ࡱ> Q > ? @ A B C D E F G H I J K L M N O P (\& & J [d Phttp://www.nordicfreight.org/nsabeng.pdfd Phttp://www.nordicfreight.org/nsabeng.pdfd Phttp://www.nordicfreight.org/nsabeng.pdfd Phttp://www.nordicfreight.org/nsabeng.pdfN:http://www.cisg.law.pace.edu/  @,http://www.ncmahq.org/T@http://www.preventivelawyer.org/  8s $266,25,Lysbilde 258t $267,62,Lysbilde 628 $322,65,Lysbilde 658 $278,63,Lysbilde 638 $289,61,Lysbilde 618 $288,60,Lysbilde 608 $287,27,Lysbilde 278 $355,12,Lysbilde 128 $256,18,Lysbilde 188 $290,20,Lysbilde 208 $264,21,Lysbilde 218 $274,11,Lysbilde 114  284,9,Lysbilde 94  284,9,Lysbilde 98 $274,11,Lysbilde 118 $266,25,Lysbilde 258 $267,62,Lysbilde 628 $264,21,Lysbilde 214  284,9,Lysbilde 98 $274,11,Lysbilde 118 $266,25,Lysbilde 258 $267,62,Lysbilde 628 $264,21,Lysbilde 218 $322,65,Lysbilde 658 $278,63,Lysbilde 638 $289,61,Lysbilde 618 $288,60,Lysbilde 608 $287,27,Lysbilde 278 $290,20,Lysbilde 208 $256,18,Lysbilde 188 $355,12,Lysbilde 124! 284,9,Lysbilde 98!$274,11,Lysbilde 118 !$266,25,Lysbilde 258 !$267,62,Lysbilde 628 !$264,21,Lysbilde 218!$322,65,Lysbilde 658!$278,63,Lysbilde 634%! 284,9,Lysbilde 98&!$274,11,Lysbilde 118)!$266,25,Lysbilde 258*!$267,62,Lysbilde 628+!$264,21,Lysbilde 218,!$322,65,Lysbilde 658-!$278,63,Lysbilde 634C! 284,9,Lysbilde 98D!$274,11,Lysbilde 118G!$266,25,Lysbilde 258H!$267,62,Lysbilde 628I!$264,21,Lysbilde 218J!$322,65,Lysbilde 658K!$278,63,Lysbilde 634a! 284,9,Lysbilde 98b!$274,11,Lysbilde 118e!$266,25,Lysbilde 258f!$267,62,Lysbilde 628g!$264,21,Lysbilde 218j!$289,61,Lysbilde 618k!$288,60,Lysbilde 608l!$287,27,Lysbilde 278m!$290,20,Lysbilde 208n!$256,18,Lysbilde 188o!$355,12,Lysbilde 124! 284,9,Lysbilde 98!$274,11,Lysbilde 118!$266,25,Lysbilde 258!$267,62,Lysbilde 628!$264,21,Lysbilde 218!$289,61,Lysbilde 618!$288,60,Lysbilde 608!$287,27,Lysbilde 274! 284,9,Lysbilde 98!$274,11,Lysbilde 118!$266,25,Lysbilde 258!$267,62,Lysbilde 628!$264,21,Lysbilde 218!$289,61,Lysbilde 618!$288,60,Lysbilde 608!$287,27,Lysbilde 274! 284,9,Lysbilde 98!$274,11,Lysbilde 118!$266,25,Lysbilde 258!$267,62,Lysbilde 628!$264,21,Lysbilde 218!$289,61,Lysbilde 618!$288,60,Lysbilde 608!$287,27,Lysbilde 274! 284,9,Lysbilde 98!$274,11,Lysbilde 118!$266,25,Lysbilde 258!$267,62,Lysbilde 628!$264,21,Lysbilde 218!$289,61,Lysbilde 618!$288,60,Lysbilde 608!$287,27,Lysbilde 274! 284,9,Lysbilde 98!$274,11,Lysbilde 118!$266,25,Lysbilde 258!$267,62,Lysbilde 628!$264,21,Lysbilde 218"$289,61,Lysbilde 618"$288,60,Lysbilde 608"$287,27,Lysbilde 274" 284,9,Lysbilde 98"$274,11,Lysbilde 118"$266,25,Lysbilde 258"$267,62,Lysbilde 628"$264,21,Lysbilde 218"$289,61,Lysbilde 618"$288,60,Lysbilde 608 "$287,27,Lysbilde 2743" 284,9,Lysbilde 984"$274,11,Lysbilde 1187"$266,25,Lysbilde 2588"$267,62,Lysbilde 6289"$264,21,Lysbilde 218<"$289,61,Lysbilde 618="$288,60,Lysbilde 608>"$287,27,Lysbilde 274Q" 284,9,Lysbilde 98R"$274,11,Lysbilde 118U"$266,25,Lysbilde 258V"$267,62,Lysbilde 628W"$264,21,Lysbilde 218Z"$289,61,Lysbilde 618["$288,60,Lysbilde 608\"$287,27,Lysbilde 274o" 284,9,Lysbilde 98p"$274,11,Lysbilde 118s"$266,25,Lysbilde 258t"$267,62,Lysbilde 628u"$264,21,Lysbilde 218x"$289,61,Lysbilde 618y"$288,60,Lysbilde 608z"$287,27,Lysbilde 274" 284,9,Lysbilde 98"$274,11,Lysbilde 118"$266,25,Lysbilde 258"$267,62,Lysbilde 628"$264,21,Lysbilde 218"$289,61,Lysbilde 618"$288,60,Lysbilde 608"$287,27,Lysbilde 274" 284,9,Lysbilde 98"$274,11,Lysbilde 118"$266,25,Lysbilde 258"$267,62,Lysbilde 628"$264,21,Lysbilde 218"$289,61,Lysbilde 618"$288,60,Lysbilde 608"$287,27,Lysbilde 274" 284,9,Lysbilde 98"$274,11,Lysbilde 118"$266,25,Lysbilde 258"$267,62,Lysbilde 628"$264,21,Lysbilde 218"$289,61,Lysbilde 618"$288,60,Lysbilde 608"$287,27,Lysbilde 274" 284,9,Lysbilde 98"$274,11,Lysbilde 118"$266,25,Lysbilde 258"$267,62,Lysbilde 628"$264,21,Lysbilde 218"$289,61,Lysbilde 618"$288,60,Lysbilde 608"$287,27,Lysbilde 274# 284,9,Lysbilde 98#$274,11,Lysbilde 118 #$266,25,Lysbilde 258 #$267,62,Lysbilde 628 #$264,21,Lysbilde 218#$289,61,Lysbilde 618#$288,60,Lysbilde 608#$287,27,Lysbilde 274## 284,9,Lysbilde 98$#$274,11,Lysbilde 118'#$266,25,Lysbilde 258(#$267,62,Lysbilde 628)#$264,21,Lysbilde 218,#$289,61,Lysbilde 618-#$288,60,Lysbilde 608.