving uniformity in international law, including attending the UNCITRAL conference which focused on five main areas, including the international sale of goods law. Additionally, Australia is a member of the Hague Conference of Private International Law and in 1980, they participated in the United Nations Convention on Contracts for the International Sale of Goods [10].

II. 1. 4 Australia's approach to International Agreements is guided by three main principles that aim to minimize risks for Australian firms engaged in international trade. These principles have been further refined into a comprehensive program. The first principle dictates that each agreement should include a provision for reducing any legal risks faced by Australian firms, and that outcomes should be measurable in order to gauge the success or failure of said provisions.

2. It is important to carefully assess every International Agreement for its achievability, which is dependent on factors such as political will. The reason for this principle is that while some conventions have yielded great agreements, they have often fallen short in terms of implementation. 3.

Michael G. Bridge discusses the Law of International Sale in relation to Australia's prioritization of achievable outcomes [11].

The website "http://www.cisg.law.pace.edu/cisg/biblio/bridge" was created in 2003.The following text, including its and contents, has beenand unified:

The article titled "A Successful Global Trader" was published in 2003 by Australia Now. It can be found at the website http://www.dfat.gov.au/facts/search and is identified with the codes [2], [3], and [4].

On April 22, 2005, the website "http://www.dfat.gov" provided access to an article titled "Exports: growth and diversity" from Australia Now in 2003.

The information was enclosed within a paragraph tag.

Within http://www.alrc.gov.au/facts/search, the Australian Law Reform Commission offers information related to "Remedies, Commerce and Cross Border Risk." Their publication titled "International Initiatives" can also be found on this website.

The search page on alrc.gov.au/publications is referred to as [11] Idem 11.