Description
An international business transaction requires a precise and detailed underlying contract. However, it can be expensive and time-consuming to draft such a contract. With the ICC Model Contract International Sale, the International Chamber of Commerce (ICC) 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 and general conditions. The specific conditions allow the parties to use the model directly by filling in the blanks, while the general conditions provide a platform of standard legal terms, serving as a reference tool for contract drafting or negotiation. These general conditions may be used together with the specific conditions, or independently.
The model contract is specifically adapted for transactions governed by the UN Convention for the International Sale of Goods which applies to an increasingly large volume of international sales.
Each ICC Model Contract includes a fully editable version in Microsoft Word, permitting you to easily adapt the contract to your specific case.
