Commercial Rules Research Articles

Peaceful settlement of inter-state energy disputes: applicable law, defence arguments, and remedies in the ICC arbitration between Iraq and Turkey

Abstract At this critical juncture in the energy transition dominated by debates over armed conflicts, advisory opinions on climate changes, and investor-State arbitration, it is critical to also consider developments in the peaceful settlement of inter-State energy disputes. One central dispute between the Republic of Iraq and the Republic of Turkey arose out of the Crude Oil Pipeline Agreement for the supply and purchase of crude oil. Iraq filed a request for arbitration in May 2014 under the International Chamber of Commerce Rules of Arbitration. The Tribunal awarded Iraq nearly United States Dollars (USD) 1.5 billion. The Tribunal’s unanimous final award in 2023 discusses fascinating aspects of international energy transactions, including the choice of domestic law in a treaty dispute, defences under the law of treaties, a putative norm of jus cogens to prevent genocide, and possible remedies in an inter-State pipeline arbitration.

A Legal and Compliance Framework on Latest E – Commerce Rules and Regulation for the Protection and Welfare of both the Consumer and Seller with respect to Platforms

A Legal and Compliance Framework on Latest E – Commerce Rules and Regulation for the Protection and Welfare of both the Consumer and Seller with respect to Platforms

Recent Developments of Third Party Joinder in International Arbitration

This article analyses the impact of the Singapore High Court decision CJD v. CJE and another [2021] SGHC 61 on the highly topical issue of third party joinder in international commercial arbitration. In its 2021 decision, the court applied a strict yardstick in view of party autonomy when interpreting consent requirements for joinder under the London Court of International Arbitration Rules 2014. A closer comparative analysis of the procedural rules of leading international arbitration institutions identifies the judgment’s guidance to similarly constructed joinder rules, such as the International Chamber of Commerce Rules 2021. The comparative analysis recognizes a larger growth of caseloads in Asia and results suggest an incrementally developing preference for joinder rules which are constructed in a wide manner. This includes the arbitral tribunal’s power to allow third parties to join already commenced arbitration proceedings based on a prima facie test, alongside express unanimous parties’ consent. International commercial arbitration, multi-party contracts, third party joinder, international arbitration institutions, institutional arbitration rules, dispute resolution, Singapore, private international law, comparative law

‘Bestseller’ is no longer a rude word: negotiating the art/commerce balance by Czech fiction publishers

In this paper, I focus on how major fiction publishers renegotiate the art/commerce balance in the contemporary Czech literary field and I discuss their strategies in terms of conservative and progressive variants of rules of art and rules of commerce. I show that Czech publishers face many similar challenges known from the global literary field: they feel the field is getting faster, tighter, and more money-driven. Their responses still may be specific given the differences in historical development and culture they act within. In these conditions, new aspects of shifting literary rules may emerge. Thus, the paper contributes to the discussion on the shifting and blending rules in literary fields nowadays. The study is based on Bourdieu's theoretical model of the literary field and works with 24 semi-structured interviews with publishing professionals from houses that produce fiction of various types – highbrow, commercial, Czech, and translated – and that are of sizes from small to mid-sized to large. The research was conducted from 2010-16.

RECONSIDERING THE RELATIONSHIP BETWEEN VITORIA AND GROTIUS’S CONTRIBUTIONS TO THE INTERNATIONAL LAW AND NATURAL LAW TRADITIONS

AbstractIn light of recent reevaluations of the work of Hugo Grotius, this essay analyzes the respective roles of Francisco de Vitoria and Grotius in the construction of the “Grotian tradition” of international law and human rights. In contrast to conventional accounts which understand the two within a progression, this essay argues that Vitoria and Grotius can alternatively be understood as representing two distinct strains of international law and ethics, forms of which persist to this day. The first is that strain which privileges local governance based on the natural law and which insists that international law must have a moral or equitable valence (represented today by liberal internationalism). The second, competing strain which, with its focus on “neutral” rules of commerce and international order, presumes that it need not have such a valence (essentially, neoliberalism). In the process, this essay examines the role of the natural law in Vitoria’s thought, which for him was most often a reason against interference or intervention, not for. The essay also highlights the role of the Eighty Years’ War between the Dutch United Provinces and Spain in the development of Grotius’s understanding of sovereignty, in contrast to the Thirty Years’ War which is given more prominence in conventional accounts.

