International trade customs as a source of regulation of foreign economic activity
Journal Title: Правова позиція - Year 2017, Vol 2, Issue
Abstract
The article examines the place and significance of commercial customs as a source of foreign economic relations regulation in the general sources of law structure. Some trade customs, advantages and disadvantages of their usage by foreign economic entities are briefly described. The author comments the content of the usage of such commercial customs as Incoterms rules, Uniform customs and practice for documentary credits, Uniform rules for collection. Legal custom always accompanies the development and formation of law. It is the basis for the formation of the final form adopted by the legal system after its long-term development. The manifestation of legal traditions at the level of international communication over time does not decrease. On the contrary, expansion of the spheres of international legal relations only strengthens the position of the international custom. It is discovered, that legal custom should be considered as the “filler of gaps”, “interpreter” of written forms of law at the domestic and international levels of international trade regulation. Trade custom manifests itself relevance both for foreign economic relations in particular, and for the legal system as a whole. The author highlights the importance of foreign-owned companies’ awareness of the details of the commercial law customs, since the procedure described in them directly affects the distribution of rights and obligations between the parties of the contract. The perspective directions of scientific studying of the sphere of customary law in trade practice are outlined. It should be examined the possibilities of approbation in the national legislation of latest trends in the practice of applying customary law by the international community.
Authors and Affiliations
А. О. Мінченко
Keywords
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