How to use a Model Contract?

The Incoterms® rules have become an essential part of the daily language of trade. They have been incorporated in contracts for the sale of goods worldwide and provide rules and guidance to importers, exporters, lawyers, transporters, insurers and students of international trade.
Post Reply
User avatar
admin
Site Admin
Posts: 14
Joined: Thu May 03, 2018 4:41 pm

How to use a Model Contract?

Post by admin » Thu May 10, 2018 4:50 pm

As is
One way to use the model contract is to use it "as is". The trader simply fills in the spaces provided for specifying the contract details: buyer/seller, description of goods, price, payment method, delivery and dispute resolution (among others).

As reference
Another option is to use the model contract as a source of inspiration or reference document when drafting the firm's standard forms or general conditions.

As a negotiating tool
Yet another option is to use the model contract as a negotiating tool.
When one party presents a clause that is difficult or objectionable to the other, reference to the more balanced approach in the model contract may help the parties to reach a compromise.
Post Reply