International Chamber of Commerce Rules for Trade Terms - The Terminological Approach

Purpose: The rules of International Commercial Terms (Incoterms) define the important element of the international sales contract, the so-called parity. The parity means the place, where the cost and risks are handed over from the seller to the buyer. In this paper, we would like to answer to following questions: What are the principles of the terminological system of Incoterms editions following each other? What is the difference between the logic of the creators of terminology and its users? How does change the relationship of users and International Chamber of Commerce (ICC) in the mirror of terminological changes? Approach/Methodology/Design: We demonstrate and analyze the modifications of Incoterms rules updated in the last 40 years focusing on the development of theory and practice of trade terminology. Terminological theoretical frame is used in this paper. Findings: The Incoterms were based in the first phase on historical principle, in the second phase on logical principle, in the third phase on functional principle. The creators of terminology must build a structure based on strict logic, eliminating the historical perspective, not making a difference between the original old and the artificially created new ones. The users preferred the old ones, building a structure using them to create a terminological structure. The ICC for a long time intended to force its own system in prescriptive method, but from the 2010 edition, it has concluded a compromise accepting the logic of everyday usage based on tradition in the 2020 edition. Practical Implications: The paper gives a short overview of the rules of international trade from a terminological point of view. Originality/Value: The changes of Incoterms have been investigated from legal, risk management, and logistical points of view but there is still now a gap in the research of Incoterms concerning the terminological perspective. Terminological analysis with its new instruments and view can reveal the principles of building the terminology, can mirror the changes of the power shifting.

Doing business in Islamic countries: an overview

The access of Western companies -in particular the Spanish ones- to countries and markets where strong presence of Islam religion is consistent and significant. The relevance of this business target and model is growing, due to the combination of several factors: the relative higher growth of this religion and the prevalence of the religious practices in the economies and cultures, the more accelerated (on average) economic development despite the specific crisis and oil price turmoil, the international expansion of partnerships and foreign investments that many of these countries are addressing, the consolidation of a synergic “Islamic economy and business practice” usually restrained and limited to similar Islamic countries but nowadays more tolerant to non-Islamic ones, and the progressing opening of these countries and economies to global rules of commerce, intellectual property, business ownership and international operations. There is kind of a global consensus on the positive forecast of these trends, that will make the key direction of development of most of these countries in the next years.

Svenska Petroleum Exploration AB v. Government of the Republic of Lithuania and Another (No 2)

Arbitration — Agreement to arbitration — Arbitration under International Chamber of Commerce rules — Enforcement of judgment — Justiciable within English court — Relevance of national law in interpretation of agreementEvidence before international courts and tribunals — Meaning of agreement with government signature — Reference to previous draft agreements — Joint enterprise including government and legally separate entity — Submission to arbitrateState immunity — Jurisdictional immunity — State Immunity Act 1978 — Submission to jurisdiction under Section 2(1) of Act — Whether transaction commercial under Section 3(1) of Act — Submission to arbitration under Section 9(1) of Act — Immunity from enforcement — The law of England

