The convention on the use of electronic communications in international contracts : creating an international legal framework for electronic contracting

Coetzee, Juana (2006-01)

CITATION: Coetzee, J. 2006. The convention on the use of electronic communications in international contracts : creating an international legal framework for electronic contracting. SA Mercantile Law Journal 18(3):245-258.

The original publication is available at https://journals.co.za/content/journal/jlc_samlj

Article

Although international trade can contribute to the economic growth and development of a country, the remoteness of trading parties remains a factor that infl uences the effi ciency of such transactions. Not only are the goods to be transported over huge distances, something that creates the potential for damage and loss during transit, but in many instances trading partners have no personal or previous knowledge of each other. International sales contracts are often concluded by brokers and other intermediaries on behalf of the actual parties involved. These aspects may increase the financial risk that is normally associated with the transaction. Although fi nancial risks are to a large extent addressed by exchanging documents, these documents have to be sent around the world to various interested parties, such as banks, customs offi cials and freight forwarders. Such an exercise may cause many a delay in the execution of the transaction. In the context of international trade, time means money, and it is therefore essential that a commercial transaction is negotiated, concluded and executed in the shortest time possible for the transaction to be efficient. Using electronic forms of communication may offer an effective solution to the problem.

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