Legal Services

In this blog, we discuss the International Trade Law and its sources from where it emerges. This blog will give an overview of the international trade law. Today the whole world emerges as a single market and the whole world is engaged in cross border commercial activities. This blog is only for educational purposes and is an introductory source.

What is international trade law?

International Trade Law is a law which governs the state's and private party's trade in the global market. Interstate Trade law can be defined as "the unified set of rules and the policies applying to operators and operations in International Commerce".

A Latin word that refers to a suite of business principles used by merchants from all over Europe during the Middle Ages is Lex Mercatoria. It is in essence a sign of Merchant Law. It is the set of applicable rules on international trade which have been developed through customs and usage between the trading states and recognised by the national judicial systems. It is unwritten rules of law based on custom and usage. The term Lex Mercatoria is a Latin phrase denoting a corpus of commercial principles employed by merchants across Medieval Europe.

TIn the European Continent when industrialisation was rapidly growing, in the 19th and 20th centuries, the trade between the states. Then the need for a unified set of rules in International Trade emerges. After the first global conflict, the rapid expansion of global exchange revealed the want for a set of unified standards and rules.

Global Trade law is a complicated count which entails several branches of the regulation (industrial regulation, commercial enterprise, financial organization, logistics regulation, international payments law) and attracts a couple of sources (countrywide legal guidelines, global conventions, Lex Mercatoria).

It is important to understand the types of International Trade Law which regulate it. The first is Public International Trade Law and on the other hand is the Private International Trade Law. The first type governs the trade relations between states and the second one governs the trade relations between private individuals of the states.

• Avoid scams by acting locally or paying with PayPal
• Never pay with Western Union, Moneygram or other anonymous payment services
• Don't buy or sell outside of your country. Don't accept cashier cheques from outside your country
• This site is never involved in any transaction, and does not handle payments, shipping, guarantee transactions, provide escrow services, or offer "buyer protection" or "seller certification"