Implication of International Instruments in ADR Process; an Experience of Nepal

Conciliation, mediation and arbitration are major approaches of Alternative Dispute Resolution (ADR) process. In comparison to arbitration, conciliation and mediation are less binding as the award of arbitration is final if there is no appellate clause. There are different types of arbitration which are domestic and foreign arbitration, Ad-hoc arbitration, institutional arbitration, bi-party and multiparty arbitration etc. UNCITRAL Model Law of Arbitration, 1985, UNCITRAL Arbitration Rules, 1976, International Chambers of Commerce Rules of Arbitration, 1998, International Center for Settlement of Investment Dispute Rules of Procedure for Arbitration Proceeding, 1984, Arbitration Rules of London Court of International Arbitration, 2014, and the Australian Center for International Center for Commercial Arbitration Rules, 2016 are major instruments of international arbitration. Arbitration Act, 1999 (2055 BS) and Arbitration (Court Procedure) Rules, 2002 (2059 BS) are the domestic instruments for arbitration for Nepal. Parties of the agreement can apply any foreign instruments of arbitration as well. Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958, Geneva Protocol on Arbitration Clause, 1923, Geneva Convention on the Execution of Foreign Arbitral Awards, 1927, Inter-Arab Convention on the Enforcement of Judgment and Awards, 1992 and UNCITRAL Model Law, 1985 clearly mentioned about the applicability of foreign arbitral award. Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958 was established as a result of dissatisfaction with the Geneva Protocol on Arbitration Clauses of 1923 and the Geneva Convention on the Execution of Foreign Arbitral Awards of 1927. Under Nepalese legislation, a party should submit an application to the High Court along with the original or certified copy of the arbitrator's award, original or certified copy of the agreement, and official translation in Nepali language including any treaty if so within 90 days of award. If all conditions are fulfilled, High Court forwards the award to the District court for its enforcement if the domestic law permits. Although, there are the greater roles of ADR including arbitration, it is not a panacea to solve the disputes. If effectively applied, it is the best and participatory method of dispute resolution system.

Penerapan Pengembangan Teori Technology Acceptance Model (TAM) dan Motivasi Terhadap Intensi Mahasiswa di Jakarta untuk Menggunakan Tablet

Penelitian ini bertujuan untuk menguji model penelitian yang dibangun berdasarkan teori-teori yang ada, dengan pertimbangan apakah model yang diajukan dapat diterapkan/di implementasikan pada penelitian-penelitian selanjutnya. Jumlah sampel dalam penelitian ini adalah 202 responden. Kemudian Teknik pengambilan sampel yang digunakan adalah teknik purposive sampling dan teknik pengumpulan data dengan skala Likert 6 skor/point. Data di analisis menggunakan exploratory menggunakan SPSS v23 dan confirmatory factors analysis menggunakan Amos v22. Empat dari lima hipotesis yang diajukan diterima dan selebihnya ditolak, H2 ditolak yang berarti menyimpulkan bahwa mahasiswa di Jakarta setelah memiliki persepsi kemudahan yang positif tidak langsung berdampak terhadap sikap yang possitif pula, melainkan mempengaruhi persepsi manfaat terlebih dahulu baru berdampak pada sikap dari pada peggunaan. Dan berikut hasil hipotesis, H1 memiliki nilai critical ratio 5,533 yang berarti hipotesis diterima. H2 ditolak dikarenakan skor critical ratio -,371 berarti <1,96. Selanjutnya, H3 memiliki nilai critical ratio 1,965 yang berarti hipotesis diterima. Kemudian H4 diterima dengan skor critical ratio 2,070 dan H5 diterima dengan skor 2,142 yaitu >1,96.
 
 Kata Kunci : technology acceptance model,persepsi kemudahaan penggunaan, persepsi manfaat, sikap, motivasi, intensi menggunakan, tablet, mahasiswa, Jakarta

Establishment of an International Legal Framework for Cross-Border Electronic Commerce Rules: Dilemmas and Solutions

Cross-border electronic commerce is of great strategic significance to global economic integration. However, different rates of development in electronic commerce, and significant differences in interest rates among nations and regions, make it hard to unify cross-border electronic commerce rules at an international level. This is especially reflected in the opposite propositions of the US and the European Union (EU) on the application of rules for products that include digitally delivered content within the World Trade Organization (WTO). This paper examines the dilemma of cross-border electronic commerce in international law within the framework of the WTO, United Nations Commission on International Trade Law (UNCITRAL) and the Organisation for Economic Co-operation and Development (OECD). After examining the relevant legal systems in the US and the EU, and analysing conflicts of interest in the business rules related to cross-border electronic commerce between the US and the EU, this paper concludes that, in order to promote the development of cross-border electronic commerce, domestic private laws relating to electronic commerce must be improved, and based on an international legal framework designed to increase the predictability and certainty in business activities, which would be achieved by greater international cooperation.

