Question 1
International trade is often described simply as the buying and selling of goods and services across national borders. Nonetheless, there are numerous legal and other complexities involved in international trade, although the benefits of political, economic, socio-cultural and other benefits have often been espoused.
(a) Demonstrate one (1) key legal issue that may arise from international trade. Show how international organizations such as the United Nations Commission on International Trade (UNCITRAL) have sought to seek to address this issue. In your analysis, you should provide supporting reasons, data, and real-life examples and cite international conventions (and their provisions), where relevant.
b) Discuss one (1) of the challenges faced by UNCITRAL in their endeavors to address the key issue which you have identified in sub-Question (a) above. Using the United Nations Convention on Contracts for the International Sale of Goods (CISG) as an example, explain whether UNCITRAL has been successful in addressing such challenges. In your analysis, you should provide supporting reasons, data and real-life examples, where relevant, to support your views.
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Question 2
International law regarding this area has continued to evolve to adapt to the use of technology, including electronic communications, in international trade. Based on recent research, blockchain technology demonstrates significant potential in enhancing the efficiencies of international trade.
In addition, the use of such technology for smart contracts is amongst one of the key applications be rolled out within different industries. Nonetheless, there are questions regarding the validity and formation of such contracts in the context of the international sale of goods.
Select a real-life organization that has leveraged on blockchain technology in its international trade activities. Briefly describe the organization’s business and explain how it uses blockchain technology to improve the efficiency and effectiveness of its international trade activities. Examine one (1) legal challenge which it may face in its use of blockchain technology.