#$287,27,Lysbilde 274A# 284,9,Lysbilde 98B#$274,11,Lysbilde 118E#$266,25,Lysbilde 258F#$267,62,Lysbilde 628G#$264,21,Lysbilde 218J#$289,61,Lysbilde 618K#$288,60,Lysbilde 608L#$287,27,Lysbilde 274_# 284,9,Lysbilde 98`#$274,11,Lysbilde 118c#$266,25,Lysbilde 258d#$267,62,Lysbilde 628e#$264,21,Lysbilde 218h#$289,61,Lysbilde 618i#$288,60,Lysbilde 608j#$287,27,Lysbilde 274}# 284,9,Lysbilde 98~#$274,11,Lysbilde 118#$266,25,Lysbilde 258#$267,62,Lysbilde 628#$264,21,Lysbilde 218#$289,61,Lysbilde 618#$288,60,Lysbilde 608#$287,27,Lysbilde 274# 284,9,Lysbilde 98#$274,11,Lysbilde 118#$266,25,Lysbilde 258#$267,62,Lysbilde 628#$264,21,Lysbilde 218#$289,61,Lysbilde 618#$288,60,Lysbilde 608#$287,27,Lysbilde 274# 284,9,Lysbilde 98#$274,11,Lysbilde 118#$266,25,Lysbilde 258#$267,62,Lysbilde 628#$264,21,Lysbilde 218#$289,61,Lysbilde 618#$288,60,Lysbilde 608#$287,27,Lysbilde 274# 284,9,Lysbilde 98#$274,11,Lysbilde 118#$266,25,Lysbilde 258#$267,62,Lysbilde 628#$264,21,Lysbilde 218#$289,61,Lysbilde 618#$288,60,Lysbilde 608#$287,27,Lysbilde 274# 284,9,Lysbilde 98#$274,11,Lysbilde 118#$266,25,Lysbilde 258#$267,62,Lysbilde 628#$264,21,Lysbilde 218#$289,61,Lysbilde 618#$288,60,Lysbilde 608$$287,27,Lysbilde 274$ 284,9,Lysbilde 98$$274,11,Lysbilde 118$$266,25,Lysbilde 258$$267,62,Lysbilde 628$$264,21,Lysbilde 218$$289,61,Lysbilde 618$$288,60,Lysbilde 608$$287,27,Lysbilde 2741$ 284,9,Lysbilde 982$$274,11,Lysbilde 1185$$266,25,Lysbilde 2586$$267,62,Lysbilde 6287$$264,21,Lysbilde 218:$$289,61,Lysbilde 618;$$288,60,Lysbilde 608<$$287,27,Lysbilde 274O$ 284,9,Lysbilde 98P$$274,11,Lysbilde 118S$$266,25,Lysbilde 258T$$267,62,Lysbilde 628U$$264,21,Lysbilde 218X$$289,61,Lysbilde 618Y$$288,60,Lysbilde 608Z$$287,27,Lysbilde 274m$ 284,9,Lysbilde 98n$$274,11,Lysbilde 118q$$266,25,Lysbilde 258r$$267,62,Lysbilde 628s$$264,21,Lysbilde 218v$$289,61,Lysbilde 618w$$288,60,Lysbilde 608x$$287,27,Lysbilde 274$ 284,9,Lysbilde 98$$274,11,Lysbilde 118$$266,25,Lysbilde 258$$267,62,Lysbilde 628$$264,21,Lysbilde 218$$289,61,Lysbilde 618$$288,60,Lysbilde 608$$287,27,Lysbilde 274$ 284,9,Lysbilde 98$$274,11,Lysbilde 118$$266,25,Lysbilde 258$$267,62,Lysbilde 628$$264,21,Lysbilde 218$$289,61,Lysbilde 618$$288,60,Lysbilde 608$$287,27,Lysbilde 274$ 284,9,Lysbilde 98$$274,11,Lysbilde 118$$266,25,Lysbilde 258$$267,62,Lysbilde 628$$264,21,Lysbilde 218$$289,61,Lysbilde 618$$288,60,Lysbilde 608$$287,27,Lysbilde 274!% 284,9,Lysbilde 98"%$274,11,Lysbilde 118%%$266,25,Lysbilde 258&%$267,62,Lysbilde 628'%$264,21,Lysbilde 218*%$289,61,Lysbilde 618+%$288,60,Lysbilde 608,%$287,27,Lysbilde 274?% 284,9,Lysbilde 98@%$274,11,Lysbilde 118C%$266,25,Lysbilde 258D%$267,62,Lysbilde 628E%$264,21,Lysbilde 218H%$289,61,Lysbilde 618I%$288,60,Lysbilde 608J%$287,27,Lysbilde 274]% 284,9,Lysbilde 98^%$274,11,Lysbilde 118a%$266,25,Lysbilde 258b%$267,62,Lysbilde 628c%$264,21,Lysbilde 218f%$289,61,Lysbilde 618g%$288,60,Lysbilde 608h%$287,27,Lysbilde 274{% 284,9,Lysbilde 98|%$274,11,Lysbilde 118%$266,25,Lysbilde 258%$267,62,Lysbilde 628%$264,21,Lysbilde 218%$289,61,Lysbilde 618%$288,60,Lysbilde 608%$287,27,Lysbilde 274% 284,9,Lysbilde 98%$274,11,Lysbilde 118%$266,25,Lysbilde 258%$267,62,Lysbilde 628%$264,21,Lysbilde 218%$289,61,Lysbilde 618%$288,60,Lysbilde 608%$287,27,Lysbilde 274% 284,9,Lysbilde 98%$274,11,Lysbilde 118%$266,25,Lysbilde 258%$267,62,Lysbilde 628%$264,21,Lysbilde 218%$289,61,Lysbilde 618%$288,60,Lysbilde 608%$287,27,Lysbilde 274& 284,9,Lysbilde 98&$274,11,Lysbilde 118&$266,25,Lysbilde 258&$267,62,Lysbilde 628&$264,21,Lysbilde 218&$289,61,Lysbilde 618&$288,60,Lysbilde 608&$287,27,Lysbilde 274& 284,9,Lysbilde 98&$274,11,Lysbilde 118&$266,25,Lysbilde 258&$267,62,Lysbilde 628&$264,21,Lysbilde 218&$290,20,Lysbilde 208&$256,18,Lysbilde 188&$355,12,Lysbilde 124& 284,9,Lysbilde 98&$274,11,Lysbilde 118&$266,25,Lysbilde 258&$267,62,Lysbilde 628&$264,21,Lysbilde 218&$290,20,Lysbilde 208&$256,18,Lysbilde 188&$355,12,Lysbilde 124' 284,9,Lysbilde 98'$274,11,Lysbilde 118'$266,25,Lysbilde 258'$267,62,Lysbilde 628'$264,21,Lysbilde 214' 284,9,Lysbilde 98 '$274,11,Lysbilde 118#'$266,25,Lysbilde 258$'$267,62,Lysbilde 628%'$264,21,Lysbilde 214=' 284,9,Lysbilde 98>'$274,11,Lysbilde 118A'$266,25,Lysbilde 258B'$267,62,Lysbilde 628C'$264,21,Lysbilde 214[' 284,9,Lysbilde 98\'$274,11,Lysbilde 118_'$266,25,Lysbilde 258`'$267,62,Lysbilde 628a'$264,21,Lysbilde 218g'$290,20,Lysbilde 208h'$256,18,Lysbilde 188i'$355,12,Lysbilde 124y' 284,9,Lysbilde 98z'$274,11,Lysbilde 118}'$266,25,Lysbilde 258~'$267,62,Lysbilde 628'$264,21,Lysbilde 218'$290,20,Lysbilde 208'$256,18,Lysbilde 188'$355,12,Lysbilde 124' 284,9,Lysbilde 98'$274,11,Lysbilde 118'$266,25,Lysbilde 258'$267,62,Lysbilde 628'$264,21,Lysbilde 218'$290,20,Lysbilde 208'$256,18,Lysbilde 188'$355,12,Lysbilde 124' 284,9,Lysbilde 98'$274,11,Lysbilde 118'$266,25,Lysbilde 258'$267,62,Lysbilde 628'$264,21,Lysbilde 218'$290,20,Lysbilde 208'$256,18,Lysbilde 188'$355,12,Lysbilde 124' 284,9,Lysbilde 98'$274,11,Lysbilde 118'$266,25,Lysbilde 258'$267,62,Lysbilde 628'$264,21,Lysbilde 218'$290,20,Lysbilde 208'$256,18,Lysbilde 188'$355,12,Lysbilde 124' 284,9,Lysbilde 98'$274,11,Lysbilde 118'$266,25,Lysbilde 258'$267,62,Lysbilde 628'$264,21,Lysbilde 218'$290,20,Lysbilde 208'$256,18,Lysbilde 188'$355,12,Lysbilde 124( 284,9,Lysbilde 98($274,11,Lysbilde 118($266,25,Lysbilde 258($267,62,Lysbilde 628($264,21,Lysbilde 218($290,20,Lysbilde 208($256,18,Lysbilde 188($355,12,Lysbilde 124-( 284,9,Lysbilde 98.