Transactions as a Basis for the Payment with a Letter Of Credit / საერთაშორისო სავაჭრო გარიგებების სამართლებრივი ბუნება, როგორც დოკუმენტური აკრედიტივის წარმოშობის საფუძველი

Giorgi Amilakhvari

Abstract


In the article there are discussed the meaning of international commercial deals, the history of Georgia’s trade relations with neighbor and other countries, that took place since Bronze Age started from the exchange of goods and followed by opening of the Great Silk Road. There are also discussed issues related to the Legal Regulation of International Trade according to the international law norms and national legislation. Comparative analysis is made between the national legislation and the legislations of USA, Germany and France.

Also, it is very important for parties to make an agreement in order to conduct international trade deals with the Payment by a Letter of Credit that will provide the fulfilment of existing obligations. It should be considered that in many countries the special legislation acts are adopted and enacted regarding the international trade deals, particularly about export and import issues. Acts like those still are not drafted or adopted in Georgia. The main goal of the government should be the regulation of the misbalance between export and import in the international trade relations. Import should fill up the nonexistent goods according to the demands of the population and export should be used for money income in the state. For these reasons a united trade policy should be developed and arrangements should be made in order to coordinare the activities of the state and private bodies.

In order to increase and fulfil the scales of international trade deals it is recommended to fill the gaps in the Georgian legislation by introducing and adopting new legislative acts.


Keywords


Trade; commercial deals; legal regulations;

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