International Trade & Business Law & Policy

International Trade and Business: Law, Policy and Ethics
CAPITAL AND PAYMENTS 710
MONETARY POLICY 710
EXCHANGE RATE POLICY 711
COMMUNITY LEGISLATION 711
Article 189 of the EC Treaty 711
Regulations 711
Directives 712
Decisions 713
Recommendations and opinions 714
Difference of nomenclature: EC and ECSC treaties 714
Freedom of movement of goods 714
Treaty provisions for the elimination of internal customs duties 715
Common customs tariff 716
Free circulation of goods in the Community 716
Elimination of customs duties and establishment
of the common customs tariff 716
Article 30 of the EC Treaty 717
Article 115 of the EC Treaty 718
The rule of reason 719
Rule of reason not an extension of Article 36 720
The necessity and proportionality principles 721
Application of the necessity principle 722
The proposition of the rule of reason 723
Harmonisation 723
Mutual acceptance of goods 724
Technical harmonisation and standards 724
Directive on product safety 725
APPENDIX—THE EC’S TREATY STRUCTURE 726
TUTORIAL QUESTIONS 726
FURTHER READING 728
11 INTERNATIONAL COMMERCIAL ARBITRATION 729
ARBITRATION AND INTERNATIONAL TRADE 729
TYPES OF ARBITRATION 730
Arbitration 731
Commercial arbitration 731
International commercial arbitration 732
THE STATUTORY FRAMEWORK OF
INTERNATIONAL COMMERCIAL
xviii