International Trade Law

International trade law is a multidisciplinary field. This very complex and expanding area studies private law relations in the frame of international trade and international economic cooperation. The legal relations covered by this subject are established between professionals (traders) and meet the „internationality” criterion.
The course topics are divided in two main parts. The first part covers Romanian trade policy features regarding international trade relations and, in particular, the legal regime of foreign investments and the legal status of imports and exports. Then, this course examines in turn: a) sources of international trade law, including international commercial usages; b) legal entities that trade internationally – in this context being analysed legal entities of Romanian nationality, foreign companies which operate in Romania, Romanian companies that enter foreign markets, European companies, European cooperative companies, etc; c) general theory of international commercial contracts (main issues regarding the conclusion, content, interpretation, effects and proof of these particular contracts).

The second part analyses in depth the main international commercial contracts and certain related legal institutions, such as: the international sale of goods contract, according to the Vienna Convention (1980), the limitation period in the international sale of goods, pursuant to the New York Convention (1974), uniform usages and standardized practices which may apply in international sales of goods – INCOTERMS 2010, counter operations in international trade, intermediation contracts in international trade, contracts for the international carriage of goods, etc., and international commercial arbitration.

During the lectures and seminars, the theoretical analysis of domestic and international regulations of interest is doubled by examples found in jurisprudence (solutions given by domestic courts and courts of arbitration).

These topics are of interest not only for Law students (both in a Bachelor programme or a MSc), but also for Economics students and Law practitioners.

Studying international trade law regulations is very important because they are often encountered in practice. The interdependence of the world economies due to the acceleration of the globalization process, coupled with an intensification of economic integration at the regional levels (e.g. the European Union), while enhancing and diversifying trade relations and international economic cooperation are the main factors which directly influence the development of this area of law.

Therefore, knowledge of regulations, concepts and jurisprudence regarding the international trade law is necessary because this subject helps students and practitioners in the field of private law to remain anchored in the current commercial realities and to develop their abilities of legal thinking.