($274,11,Lysbilde 1181($266,25,Lysbilde 2582($267,62,Lysbilde 6283($264,21,Lysbilde 2189($290,20,Lysbilde 208:($256,18,Lysbilde 188;($355,12,Lysbilde 124( 284,9,Lysbilde 98($274,11,Lysbilde 118($266,25,Lysbilde 258($267,62,Lysbilde 628($264,21,Lysbilde 214( 284,9,Lysbilde 98($274,11,Lysbilde 118($266,25,Lysbilde 258($267,62,Lysbilde 628($264,21,Lysbilde 214( 284,9,Lysbilde 98($274,11,Lysbilde 118($266,25,Lysbilde 258($267,62,Lysbilde 628($264,21,Lysbilde 218($290,20,Lysbilde 208($256,18,Lysbilde 188($355,12,Lysbilde 124( 284,9,Lysbilde 98($274,11,Lysbilde 118($266,25,Lysbilde 258($267,62,Lysbilde 628($264,21,Lysbilde 2140, 284,9,Lysbilde 981,$274,11,Lysbilde 1184,$266,25,Lysbilde 2585,$267,62,Lysbilde 6286,$264,21,Lysbilde 2187,$290,20,Lysbilde 2088,$256,18,Lysbilde 1889,$355,12,Lysbilde 12475 284,9,Lysbilde 9885$274,11,Lysbilde 118;5$266,25,Lysbilde 258<5$267,62,Lysbilde 628=5$264,21,Lysbilde 21dp5Phttp://www.nordicfreight.org/nsabeng.pdfdq5Phttp://www.nordicfreight.org/nsabeng.pdfd|5Phttp://www.nordicfreight.org/nsabeng.pdfd}5Phttp://www.nordicfreight.org/nsabeng.pdf@7,http://www.ncmahq.org/458 368,8,Lysbilde 8878$369,72,Lysbilde 724<8 368,8,Lysbilde 88=8$369,72,Lysbilde 7249 368,8,Lysbilde 889$369,72,Lysbilde 728=$268,68,Lysbilde 688=$268,68,Lysbilde 688=$268,68,Lysbilde 688=$268,68,Lysbilde 688=$268,68,Lysbilde 688=$268,68,Lysbilde 688=$268,68,Lysbilde 688=$268,68,Lysbilde 688>$268,68,Lysbilde 688>$268,68,Lysbilde 688>$268,68,Lysbilde 688>$268,68,Lysbilde 688 >$268,68,Lysbilde 688 >$268,68,Lysbilde 688 >$268,68,Lysbilde 688>$268,68,Lysbilde 688>$268,68,Lysbilde 688>$268,68,Lysbilde 688>$268,68,Lysbilde 688>$268,68,Lysbilde 688>$268,68,Lysbilde 688>$268,68,Lysbilde 688>$268,68,Lysbilde 688!>$268,68,Lysbilde 688#>$268,68,Lysbilde 688%>$268,68,Lysbilde 688'>$268,68,Lysbilde 688)>$268,68,Lysbilde 688+>$268,68,Lysbilde 688->$268,68,Lysbilde 688/>$268,68,Lysbilde 6881>$268,68,Lysbilde 6883>$268,68,Lysbilde 6885>$268,68,Lysbilde 6887>$268,68,Lysbilde 6889>$268,68,Lysbilde 688;>$268,68,Lysbilde 688=>$268,68,Lysbilde 688?>$268,68,Lysbilde 688A>$268,68,Lysbilde 688C>$268,68,Lysbilde 688E>$268,68,Lysbilde 688G>$268,68,Lysbilde 688I>$268,68,Lysbilde 688K>$268,68,Lysbilde 688M>$268,68,Lysbilde 688O>$268,68,Lysbilde 688Q>$268,68,Lysbilde 688S>$268,68,Lysbilde 688U>$268,68,Lysbilde 688W>$268,68,Lysbilde 688Y>$268,68,Lysbilde 688[>$268,68,Lysbilde 688]>$268,68,Lysbilde 688_>$268,68,Lysbilde 688a>$268,68,Lysbilde 688c>$268,68,Lysbilde 688e>$268,68,Lysbilde 688g>$268,68,Lysbilde 688i>$268,68,Lysbilde 688k>$268,68,Lysbilde 688m>$268,68,Lysbilde 688r>$370,73,Lysbilde 738>$372,75,Lysbilde 758>$383,86,Lysbilde 868>$387,90,Lysbilde 908>$424,97,Lysbilde 97<>(428,101,Lysbilde 1018>$370,73,Lysbilde 738>$372,75,Lysbilde 75<>(428,101,Lysbilde 1018>$387,90,Lysbilde 908>$424,97,Lysbilde 978>$383,86,Lysbilde 868>$370,73,Lysbilde 738>$372,75,Lysbilde 75<>(428,101,Lysbilde 1018>$387,90,Lysbilde 908>$424,97,Lysbilde 978>$383,86,Lysbilde 868>$370,73,Lysbilde 738>$372,75,Lysbilde 75<>(428,101,Lysbilde 1018>$387,90,Lysbilde 908>$424,97,Lysbilde 978>$383,86,Lysbilde 868>$370,73,Lysbilde 738>$372,75,Lysbilde 75<>(428,101,Lysbilde 1018?$387,90,Lysbilde 908?$424,97,Lysbilde 978?$383,86,Lysbilde 868 ?$370,73,Lysbilde 738 ?$372,75,Lysbilde 75< ?(428,101,Lysbilde 1018?$387,90,Lysbilde 908?$424,97,Lysbilde 978?$383,86,Lysbilde 868?$370,73,Lysbilde 738?$372,75,Lysbilde 75<?(428,101,Lysbilde 1018?$387,90,Lysbilde 908?$424,97,Lysbilde 978?$383,86,Lysbilde 868'?$370,73,Lysbilde 738(?$372,75,Lysbilde 75<)?(428,101,Lysbilde 1018*?$387,90,Lysbilde 908+?$424,97,Lysbilde 978,?$383,86,Lysbilde 8685?$370,73,Lysbilde 7386?$372,75,Lysbilde 75<7?(428,101,Lysbilde 10188?$387,90,Lysbilde 9089?$424,97,Lysbilde 978:?$383,86,Lysbilde 868C?$370,73,Lysbilde 738D?$372,75,Lysbilde 75<E?(428,101,Lysbilde 1018F?$387,90,Lysbilde 908G?$424,97,Lysbilde 978H?$383,86,Lysbilde 868Q?$370,73,Lysbilde 738R?$372,75,Lysbilde 75<S?(428,101,Lysbilde 1018T?$387,90,Lysbilde 908U?$424,97,Lysbilde 978V?$383,86,Lysbilde 868_?$370,73,Lysbilde 738`?$372,75,Lysbilde 75<a?(428,101,Lysbilde 1018b?$387,90,Lysbilde 908c?$424,97,Lysbilde 978d?$383,86,Lysbilde 868m?$370,73,Lysbilde 738n?$372,75,Lysbilde 75<o?(428,101,Lysbilde 1018p?$387,90,Lysbilde 908q?$424,97,Lysbilde 978r?$383,86,Lysbilde 868{?$370,73,Lysbilde 738|?$372,75,Lysbilde 75<}?(428,101,Lysbilde 1018~?$387,90,Lysbilde 908?$424,97,Lysbilde 978?$383,86,Lysbilde 868?$370,73,Lysbilde 738?$372,75,Lysbilde 75<?(428,101,Lysbilde 1018?$387,90,Lysbilde 908?$424,97,Lysbilde 978?$383,86,Lysbilde 868?$370,73,Lysbilde 738?$372,75,Lysbilde 75<?(428,101,Lysbilde 1018?$387,90,Lysbilde 908?$424,97,Lysbilde 978?$383,86,Lysbilde 868?$370,73,Lysbilde 738?$372,75,Lysbilde 75<?(428,101,Lysbilde 1018?$387,90,Lysbilde 908?$424,97,Lysbilde 978?$383,86,Lysbilde 868?$370,73,Lysbilde 738?$372,75,Lysbilde 75<?(428,101,Lysbilde 1018?$387,90,Lysbilde 908?$424,97,Lysbilde 978?$383,86,Lysbilde 868?$370,73,Lysbilde 738?$372,75,Lysbilde 75<?(428,101,Lysbilde 1018?$387,90,Lysbilde 908?$424,97,Lysbilde 978?$383,86,Lysbilde 868?$370,73,Lysbilde 738?