International Law

Legal opinion on the issue of the prospects of collecting payment for the goods in the ICAC at the RF CCI

By 12.11.2018 No Comments

The experts of the Law Firm “Legal Studio” LLC were approached by a Russian company – a manufacturer of equipment, in the interests of the Chinese partner, with a request for a legal opinion on the prospects for collecting payment for the goods in the ICAC at the RF CCI. The goods were shipped in full by the seller to the buyer, as evidenced by the bill of lading, invoice and packing list. Payment for the item was not received. Experts of the Law Firm “Legal Studio” LLC revealed that by virtue of Art. 53 of the Vienna Convention, as it stood the buyer was obliged to pay the price for the goods and take delivery of the goods in accordance with the requirements of the contract and the Convention. However, clause 3 of the Annex to the Contract establishes a settlement through collection. This form is governed by the Uniform Rules for Collection (Publication of the International Chamber of Commerce N 522). With this form of settlement, all documents sent for collection must be accompanied by a collection instruction indicating that the collection is subject to URC 522, and contain complete and accurate instructions. As a result, specialists of the Law Firm” Legal Studio” LLC managed to develop a legal position for the pre-trial settlement of the dispute. Project cost was more than 305 000 US dollars.