TPP at the End of the Line: A Briefing on Economic Cooperation and Capacity Building

TPP at the End of the Line:A Briefing on Economic Cooperation and Capacity Building Arnie Saiki (bio) The Trans-Pacific Partnership (TPP) is at the end of a supply-chain narrative, constructed long before the cooperation and capacity building of international institutions like the World Trade Organization (WTO), the World Bank, and the International Monetary Fund (IMF). Trade, militarization, and entente have enforced supply chains even before the manufacturing and production demands of industries and corporations nourished the insatiable appetite of consumers. Just as the history of empire is inseparable from military campaigns and entente, the supply-chain narrative begins with the building of civilization, inextricably linked to our hunger over resources, our quest for new routes in transport and trade. Discussions over the benefits and disadvantages of supply chains do not revolve around whether trade and globalization are good things or bad. They just are. It is like the continuity of the day: we awake and we meander, sometimes discussing events that nestle into the world, and the policies designed for bolstering that understanding. How we imagine our place in the global supply chain, wandering through things that have been made manifest by our collective conceit of trade and consumption, informs nearly every facet of our lives. It may be easier to identify what globalization is not, rather than what it is. In doing so, even while musing over our most basic animal functions like eating, shitting, and fucking, we will find our behavior shifting toward becoming a transactional part of the supply chain rather than remaining aligned to the natural evolution of our planet. If we consider trade and commerce as informing the body of civilization, something rooted in the transport of goods, services, and ideas, then for millennia we have been organizing ourselves farther and farther away from the natural world toward the hypercommodification of an economic collective, which is perhaps how globalization ought to be defined. Globalization has even blurred the boundaries of our national identities. What we have left of the nation-state is a specter, and as for discourse, how we [End Page 501] define our nation may now be determined more by the hocus-pocus and image marketing of corporate governance than by what Antonio Gramsci unpacks as the historically organic ideology of our national narrative.1 It is within the twentieth-century postwar American imagination that globalization enters as a new historical narrative. Tacit to the key resolutions of the United Nations Charter, cooperation and capacity building reinforce the rules of commerce and trade and legitimize the rule-making authority of international institutions. Joseph Stiglitz writes, “We cannot go back on globalization; it is here to stay. The issue is how we can make it work. And if it is to work, there have to be global public institutions to help set the rules.”2 What these rules look like and how they are shaped had previously been the agenda of resource-hungry colonizing administrations. But after the breakdown of the nineteenth-century treaty system and the trauma of two world wars, new rules had to be enforced: rules ensuring peace and human rights; regulatory and protective measures over labor, health, and the environment; and the management of public systems embedded in our constitutions, charters, and statues as “general welfare.” These rules and regulations are integral to the deep political and economic ties of cooperation. Historically, after the 1946 ratification of the United Nations, President Harry Truman made the audacious move of reversing the pact of internationalism by promoting economic cooperation with the Marshall Plan. New development infrastructure was promoted alongside a free trade agenda that competed with the Soviet Union, whose influence in the UN General Assembly had been growing as a result of its support for decolonization and the liberation of oppressed peoples from the old administering powers. Union workers, too, particularly members of the international transport unions, used the strike at ports and docks as an enforcement mechanism to promote the rights of workers and the liberation of territories. In 1949, just a year after the Marshall Plan went into effect, the US State Department and Department of Labor, along with the American Federation of Labor, and the...

