European and International Trade Law

Problems that are frequently arise in the field of imports and exports are mainly due to uncertainty as to which law must be applied in respect of contracts, to insufficient and inappropriate advice and to the differing interpretations of the law.

Reality has demonstrated that this phenomenon of differing interpretations of the same law in various countries is an issue which enterprises with activity abroad have to face quite regularly. The contracting partners are not always familiar with every country’s conventions in trade transactions, and if this element is not taken into consideration, it can lead to greater financial problems. As a consequence, differing law interpretations are a cause of constant conflict in the context of international trade activity.

Intercoms are a series of international regulations concerning external transactions and readings of the most common forms of agreement which are used to limit trade problems. The use of intercoms is optional and demands their contractual agreement for them to be valid. Some of the most commonly used intercoms are: C&F, CIF, FOB.

In the context of international transactions, purchase agreements are regulated by the Contract for the International Sale of Goods (CISG) or international commercial law, or when the regulations of international private law result in the application of the law of a particular state – member of the contract. UN Commercial Law, when applicable, always precedes national law. Germany, Greece, France, Italy, the Netherlands and Spain are all parties to this contract. UN commercial law covers only the form and conclusion of contracts on the international sale of goods or other similar agreements, as well as the rights and obligations that those contracts impose on the parties.

Greek law does not provide a special regulation similar to Germany’s "Handelskauf" (commercial sale of goods). The Greek Commercial Code’s draft (still awaiting enactment) features a provision concerning the usual forms of the commercial sale contract (FOB, CIF etc.). Commercial customs (customary commercial law) also play a fundamental role within Greek law. The use of general terms of contracts is acceptable under Greek law.

For these reasons, a thorough examination of national regulations must always be performed in cases of international trade transactions.