Research On The Risk Transfer Of International Sales Of Goods

Modern international trade has always been dealt with transnational. Due to its complicated delivery process, cargoes transported by air, sea and road inevitably process, such as stolen, fire, sinking, crush and leakage and abnormally rotten and deteriorated. These involve bilateral interest, and these arouse great concern with both parties on how to divide and bear these risks caused by loss. The legal system of passing of risk shows the exact time and place for the risks passing from a seller to a buyer under a particular transaction condition, which makes us be able to decide which party shall assume the responsibility for the risk losses by establishing the reason and nature of the goods losses. The principle becomes one of the most important things reflected in business contracts, especially in transnational business.The article is preparing to introduce something about the concept, meanings and characteristics of risk, to study relative theories and certain rules and to analyze some case about risk-transfer under the international trade customs. And then, I will make a comparison among correlative provision of United Nations Convention on Contracts for the International Sale of Goods (CISG), Uniform Commercial Code (UCC) and Contract Law of PRC. Beside, I want to discuss some contents and applied conditions of various principle of risk bearing and the impact of risk-transfer caused by breaching of contract. Finally, I wish to point out the defect existed in Contract Law about risk-transfer practically and theoretically and find out something available appeared in CISG, UCC and Contract Law of PRC, give several suggestions on improving contract law of risk transferring.