SELECTED ASPECTS OF FINANCIAL PLANNING AT MINING COMPANIES

Corporate financial planning is a continuous process of detailing methods of achieving financial targets. It constitutes a significant element of the entire planning cycle of a company (Fig. 1). It is considered that the main purpose of company operations is to maximise the market value of its shareholders’ equity [5]. Frequently its basic purpose is defined as its survival, which requires maintaining liquidity. Corporate financial planning is necessary because the company aims to maximise value and remain liquid. The main objectives of company operations, which include maintaining liquidity and raising value are financial in nature, so the degree of their achievement can be assessed using financial measures. Financial planning constitutes an indispensable tool for achieving priority objectives of the operation of any economic entity [7]. The introduction of new, completely different rules of commerce in the 1990s forced the mining sector to make radical changes, also in its organisation and management sphere. The current structure of the hard coal mining industry is clearly dominated by multi-facility mining enterprises. The largest is Kompania Weglowa SA comprising 16 mines, followed by Jastrzebska Spolka Weglowa SA (6 mines) and Katowicki Holding Weglowy SA (4 mines and 1 subsidiary mine — KWK (Hard Coal Mine) „Kazimierz Juliusz”) and other important players: Lubelski Wegiel Bogdanka SA as well as Poludniowy Koncern Weglowy SA [1].

Public policy challenges and implications of the Internet and the emerging e-commerce for sub-Saharan Africa: A business perspective

As businesses move to establish closer links with their customers and suppliers in the global marketplace, a new set of requirements is being placed on businesses in sub-Saharan Africa. The rules of commerce are being turned upside down, and for sub-Saharan African businesses to compete, local governments would have to create an enabling Internet and information infrastructure. This paper examines the Internet environment in sub-Saharan Africa and explores what the Internet can do for businesses. It investigates the public policy challenges and implications of the Internet and the emerging e-commerce for sub-Saharan Africa. The paper ends with a discussion and conclusion.

Making markets: how firms can design and profit from online auctions and exchanges

Markets are transitioning from place to space—but as the collapse of the initial B2B boom demonstrated, the journey won't be easy. Pioneering market makers from eBay and British Petroleum to the Dutch Flower Auctions and ChemConnect are leading the way to create new value through markets. Their experiences make two things increasingly clear: Success in the marketspace will require new ways of operating, and participation won't be optional. Ajit Kambil and Eric van Heck—respected authorities on electronic markets—argue that online auctions and exchanges will soon be an essential part of business practice. They explain why companies must adopt electronic markets now if they hope to compete in the future. And they prove that success lies not in achieving first-mover advantage in new markets, but in creating winning strategies to design and use markets to manage the supply chain, connect with customers, increase efficiency, and make decisions. Based on the authors' decade-long study of nearly one hundred successful and failed electronic markets in the United States, Europe, and Asia, the book reveals how market makers are rewriting the rules of commerce. They offer a strategic blueprint for designing, implementing, and profiting from electronic markets.

Information Technology and the Law

This paper explores fundamental doctrines of law which increasingly constitute the rules of commerce in deploying the National Information Infrastructure (NII). Particular attention is given to efforts made within the U.S. government to ensure that an appropriate regime of intellectual property law is in place in promoting U.S. leadership in the information-based marketplace. The direct relationship between U.S. copyright law and the networked dissemination of software, audio, graphical and textual works is consequently explored. Also described is the effect of developments in information technology upon the frequently opposing interests of freedom of speech, right to privacy, and governmental regulation.

Financial guarantees

Financial guarantees are issued in order to ensure the availability of funds, in the event that a party, inviting a tender or awarding a contract, has a legitimate claim against the tenderer for the contract. This paper looks at the types of guarantee, their source and the principles embobied in the International Chamber of Commerce rules. Risk and cost involved with guarantees are also discussed.

Ipitrade International, S.A. v. Federal Republic of Nigeria

Sovereign immunity — Foreign States — Waiver of immunity under Foreign Sovereign Immunities Act 1976 — Whether agreement to adjudicate all disputes arising under a contract in accordance with Swiss law and by arbitration under International Chamber of Commerce Rules constituted waiver of immunity under the Act — The law of the United States