$372,75,Lysbilde 75<?(428,101,Lysbilde 1018?$387,90,Lysbilde 908?$424,97,Lysbilde 978?$383,86,Lysbilde 868?$370,73,Lysbilde 738?$372,75,Lysbilde 75<?(428,101,Lysbilde 1018?$387,90,Lysbilde 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S  0 ``  >*  0 `   @*  00 `   @*H  0޽h ? ̙33 Oletusrakenne0 "( hȚI   0 %   T*   0 E \%  V* d  c $ ?6&    0 n ..J  VKlikk for redigere tekststiler i malen Andre niv Tredje niv Fjerde niv Femte niv)    W  6( 2   T*   6l E \2  V* H  0Pesؕ ? ̙33(  (    0 5   R*     0R E \5  T*     6x@ &   R*     6I E \&  T*   H  0Pesؕ ? ̙33 00( w H  0޽h ? ̙33p @( w -  <` 0@m a 2003 Associate Professor, doctor juris Petri Keskitalo The Faculty of Law, University of Troms"b`#)O  <7  ?CONTRACTUAL RISK MANAGEMENT IN TRANSNATIONAL SALES CONTRACTSl@( ((-?  <|+ J  hVersion 13.02.2003 H  0޽h ? ̙33 G?P( w   <t `  DRISK MANAGEMENT:  0T~`  ,$D 0 X Risk management is a comprehensive view of the risk factors threatening the business operations and at the same time a systematic course of action, which aims at minimising the likelihood of risk materialising and the economic losses caused by the risk             0|`  ,$D 0 _ Eero Luotonen H  0޽h ? ̙33T    `$| (  $ $ 0Ћ`0 ,$D 0 - A systematic method for use of proactive contracting i.e. contract design and contract governance for the purpose of holistic management of risks to the firm         d $ <`  DRISK MANAGEMENT: $ <D`e ,$D 0 @ CONTRACTUAL  " $ 0` ! ,$D 0 0- Forms a part of the firm s total risk management but adopts a view internal to the contracting activities for the management of the risks to the firm      d $ 0`\,$D 0 pz- Offers a common language for the various groups of professionals in charge of the firms contracting and risk management{{     d $ 0`0  ,$D 0 Hl- Alternative methods are for example: production-technical solutions finance-technical solutions insurancesmm   dH $ 0޽h ? ̙33 p  (    0\`pT,$D 0 bX- Can be tailored for the purposes of the firms strategic and operative risk management:XY0  | #  d  0D` ,$D 0 - Strategic contractual risk management will enable the firm to systematically develope and manage it s contracting activities < u " d  045`P,$D 0 6h- Will enable the firms contracting activities also to fullfill the demands set by the ISO 9001-standardii|  d   <`  DRISK MANAGEMENT:   <`e ,$0 @ CONTRACTUAL     0T``0 N,$D 0 C- Is based on an integration of the legal, economics and risk management perspectives to the management of the risks to the firm with help of contrating activitiesx$ \        d~   0`\  ,$D 0 - Operative contractual risk management will enable the firm to systematically manage it s single business transactions<x m     dH  0޽h ? ̙33 :2,( w , , <(=a ,$D 0 21) Risk identification 2) Risk evaluation 3) Risk mitigation - risk bearing - risk elimination - risk reduction - risk transfer 4) Risk management monitoring and controltG+      d , <x`8C LRISK MANAGEMENT PROCESS:H , 0޽h ? ̙33Q :e(  \  0(=,$D  0 * Development of strategies and procedures++J  ,  0= ,$D  0 7 Monitoring and control of contractual risk management88v   ,-  0=  ,$D  0  Contractual risk mitigation(  ,!  07=,$D 0  Risk evaluation( ,  08|=,$D 0  Risk identification,!z 00@  00@,$D 0#  0|m=00@,$D 0  (,lB   <D0@   00@P,$D 0p   08b=0,$D 0  Identification of strategies*!X ,<  B=I0l$D 0!0!0 V1)<  B=l$D 0!0!0 V2)   B=l$D  0!0!0 :6)< ! B(?=  l$D 0!0!0 V4)< " B̓= l$D  0!0!0 V5)< # B\=l$D 0!0!0 V3)Yl @PP 6@PP,$D 0 0 6`^=@P0  Go to Strategic C-RM 4  1 0=0 PP iGo to Operative C-RM  4 s *̙ p 58!0 5 s * 0 78!0* 7 < = ,$0  RISK MANAGEMENT:2 ,! 8 <=1 ,$D 0 THEORY OF CONTRACTUAL& ,B : B =>l$D 0@!0!0 \C RM( H  0޽h ? ̙33 G(  X  0?,$D  0 * Development of strategies and procedures++J  ,  0hP ,$D  0 7 Monitoring and control of contractual risk management88v   ,)  04  ,$D  0  Contractual risk mitigation(  ,  0 ,$D 0  Risk evaluation  ,  0,$D 0  Risk identification,!z 00@  00@,$D 0#  000@,$D 0  (,lB   <D0@   00@P,$D 0h   00,$D 0  Identification of strategies"!X ,8  BI0l$D 0!0!0 R1)8  B!l$D 0!0!0 R2)  Bl$D  0!0!0 66)8  B*  l$D 0!0!0 R4)8  B- l$D  0!0!0 R5)8  B1l$D 0!0!0 R3)gz @PP  @PP,$0  66@P0  Go to Strategic C-RM 4   00 PP iGo to Operative C-RM   s *̙ p <8!0  s * 0 =8!0B  B<>l$D 0@!0!0 \C RM( 2  <X ,$0  RISK MANAGEMENT::333 ,%  <x1 ,$D 0 THEORY OF CONTRACTUAL*33 ,H  0޽h ? ̙33+   $+(  D  0,$0 , Development of strategies and procedures--0 ,$   0 ,$ 0 7 Monitoring and control of contractual risk management88v   ,)  0l  ,$ 0  Contractual risk mitigation(  ,  0,$0  Risk evaluation  ,  0X],$0  Risk identification,z 00@  00@,$0  s *pf00@,$D 0  (,`B   0D0@   00@P,$0   <Lop,$0 |CONTRACTUAL RISK MANAGEMENT: ,T   0w0,$0 " Identification of strategies"#!