About the Committee
As part of its activities, the International Commerce and Distribution Committee examines legal issues fundamental to the growth and development of international commerce.
The Committee deals extensively with issues relating to international sales contracts, agency and distribution, cross-border acquisitions, warranties and financing of international sales.
In addition to reviewing the current legal position in different countries from a comparative perspective, the committee also examines international and supranational instruments, such as the United Nations Convention on the International Sale of Goods, Incoterms and the Uniform Customs and Practice for Documentary Credits, as well as, for example, relevant instruments of the European Union and Mercosur.
The committee also focuses on law reform in the fields of law within its scope, and since 1997 has monitored and offered suggestions in connection with the proposed Hague Convention on International Jurisdiction and the Effects of Foreign judgments in Civil and Commercial Matters.
US companies will soon face new reporting requirements under the Corporate Transparency Act (CTA). This article looks at the new law which will require entities identified as reporting companies to provide information about their beneficial owners. If reporting companies fail to disclose the necessary information, then they could face both severe civil and criminal penalties.
Released on Aug 26, 2021
To date, the central banks of approximately 65 countries are in some stage of initiating or developing a programme of digitising their central bank currencies. This digitisation has the potential to minimise costs in cross-border transactions, increase financial inclusion and improve the efficiency of monetary policy implementation. This article details the programmes among the world’s major economies.
Released on Jul 21, 2021
Trade wars: EU blocking statutes on US sanctions against Iran, the Advocate General of the European Court of Justice calls for a review of the functioning of the regulation
This article discusses the Advocate General of the Court of Justice of the European Union’s opinion regarding the application of EU blocking statutes, aimed at protecting EU operators from effects of certain laws adopted by third countries.
Released on Jun 24, 2021
This article looks at the recently announced updated restrictions on the ability of persons from the United States to invest in publicly traded securities of certain companies related to China’s defence and surveillance sectors.
Released on Jun 24, 2021
Projects and reports
Best Practices in Supply Chains (2019)
An International Commerce and Distribution Committee Working Group has developed an overview of best practices in supply chains, to be used as both a checklist for identifying and managing risks and as a guideline for remedies to be put in place.
The assessment of the risks involved with global supply chain management and the necessity to strive for compliance with the various laws and moral principles is more urgent today than during any other time in history. Increased stakeholder expectations, heavy fines resulting from non-compliance with environmental regulations, delayed market access due to complex global trade rules and a multitude of overlapping product integrity requirements are all common challenges.
To manage supply chain compliance requirements efficiently and effectively, organisations need the knowledge, access to information, and ability to interpret the impact of existing compliance requirements. They must also now have the capability to scan the horizon for new and rapidly emerging requirements.
Subcommittees and other groups
The International Commerce and Distribution Committee also coordinates the activities of the following subcommittees/working groups.
- Agency and Distribution Subcommittee
- Commodities and Derivatives Subcommittee
- Complex Acquisitions Subcommittee
- Export Controls, Sanctions and Anti-Corruption Subcommittee
- Financial and Tax Aspects of International Sales Subcommittee
- Government Procurement Subcommittee
- International Commerce and Distribution Committee Advisory Board
- International Conventions and Trade Agreements Subcommittee
- Regional Developments Subcommittee
- Supply Chain and Logistics Subcommittee