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Model Contracts | ||||
An international business transaction requires a precise and detailed underlying contract. However, it can be expensive and time-consuming to draft such a contract oneself. The ICC Model International Sale Contract provides a solution in presenting a set of clear and concise standard contractual conditions for the most basic international trade agreement. Although this Model is denominated a 'sale' contract, it is equally appropriate for use by buyers as it balances the interests of exporters (sellers) and importers (buyers). It may therefore also be used for a so-called 'purchase' agreement. The model contract is divided into two parts: Specific conditions, which allow the parties to use the Model directly by filling in the blanks in the form; and General Conditions, which provide a platform of standard legal terms and thus a reference tool for contract drafting or negotiation. These General Conditions may be used together with the Specific Conditions, or independently. The ICC Model International Sale Contract is specifically adapted for transactions governed by the UN convention for the International Sale of Goods (CISG) which is annexed and applies to an increasingly large volume of international sales. | ||||