>,Z   s *̙0@,$D  0  s *̙ 0@`,$D  0  s *̙ 0@ ,$D  0  s *̙0@,$D  0  s *̙0@,$D 0  s *̙0@`,$D 0  BGH. P ,$D  0 The numbers also function as navigation links to the beginning of the section and as memory notes to the content of the section (point them by your mouse) ^* <8  BLI0l$075!0!0 R1)8  BDl$085!0!0 R2)  B0l$ 0=!0!0 66)8  B<  l$0;5!0!0 R4)8  B4 l$ 0<5!0!0 R5)8  Bxl$0=5!0!0 R3)'  <,$D 0  STRATEGIC6   ,*  0lI0,$D 0 business and risk management& ,'  0H`,$D 0  business and risk management" ,K  HGHy 0p@,$D 0 KThe abbreviation functions as a link to the beginning of the presentation8L!'D # H<8l$D 0V!0!0 XC-RM$  $ Bi`$  U Strategic    H  0޽h ?/  ̙33  9|&(  |z 00@ | 00@,$0 | s *H00@,$D 0  (,`B | 0D0@ | 00@P,$ 0 | s *0@`,$0 | 0,,$0 3? Identification of business and risk management strategiesZ@;`, $| B<I0@(!0!0 V1)  %| B@ @(!0!0 R2)  (| BP  @(!0!0 R4)  )| B @(!0!0 R5)  *| B@(!0!0 R3) 3| <p,$0 |CONTRACTUAL RISK MANAGEMENT: , 4| <$,$0 { STRATEGIC*   , 6| B.l$ 0=!0!0 66)D 8| H2<8l$D 0$V!0!0 XC-RM$  9| Bt7i`$  U Strategic    H | 0޽h ? ̙33  913h( w hz 00@ h 00@,$0 h s *?00@,$D 0  (,`B h 0D0@ h 00@P,$ 0 h s *̙0@`,$02 h 0_i@P,$D 0 fWhat is the company s operational environment like?44 h <RI t0 ,$D 0 \&What about risk management strategies?'' h 0\V  ,$D 0 q;If such strategies do not exist, how should they be formed?<< h 0B -@,$D 0 GWhat goals do these strategies set for the contractual risk management?HH- h < FS 9Identification of business and risk management strategies::J h 0(J,$D 0 NWhat are company s business strategies?((   h BNI0@(!0!0 R1)  !h B4X@(!0!0 R2)  $h Bl  @(!0!0 R4)  %h B @(!0!0 R5)  &h B@(!0!0 R3) 0h Bl$ 0=!0!0 66)D 2h HH<8l$D 0)V!0!0 XC-RM$  3h BXi`$  U Strategic    H h 0޽h ? ̙33L JTt(  Tz 00@ T 00@,$0 T s *d00@,$D 0  (,`B T 0D0@ T 00@P,$ 0 T 0(,,$0 ? Identification of business and risk management strategies:@<`,f  T 0g`+,$D 0 Risk identification a) Identification of general risks connected to the business and business transaction b) Identification of legal norms regulating the transaction c) Identification of risks and risk distribution created by legal norms>f    , T s *0@,$0  5T BPI0@(!0!0 R1) 6T Bز@(!0!0 V2)  9T B,  @(!0!0 R4)  :T B @(!0!0 R5)  ;T BN@(!0!0 R3) DT <Xp,$0 |CONTRACTUAL RISK MANAGEMENT: , ET <p,$0 { STRATEGIC*   , GT Bzl$ 0=!0!0 66)D IT H}<8l$D 0.V!0!0 XC-RM$  JT B(i`$  U Strategic    H T 0޽h ? ̙33  5-6(    00@P,$ 0  <00`$,$D 0 "T Identification of general risks connected to the business and business transaction,US~  z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  s *̙0@,$0)  0P0@7,$D 0 ) General risks connected to the business:6*(   <0x * Risk identification:*.r   0`0@ ,$D 0 1) Financial risks (currency risk and risk of buyer s insolvency, etc.) 2) Political risks (risk of change in legislation, etc.) 3) Risk of interruption 4) Risk of dependency 5) Product risk        # BI0@(!0!0 R1)  $ B`@(!0!0 R2)  ' Bh  @(!0!0 R4)  ( B` @(!0!0 R5)  ) B@(!0!0 R3)  / B9$ @(!0!0 Rc)  0 B@(!0!0 Rb) 1 BPP  7@(!0!0 Va) 3 Bl$ 0=!0!0 66)D 5 H<8l$D 03V!0!0 XC-RM$  6 Bi`$  U Strategic    H  0޽h ? ̙33: !9V(    00@P,$ 0  <0`$,$0 T Identification of general risks connected to the business and business transaction$US~  z 00@  00@,$0  s *0k00@,$D 0  (,`B  0D0@  s *̙0@,$0g   04,$D 0 cRisks connected to the coordination of the different parts of a transnational business transaction:dd@ d   <0x * Risk identification:*."  s *f@,$D 0  <d  P  ,$D 0 GTBT  "  s *fP @,$D  0"  0 L$D  0 !0"  s *̙p ,$D  0B  6DԔ@p ,$D 0B  6DԔ 1 ,$D 0B @ 6DԔ@! ,$D 0B  6DԔ P ,$D 0/   6(W l$D  0 !0!0 U Transport C 2   ! 0D00*,$D  0 a Finance C 2  " 0P,$D 0 QSales C 2  # 0P ,$D 0 c Insurance C 2    & BI0@-(!0!0 R1)  ' B@.(!0!0 R2)  * B  @1(!0!0 R4)  + Bx @2(!0!0 R5)  , B(@3(!0!0 R3)  2 B9$ @9(!0!0 Rc)  3 Bx@:(!0!0 Rb) 4 B|P  7@;(!0!0 Va) 6 BXl$ 0=!0!0 66)D 8 H<8l$D 08V!0!0 XC-RM$  9 Bi`$  U Strategic    H  0޽h ? ̙33   1 ) #8(    00@P,$ 0  <0`$,$0 T Identification of general risks connected to the business and business transaction$US~  z 00@  00@,$0  s *(00@,$D 0  (,`B  0D0@  s *̙0@,$0g  04,$0 cRisks connected to the coordination of the different parts of a transnational business transaction:dd?d   <p0x * Risk identification:*."  s *f@,$0"  s *fP @,$ 0"  0 L$ 0 !0"  s *̙p ,$ 0/  6 l$ 0 !0!0 U Transport C 2    000*,$ 0 a Finance C 2   0P,$0 QSales C 2   0dP ,$0 c Insurance C 2  4F 0   P B  6DԔ@ ,$D 0B   6DԔ0p00 ,$D 0B ! 6DԔ,$D 0k " <t 1 ,$D 0 3 INCO TERMS, The 1982 Institute Cargo Clauses4 4V  # 6%!