Understanding Incoterms and Their Impact on International Trade
What Are Incoterms? Published by the International Chamber of Commerce (ICC), Incoterms define the responsibilities of buyers and sellers in international trade, including:
- Who bears costs
- Who bears risks
- Handling of documents
What Do Incoterms Not Cover? They do not represent a sales contract between a buyer and a supplier. For example, they do not cover pricing details, exact payment details, or details of quality.
Most Common Terms of Incoterms:
- EXW: Buyer takes full responsibility
- DDP: Seller takes
Indian Corporate and Consumer Law: Key Concepts and Regulatory Bodies
Company Law: Formation and Securities
Company Formation: The Registration Procedure
Meaning: Registration is the legal process by which a company is formally created and recognized as a separate legal entity under the Companies Act. It ensures that the company can legally enter into contracts, own property, and conduct business in its own name.
Introduction: A company cannot exist legally until it is registered with the Registrar of Companies (ROC). Registration provides the company with a distinct
The International Court of Justice (ICJ): Structure, Jurisdiction, and Procedure
The International Court of Justice (ICJ)
Judicial Settlement involves the reference of disputes to permanent tribunals for a legally binding solution. The International Court of Justice (ICJ), often referred to as the World Court, is a court with general jurisdiction.
As one of the six main organs of the United Nations and its principal judicial organ, the ICJ has guaranteed impartial adjudication, free of political pressure or economic bargaining, since 1945.
The Court operates in French and English
Read MorePakistan Parliament: National Assembly Structure and Powers
Pakistan Parliament Structure
The Parliament is an authoritative institution and a symbol of the people’s sovereignty. In Pakistan, the Parliament, known as “the Majlis-e-Shoora,” consists of the President and two houses: the National Assembly and the Senate. The National Assembly is the lower house and is the more powerful institution in law-making and financial matters, generally holding more power than the Senate.
Relevant Constitutional Provisions
Key articles related to the Parliament include:
Read MoreFundamental Principles Governing Criminal Procedure Law
CONTINUATION OF ITEM 3
Principles of Criminal Proceedings
A criminal proceeding is a set of acts that seek to clarify specific facts. The principles of the process define the subject matter of the proceeding and, if applicable by the parties, govern the behavior of the subjects involved. There are fundamental principles governing parallel proceedings, such as the form of acts or the relationship between the parties and the court. These principles are based on technical or practical criteria.
Pretrial
Read MoreAustralian Business Entities: Structure, Liability, and Registration
Business Organisations and Legal Structures
Agency in Business Organisations
- Partnerships and companies contract through agents.
- Partners can be agents of the partnership; directors are agents of the company.
- In most cases, agents will have actual authority.
- If no actual authority exists, ostensible authority may apply.
Types of Business Structures
Associations (Not-for-Profit)
These organisations are not for profit, but for members.
Types of Associations:
- Unincorporated Association (More than 2 members)