Application Of International Law Essay

1166 words - 5 pages

Application of International Law
By
Dawn M. Engel
Argosy University
Business Law and Corporate Ethics
Dan Adams
May 28, 2014

In the United States, Calvin Coolidge signed the Federal Arbitration Act (FAA) into law in 1925, to be effective on January 1, 1926. (Wikipedia, 2014). “International commercial arbitration in Russia is governed by another statute: Law No. 5338-1 . . . It follows the UNCITRAL Model Law almost verbatim.” (Nikiforov, 2013). Both were “enacted to establish validity and enforcement of arbitration agreements”. (James, 2011). An arbitration agreement is then written to solve disputes later on. An arbitration agreement should include what law will govern the ...view middle of the document...

Find out if the courts will actually enforce the arbitration agreement. Make sure there are no multi-tier clauses (clauses that require negotiation before an arbitration can commence). Sometimes first-tier clause settlements require more time than the maximum period allowed for mediation. Make sure the arbitration agreement is not unilateral, as they can sometimes be found void. “In 2011, an LCIA award based on a unilateral arbitration clause was refused recognition and enforcement in Russia.” (Nikiforov, 2013) In the future, take advantage of Russian Law #5338-1, Part III, Article 11 and appoint at least one of the arbitrators. (The Russian Arbitration Association, 1993).
When dealing with foreign countries in the future, make sure you are familiar with the four dimensions of international business. First, the political dimension, you should know the type of government they have, whether it is free, partly free or totalitarian. If dealing with a totalitarian government, you might reap huge profits, but you also lose most of the control running the business. If the business does help the country retain stability, you could also lose everything from the business itself to consumer trust. Second, the economic dimension, you should examine a nation’s economics, such as its rate of economic growth, inflation, budget, and trade balance. When McDonald’s decided to do business internationally, they found that it could perform well in cities that had potentially high growth rates, not just places that already had high growth rates, they also found they had to increase expenses in distribution to fix transportation problems. Third is the cultural dimension, a failure to understand a different culture can lead to big mistakes. (Kubasek, Brennan, & Browne, 2009) An example of this is when Walmart tried to open stores in Germany. As Walmart’s success is built on “streamlined distribution channels, high-volumes sales and low prices”, it did not fit well with German consumers, who tend to believe in “small and medium-sized retailers that know the ins and outs of the country's restricted business hours, intricate labor laws and multi-layered distribution systems.” As Germans are less price sensitive than North Americans are, they might also question the quality of items with discounted prices. (Gallant, 2012). Last is the legal dimension, when doing business with a foreign country, one should learn what legal system they are using. “The major families of law are common law, which relies primarily on case law and precedent; civil law, which relies primarily on codes and statutory law; Islamic law, which relies on the Shari’a, a religious code of rules;...

Other Essays Like Application of International Law

Legal Work Prelim Term 1 (Not Complete)

978 words - 4 pages use discussion between parties to resolve the dispute * Mediation is the key to dispute resolution * There are two major types of wrong: Public and private. * * International Law * * State sovereignty and domestic law * * There are 4 key criteria for recognizing a new county Define physical territory Permanent population Government that exercises control over physical (Effective Government) Capacity

Bus 378 International Commercial Law and International Business Transactions

2903 words - 12 pages International Commercial Law and International Business Transactions Bristan Keller BUS 378 International Business Law Ashford University Instructor Jumper May 5, 2014 International Commercial Law and International Business Transactions In recent years, various conflicts of law have been identified regarding commercial law and international business transactions. In most cases, there are procedures to follow when a conflict of law

Absar Spd

1015 words - 5 pages Dhaka International Trade Fair-2015 (January 01 to 31, 2015) www.ditf-epb.gov.bd Application for Space of Premier Stall in DITF-2015 1. Name of The Firm/Company (As Per Trade Lience): ..................................................................................... 2. Address

Foreign Inveatment

733 words - 3 pages preliminarily examine the contracts. The problems with defining of applicable law arise when these contracts don’t include the provision of applicable law and one of the parties is a foreign state. “Puis International” v.”GMK Kazakhstan” Open Joint Stock Company is one of such cases in Kazakhstan’s practice with the choice of law cases. Puis International, a plaintiff is a company organized under Israel law and GMK Kazakhstan, a defendant is a