( 0 ,$D 0 eINCOTERMS, COMBITERMS ( 2  $ 0\0 ,$D 0 pPayment modalities ( 2  % BI0@(!0!0 R1)  & Bl@(!0!0 R2)  ) B$  @(!0!0 R4)  * BF @(!0!0 R5)  + BHG@(!0!0 R3)  1 BM9$ @(!0!0 Rc)  2 BP@(!0!0 Rb) 3 BTP  7@(!0!0 Va) 5 B0Yl$ 0=!0!0 66)D 7 H\<8l$D 0=V!0!0 XC-RM$  8 B`i`$  U Strategic    H  0޽h ? ̙33 wo #R(    00@P,$ 0  <h0`$,$0 T Identification of general risks connected to the business and business transaction$US~  z 00@  00@,$0  s *`q00@,$D 0  (,`B  0D0@  s *̙0@,$0   <4{0x * Risk identification:*.M  <$y4 ,$D 0 Q Risks connected to the coordination of the central parts of a sales transaction:*RQdB / 6DԔp  ,$D  0B 0 6DԔ @ ,$D  0B 1@ 6DԔP,$D 0 2 0 ,$D 0 k Payment terms ( 2 3 0D,$D 0 lDelivery terms ( 2( 4 0pp`p,$D 0 Spesifications for the goods ( 24 B 5 6DԔP ,$D 0P 6 0̘ ` ,$D  0 *Mechanism for the adaption of the contract +( 2+N  B 7 <DԔ    ,$D  0B 8 <DԔ  ,$D 0B 9 BZDԔ @ @,$D  0B : BZDԔ ` ``,$D 0 z  0 p  < 0 p ,$D 0" = s *f 0 p ,$0 > 0$# ,$0 QSales C 2   ? BԣI0@'!0!0 R1)  @ B@'!0!0 R2)  C B   @'!0!0 R4)  D Bد @'!0!0 R5)  E B@'!0!0 R3)  K B9$ @'!0!0 Rc)  L Bл@'!0!0 Rb) M BP  7@'!0!0 Va) O Bl$ 0=!0!0 66)D Q H<8l$D 0BV!0!0 XC-RM$  R Bi`$  U Strategic    H  0޽h ? ̙33 % $$0)Nt3$( w t t 00@P,$ 0 t <$0`$,$0 T Identification of general risks connected to the business and business transaction$US~  z 00@ t 00@,$0 t s *H00@,$D 0  (,`B t 0D0@ t s *̙0@,$0, t <py`,$D 0 2 Risks connected to a single business transaction:(32d t <r0x * Risk identification:*.Q !t 6Lv< ,$D  0 'Risk for damage to or loss of the goods((2(N   "t 6z< P@ ,$D 0 {Risk for changing circumstances (2   #t 6M@,$D 0 Risk for contractual disputes(2& , $t 6P PD ,$D 0 Risk for delayed performance(24   %t 6(T@@P ,$D 0 tRisk for non-performance(2  3 &t 6X< },$D  0 #Risk for non-conforming performance$(2$4   F  0 p  :t 0 p " (t 0f 0 p ,$0 )t 6# ,$0 QSales C 2  *t 6^w,$D 0 lInformation risk(2  +t 6cP,$D 0 lNegotiation risk(2  ,t 68ft ,$D 0 Risk for product liability(2& zB 1t@ S o@p,$D 0zB 2t S o p ,$D  0zB 3t S o 0@ ,$D  0zB 4t S o  ,$D  0zB 5t S o ` ,$D 0B 6t s *o  ,$D 0zB 7t@ S o0@0 ,$D 0zB 8t@ S o` 0p ,$D 0zB 9t S o p,$D 0  ;t BHI0@'!0!0 R1)  !0!0 66)D Mt H`<8l$D 0GV!0!0 XC-RM$  Nt Bi`$  U Strategic    H t 0޽h ? ̙332 E2=2@A[1(  F  0 p  B 0 p " C s *f 0 p ,$0 D 0# ,$0 QSales C 2   00@P,$ 0  <h0`$,$0 T Identification of general risks connected to the business and business transaction$US~  z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  s *̙0@,$0$  <$y`l`,$D 0 * Need for contractual allocation of risks?(+*d   <0x * Risk identification:*.M  6< ,$ 0 'Risk for damage to or loss of the goods((2(N    6T< P@ ,$ 0 wRisk for changing circumstances (2    6@,$ 0 Risk for contractual disputes(2& (  6 PD ,$0 Risk for delayed performance(24     64@@P ,$0 pRisk for non-performance(2  /  6< },$0 #Risk for non-conforming performance$(2$4     6hw,$0 hInformation risk(2   6P,$0 hNegotiation risk(2   6ht ,$ 0 ~Risk for product liability(2& zB $ S o  ,$ 0zB % S o ` ,$0B & s *o  ,$0zB ' S o p,$0zB (@ S o@p,$0zB ) S o p ,$ 0zB * S o 0@ ,$ 0zB +@ S o0@0 ,$0zB ,@ S o` 0p ,$0Zl p  6p ,$D 0B - S o ,$ 0B . S o ` ,$0B / s *o ,$0B 0 S o p,$0B 1B S o@p,$0B 2 S o p ,$ 0B 3 S o0 @ ,$ 0B 4B S o0@0 ,$0B 5B S o0` p ,$0hz p  7 p ,$D 0B 8 S o ,$ 0B 9 S o ` ,$0B : s *o ,$0B ; S o p,$0B <B S o@p,$0B = S o p ,$ 0B > S o0 @ ,$ 0B ?B S o0@0 ,$0B @B S o0` p ,$0l 8 P  V8 P ,$D 0" A c $f8 P ,$D 0 E 68  ,$D 0 MI S C(2  F 6 ,$D 0 c 1 2 3 4 5 6 2   G BHI0@'!0!0 R1)  H BX@'!0!0 R2)  K B  @'!0!0 R4)  L B @'!0!0 R5)  M BD@'!0!0 R3)  S B 9$ @'!0!0 Rc)  T B@'!0!0 Rb) U BP  7@'!0!0 Va) X Bl$ 0>!0!0 66)D Z H<8l$D 0LV!0!0 XC-RM$  [ Bi`$  U Strategic    H  0޽h ? ̙33w6  66PF* 5(    00@P,$ 0  <0,$D 0 *P Identification of legal norms regulating the transaction: traditional approach8Q:~  z 00@  00@,$0  s *h<00@,$D 0  (,`B  0D0@  s *̙0@,$0  <X0y * Risk identification:.   BxI0@'!0!0 R1)   B @'!0!0 R2)   B\   @'!0!0 R4)   B @'!0!0 R5)   B<@'!0!0 R3)   BT9$ @'!0!0 Rc)  B @'!0!0 Vb)   B P  7@'!0!0 Ra)  B$l$ 0>!0!0 66)  0(p0V ,$D  0 PStandard contract clauses  0,R,$D 0 LInternational trade usage  00y ,$D 0 k9Established usages and/or practices between the parties::z `    `   ,$D  0H  C 7g`  H  C 70 G H  C 7  B  3 G? O   <H5p7 p>  MStandard contract terms  6/ : *,$D 0 MTailored contract terms  0` ,$D 0 f4Interpretation guidelines of the contract standards55h  #  @ ,$0  6p u ,$D 0 ILaw of the contractf  6&`,$D  0 DLEX MERCATORIAf  6|#,$D 0 8CISGf  6&0 d ,$D  0 PPECL, UPICC & CENTRAL TLDBf  6P \*,$D 0 A ORDRE PUBLICfB  <Dfo P ,$D 0B  <Dfo  ,$D 0B  @ <DfoP @0 ,$D 0B  BDoP p,$D 0B  <Dfo ,$D  0B  <Dfo ,$D! 0B  <Do 0 0 ,$D 0B  <Do ` ,$D 0B  <DoP @ ,$D 0B  <Do` P ,$D 0B  @ <Do  ,$D 0B  @ <Do` ,$D 0wz    ,$D  0H   C 7<H   C 7a@{rH   C 7v$<   # P   6h. KContracting standardsB  <Dop P p ,$D 0B  <Dfo ,$D 0Tz `      @ @ ,$D 0    BiCbDEdF>   VVVX\_bbWbZb]_]\] c g i iigc @      ``     B CDE,Fͤ  @   ` 33 k   B C DEDF$ͤ      @     `  ,   BiCbDEdF>7   VVVX\_bbWbZb]_]\] c g i iigc @      ``     B C DE8F 7        @     3 kBB !  3 7 kl "  BC DEF7   @    #  BCDE F7 @    O  $ 6 ` \ ,$D 0 A?