Well-known since its first edition for its lucid explanation of the important concepts affecting international commercial agreements in terms that a lawyer or business executive new to the field can understand and use – rather than the legal jargon of experts talking to other experts – this incomparable one-volume work provides basic, precise information on setting up and performing international trade transactions. Its focus reflects the reality of the day-to-day business of international trade, which is primarily an undertaking between two private businesses based on a contract drafted and negotiated between the two parties for performance by them with occasional third-party assistance.

Reinforcing the book’s concentration on the private dimensions of international trade, and more precisely on the contractual aspects of that trade, the Fourth Edition extends its coverage to the newest growing dimensions of the field, with new chapters on intellectual property, international electronic commerce, and online dispute resolution. The much-appreciated solid basic information on a wide variety of issues that people will encounter in putting together international commercial agreements is of course still here, and includes the following:

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• specific guidance on drafting commercial agreements;
• background material on contract formation, including basic information on contract law;
• differences between international and domestic contracts;
• in-depth exploration of negotiation techniques to help smooth the negotiation process;
• detailed discussion of alternative dispute resolution, including mediation/conciliation as well as arbitration;
• drafting contracts to cover a wide variety of business relationships, such as sale of services, franchises, joint ventures, and licenses;
• regional differences;
• online dispute resolution; and
• emerging new trends in international commercial arrangements.

The reader will find a substantial amount of information and discussion on international electronic commerce both in separate chapters and within chapters on more general topics.

In its recognition that a business executive entering into an international commercial transaction is mainly interested in drafting an agreement that satisfies all of the parties and that will be performed as promised, this superb functional guide for negotiation, drafting and resolving disputes in international commercial agreements will immeasurably assist any lawyer or business executive to plan and carry out individual transactions even when that person is not interested in a full-blown understanding of the entire landscape of international contracts. Business executives who are not lawyers will find that the book gives them the understanding and perspective necessary to work effectively with the legal experts.