‘International Law Is Not Imposed on States – There Is No International Legislature.’ (Wallace, R.M. (2005) International Law, 5th Ed, Sweet & Maxwell)

2388 words - 10 pages i. ‘International Law is not imposed on States – there is no international legislature.’ (Wallace, R.M. (2005) International Law, 5th ed, Sweet & Maxwell) When looking at this statement it is important for one to consider the concept of International Law and how this idea differs from the domestic legal order. Ascertaining the law on any given point within the domestic legal system is not usually a difficult process. In the US, for example

Counter Terrorism and Human Rigfts

3742 words - 15 pages offences by a group of persons acting with a common purpose. While Member States have agreed on many provisions of the draft comprehensive convention, diverging views on whether or not national liberation movements should be excluded from its scope of application have impeded consensus on the adoption of the full text. Negotiations continue. Many States define terrorism in national law in ways that draw to differing degrees on these elements. Specific

Should a Nation's Foreign Policy Be Inspired by Hobbes or Kant or Neither?

5119 words - 21 pages shaping foreign policy in international relations. Indeed, the aftermath of September 11 has been utilised as a basis for reshaping the dimensions to the “legitimate” use of force under international law, with the legal definitions of self defence being extended de facto to cover pre-emptive strikes (Dixon and McCorquodale, 2003). The most significant issues are the undermining of the legal validity of the right to self-defence under

Prevention Principle

1129 words - 5 pages PREVENTIVE PRINCIPLE 1. Prevention in a nutshell What is the principle of preventive approach? This principle requires the states to prevent damage to the environment and to reduce, limit or control activities which might cause or risk such damage (“Sand, Principles of International Environmental Law”) Preventative logic, which may be captured in the common-sense adagio that prevention is better than cure, has been a pervasive feature of

Accounting Research

934 words - 4 pages specific characteristics of Vietnam’s state budget and financial system. Therefore, the application of international public sector accounting standards in Vietnam in current conditions is derived from requirements of objective reality. The differences between public sector accounting in Vietnam and International Accounting Standards: * Subjects of application. Accounting in the state of Vietnam (hereinafter referred to as the state

Global Crime Analysis

1253 words - 6 pages on criminal activity within the United States, whereas government intelligence agencies concentrate on the diplomacies and capabilities of foreign governments. As the increase in criminal activity has gone global, and as more the United States criminal statutes have been given extraterritorial application, law enforcement agencies have become increasingly interested in information about criminal activities outside the United States (The Global

Business Law Ch 1 Solutions 12e

2172 words - 9 pages changed some rules of common law previously in effect. 1-2A. Question with Sample Answer: Schools of jurisprudential thought At the time of the Nuremberg trials, “crimes against humanity” were new international crimes. The laws criminalized such acts as murder, extermination, enslavement, deportation, and other inhumane acts committed against any civilian population. These international laws derived their legitimacy from “natural law.” Natural

Related Papers

Sources Of International Trade Law Essay

1944 words - 8 pages binding characters. This paper attempts to demonstrate that there are more than one alternative of rules applying to international trade transactions that bind parties of international commercial transactions. The first alternative is the application of parts of the municipal contract law for governing international trade transactions where there is the absence of a separate body of rules. According to Berman[1], the

International Humanitarian Law And Protection Of Women

1894 words - 8 pages International Humanitarian Law and Protection of Women (Dr. Rakesh Kumar Singh As members of the civilian population, women and girls are subjected to innumerable acts of violence during situations of armed conflict. They often suffer the direct or indirect effects of the fighting, enduring indiscriminate bombing and attacks as well as lack of food and other essentials needed for a healthy survival. The conflict in Bosnia and Herzegovina

Application Of Law Essay

2233 words - 9 pages I worked with a baked products manufacturer few years ago as a trainee in order to fulfill the requirement of Industrial Training for my Bachelor’s Degree. This manufacturing company, company X, is one of the most well known bread manufacturer in Malaysia, and the products has been a part of Malaysian morning routine for years. As the company is supplying and exporting its product locally and outside Malaysia, the quality of the product is the

Law 421 Final Exam Essay

661 words - 3 pages ideologies of the law world. The questions are strategically framed to bring out the major theme of the topic. For example, the role rendered by the hearing officer is an extremely minute, but essential concept that should be primarily known to the students of law. In addition, the LAW 421 Final Exam is beneficial for the students to learn the application of the numerous laws that are framed by the constitution with the help of sufficient