$00B % <Dfo ,$D 0 & 60$,$D 0 u1BUILDING BLOCKS OF TRANSNATIONAL SALES CONTRACTS,(21 ' 6 [ ,$D 0 VMATERIAL FOR INTREPETATION  ( 6 ,$D 0 aand MATERIAL FOR GAP-FILLING:(ffD ) H<8l$D 0QV!0!0 XC-RM$  * Bi`$  U Strategic    H  0޽h ? ̙33  b Z `#(    00@P,$ 0   <T0 fZRisk identification: Identification of legal norms regulating the transaction: RM-approachD[:   z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  s *̙0@,$0  8 BI0@0,!0!0 R1)  9 B@1,!0!0 R2)  < B  @4,!0!0 R4)  = BH) @5,!0!0 R5)  > B*@6,!0!0 R3)  ? B9$ @7,!0!0 Rc) @ B@8,!0!0 Vb)  A B`P  7@9,!0!0 Ra) [ BMl$ 0>!0!0 66)3 { 6 p ,$D  0 3STANDARD CONTRACTUAL NORMS (optional default norms)44&    | 6QbP,$D 0 y-TYPES OF LEGAL NORMS REGULATING THE CONTRACT..ff . z `   } pP ,$D 0  ~ BiCbDEdF>   VVVX\_bbWbZb]_]\] c g i iigc @      ``    B CDE,F  @   ` 33 k  B C DEDF$      @     `  >   BiCbDEdF>7   VVVX\_bbWbZb]_]\] c g i iigc @      ``     B C DE8F 7        @     3 kNB  S 7 kl   BC DEF7   @      BCDE F7 @    O   6Sp ,$D  0 hINDIVIDUAL CONTRACTUAL NORMS    6W  ,$D 0 lDEFAULT LEGAL NORMS(  B  s *D)0 ,$D 0B  s *D) 0 ,$D 0B  s *D)  ,$D 0  6\*p,$D 0 bMANDATORY LEGAL NORMS!  D  Ha<8l$D 0VV!0!0 XC-RM$   B(ei`$  U Strategic    H  0޽h ? ̙33$ ##p&70#(    00@P,$ 0  <`m0 fZRisk identification: Identification of legal norms regulating the transaction: RM-approachD[:   z 00@  00@,$0  s *,00@,$D 0  (,`B  0D0@  s *̙0@,$0   B6I0@J!0!0 R1)    B:@J!0!0 R2)    B>  @J!0!0 R4)    BB @J!0!0 R5)    BF@J!0!0 R3)    BJ9$ @J!0!0 Rc)  BXD@J!0!0 Vb)   BwP  7@J!0!0 Ra)  Bx{l$ 0J!0!0 66)3 " 6H~ p ,$D 0 3STANDARD CONTRACTUAL NORMS (optional default norms)44&    # 6bP,$D 0 y-TYPES OF LEGAL NORMS REGULATING THE CONTRACT..ff . z `   $ pP ,$D 0  % BiCbDEdF>   VVVX\_bbWbZb]_]\] c g i iigc @      ``   & B CDE,F  @   ` 33 k ' B C DEDF$      @     `  > (  BiCbDEdF>7   VVVX\_bbWbZb]_]\] c g i iigc @      ``   )  B C DE8F 7        @     3 kNB * S 7 kl +  BC DEF7   @    ,  BCDE F7 @    O  - 6Ȉp ,$D 0 hINDIVIDUAL CONTRACTUAL NORMS   . 6  @r ,$0 lDEFAULT LEGAL NORMS(  B / s *D)0 ,$D 0B 0 s *D) 0 ,$D 0B 1 s *D)  ,$D 0 2 6|*p,$D 0 bMANDATORY LEGAL NORMS!  , 3 6&`  ,$D 0  Unavoidable default legal norms4!    n 4 6^ 0* ,$D 0 6Alternative sets of default legal norms (legal orders),7 ___,___N       B 5 0D)  ,$D 0D 6 H$<8l$D 0[V!0!0 XC-RM$  7 B\ i`$  U Strategic    H  0޽h ? ̙335 k5c5BA P4(   z 00@   00@,$0   s *00@,$D 0  (,`B   0D0@ ~ 00@P,$ 0 J s *̙0@,$0  <l0 fZRisk identification: Identification of legal norms regulating the transaction: RM-approachD[:      B &I0@y'!0!0 R1)   B`*@z'!0!0 R2)   B$.  @}'!0!0 R4)   B02 @~'!0!0 R5)   BH6@'!0!0 R3)   B:9$ @'!0!0 Rc)  B=@'!0!0 Vb)   BAP  7@'!0!0 Ra)  BDFl$ 0 >!0!0 66)  0Ip0V ,$D  0 RStandard contract clauses   0MR,$D 0 NInternational trade usage   0Ly ,$D 0 m9Established usages and/or practices between the parties: :=z `     `   ,$D  0H   C 7g`  H   C 70 G H   C 7     <Up7 p>  OStandard contract terms   6Z : *,$D 0 OTailored contract terms   0^` ,$D  0 l4Interpretation guidelines of the contract standards5 5h  #  @ ,$0  6Dcp u ,$D 0 GLaw of the contract   6a&`,$D 0 BLEX MERCATORIA   6`l#,$D 0 jCISG J!0x  6s&0 d ,$D  0 PECL, UPICC & CENTRAL TLDB J!0J!0 J!0  6uP \*,$D 0 C ORDRE PUBLIC !B  <Do P ,$D  0B  <Do  ,$D  0B ! @ <D!oP @0 ,$D 0B " <Do ,$D  0B # <Do ,$D 0B $ <Do 0 0 ,$D 0B % <D3o ` ,$D 0B & <D3oP @ ,$D 0B ' <D3o` P ,$D 0B ( @ <Do  ,$D 0B ) @ <Do` ,$D 0F + S 37<F , S 37@a{rF - S 37v$ . Bh. MContracting standards B / <D3op P p ,$D 0B 0 <Do ,$D  0Tz `   1   @ @ ,$0  2  BiCbDEdF>   VVVX\_bbWbZb]_]\] c g i iigc @      ``   3  B CDE,Fͤ  @   ` 33 k 4  B C DEDF$ͤ      @     `  , 5  BiCbDEdF>7   VVVX\_bbWbZb]_]\] c g i iigc @      ``   6  B C DE8F 7        @     3 kBB 7  3 7 kl 8  BC DEF7   @    9  BCDE F7 @    O  : 6 ` \ ,$D 0 C?& 00B ; <Do ,$D  0 < 6L ,$D 0 fSTANDARD CONTRACTUAL NORMS3   = 6pP D,$D 0 bMANDATORY LEGAL NORMS,!   > 6 P,$D 0 ~" and INDIVIDUAL CONTRACTUAL NORMS:,#f" #  ? 6 p @D,$D 0 lDEFAULT LEGAL NORMS,(  D @ H<8l$D 0`V!0!0 XC-RM$  A B$i`$  U Strategic    H  0޽h ? ̙33  ph((    00@P,$ 0  <@f0j,$D 0 F Identification of risks and risk distribution created by legal norms,GEVz 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  s *̙0@,$0  <0y * Risk identification:."  0,$D 0 .What is the default legal distribution of the risks to the business and business transaction? Are contract-specific investments adequately protected? Do legal norms give adequate protection against the opportunistic behaviour of the contracting party? Do legal norms create risks of their own?*/.zd   BI0@&!0!0 R1)   Bв@&!0!0 R2)   B  @&!0!0 R4)   B| @&!0!0 R5)   Bt@&!0!0 R3) ! B9$ @&!0!0 Vc)  " B|@&!0!0 Rb)  # B\P  7@&!0!0 Ra) % Bl$ 0 >!0!0 66)D ' H8&}<8l$D 0eV!0!0 XC-RM$  ( B(l}i`$  U Strategic    H  0޽h ? ̙33 yqI( ( w (z 00@ ( 00@,$0 ( s *t}00@,$D 0  (,`B ( 0D0@ ( 00@P,$ 09  ( 0x}:,$0 C Identification of business and risk management strategies Risk identification a) Identification of general risks connected to the business and business transaction b) Identification of legal norms regulating the transaction c) Identification of the risks and risk distribution created by legal normsbDS   , - ( 0|},$D 0 Risk evaluation&" ,XL ( s *0@,$0  4( B(}I0@&!0!0 R1)  5( BT}@&!0!0 R2)  8( B}  @&!0!0 R4)  9( BR} @&!0!0 R5) :( B V}@&!0!0 V3)  @( BY}9$ @&!0!0 Rc)  A( B]}@&!0!0 Rb)  B( B}P  7@&!0!0 Ra) C( <p}p,$0 |CONTRACTUAL RISK MANAGEMENT: , D( <},$0 { STRATEGIC*   , F( BD}l$ 0 >!0!0 66)D H( Hd}<8l$D 0jV!0!0 XC-RM$  I( BN}i`$  U Strategic    H ( 0޽h ? ̙33$  C$;$2t``#( w `z 00@ ` 00@,$0 ` s *}00@,$D 0  (,`B ` 0D0@  ` s *̙0@,$0 ` 00@P,$ 0 ` <  ! oRisk evaluation" H ` 0]p ,$D 0 bThe goal is to allocate risk management resources with help of determination of the risk exposurecczdz    I`   ,$D 0f !` 6  f "` 6 @  f #` 6@  f $` 6   )` Bd    HExtent of the risk  *` B    !Insignificant Great Catastrofical"""z @  J`  @ ,$D 0f %` 6@ f &` 6 f '` 6 f (` 6  +` 6p P E Li k e l y h.% ,` 6 [ Unlikely Likely Very likely|    f P0 0  -`#  ,$D 0f ` 6P0 f ` 6 0  f ` 60 0 f ` 6  f ` 6P f ` 6 0 f ` 6 0 f ` 6  f ` 6P  9` 6 @ ,$D 0 11 :` 6 @  ,$D 0 12 ;` 6H  ,$D  0 13 <` 6 @ ,$D  0 14 =` 6 @ ,$D 0 12 >` 6p ,$D  0 16 ?` 6,$D 0 19 @` 6@ ,$D  0 16 A` 6 @ ,$D  0 13L H` 0p P,$D 0 XRisk exposure is determined as a multiple of the likelihood of the risk and its extent:*YXzd  a` BI0@'!0!0 R1)  b` Bت@'!0!0 R2)  e` Bd  @'!0!0 R4)  f` B @'!0!0 R5)  g` B@'!0!0 R3) q` Bp\l$ 0>!0!0 66)D s` H_<8l$D 0oV!0!0 XC-RM$  t` B|di`$  U Strategic    H ` 0޽h ? ̙33( ((9[(( O; z 00@  00@,$0  s *l00@,$D 0  (,`B  0D0@  s *̙0@,$0  00@P,$ 0  0wlp ,$D 0 Determination of the likelihood and extent of risks connected to contracts is often difficult and a three-way classification might be sufficient:*zd  0 @ ,$0 11   0̙ @ ,$D  0 3IIIX   0 @ X   0 @  X   0  X   0 @ X  0 @ X  0 X  0X  0@ X  0 @   0؋ @  ,$0 12  0  ,$ 0 13  0 @ ,$ 0 14  0h @ ,$0 12  0 ,$ 0 16  0,$ 0 19  0@ ,$ 0 16  0T @ ,$0 13  0f @  ,$D 0 2II  0"  ,$D 0 1I  08&f @ ,$D 0 2II  0)̙ @ ,$D  0 3III  0, ,$D 0 1I   00,$D 0 1I ! 0h3@ ,$D 0 1I " 06f @ ,$D 0 2II # <9 ! oRisk evaluation" F    $   ` % 0  ` & 0 @  ` ' 0@  ` ( 0   ) <p=    HExtent of the risk * <@   !Insignificant Great Catastrofical""z @  +  @ ,$0` , 0@ ` - 0 ` . 0 ` / 0  0 0xJp P E Li k e l i h. 1 0N [ Unlikely Likely Very likely|      H BKI0@'!0!0 R1)  I B@ '!0!0 R2)  L B`  @#'!0!0 R4)  M B0  @$'!0!0 R5)  N B @%'!0!0 R3) X Btl$ 0>!0!0 66)D Z H<8l$D 0tV!0!0 XC-RM$  [ B0i`$  U Strategic    H  0޽h ? ̙33- 3-+-;],(  z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  s *̙0@,$0  00@P,$ 0  0( ,$D 0 FAllocation of resources of the company s legal department based on a similar classification could be highly cost-efficient{{zd  <1 ! oRisk evaluation" 3   0h6p @,$D 0 E I Preventive law II Preventive law & remedial law III Remedial law(FE   0@ @ ,$0 11   0\D̙ @ ,$ 0 3III   0 @ ,$0   0 @  ,$0  0  ,$0  0 @ ,$0  0 @ ,$0  0 ,$0  0,$0  0@ ,$0  0 @ ,$0  0K @  ,$0 12  0O  ,$ 0 13  0pS @ ,$ 0 14  0N @ ,$0 12  0T ,$ 0 16  0<,$ 0 19  0 @ ,$ 0 16  08 @ ,$0 13  0\Mf @  ,$0 2II  0Ԩ  ,$0 1I  0 f @ ,$0 2II   0l̙ @ ,$ 0 3III ! 0 ,$0 1I " 0Z,$0 1I # 0]@ ,$0 1I $ 0شf @ ,$0 2IIF    %   ` & 0  ` ' 0 @  ` ( 0@  ` ) 0   * <Dd    HExtent of the risk + <lg   !Insignificant Great Catastrofical""z @  ,  @ ,$0` - 0@ ` . 0 ` / 0 ` 0 0  1 0Lqp P E Li k e l i h. 2 0u [ Unlikely Likely Very likely|    ? 3 0}< ,$D 0 YThe resources would then be allocated according to and in relation to the risk exposure:ZZzd  J B I0@='!0!0 R1)  K B,@>'!0!0 R2)  N BD  @A'!0!0 R4)  O B @B'!0!0 R5)  P BЖ@C'!0!0 R3) Z Bl$ 0>!0!0 66)D \ H\<8l$D 0yV!0!0 XC-RM$  ] Bi`$  U Strategic    H  0޽h ? ̙33H F0p(  0z 00@  0 00@,$0 0 s *00@,$D 0  (,`B 0 0D0@ 0 00@P,$ 0 0 08,$0 X Identification of business and risk management strategies Risk identification a) Identification of general risks connected to the business and business transaction b) Identification of legal norms regulating the transaction c) Identification of the risks and risk distribution created by legal norms Risk evaluationnYT Y , $ 0 0 ` ,$D 0  Contractual risk mitigation a) Identification and evaluation of contractual risk management tools b) Prediction and development of the viability of the contractual risk management tools c) Contractual risk allocation24      ,X6 0 s * 0@ ,$0  10 BLI0@['!0!0 R1)  20 B@\'!0!0 R2) 50 B  @_'!0!0 V4)  60 B @`'!0!0 R5)  70 B@a'!0!0 R3)  =0 Bj9$ @g'!0!0 Rc)  >0 Bll@h'!0!0 Rb)  ?0 BpP  7@i'!0!0 Ra) @0 <sp,$0 |CONTRACTUAL RISK MANAGEMENT: , A0 <|,$0 { STRATEGIC*   , C0 Bl$ 0>!0!0 66)D E0 H<8l$D 0~V!0!0 XC-RM$  F0 Bi`$  U Strategic    H 0 0޽h ? ̙33  f^9\(  \z 00@  \ 00@,$0   \ s *000@,$D 0 w ,`B  \ 0D0@ \ 00@P,$ 0 \ s *̙ 0@ ,$0$ \ <d0 f,$D 0  Golden advices::p \ 0@P ,$D 0 ^- predict eventual contractual problems and agree on meaningful governance mechanisms for the contract and the contractual relationship - remember cost effectiveness considering negotiating, designing, monitoring and enforcement of contracts - protect contract-specific investments - remember to build exits - prepare for contractual disputes_-_* f  v  \ <^0C<* Contractual risk mitigation:*<    %\ BpbI0@&!0!0 R1)  &\ Bf@&!0!0 R2)  )\ B  @&!0!0 R4)  *\ B @&!0!0 R5)  +\ B@&!0!0 R3)  .\ Bp (  @&!0!0 Rc)  /\ BY @ @&!0!0 Rb)  0\ B $ @&!0!0 Ra) 6\ Bұl$ 0>!0!0 66)D 8\ H<8l$D 0V!0!0 XC-RM$  9\ B=i`$  U Strategic    H \ 0޽h ? ̙33  <( w z 00@  00@,$0   s *lC00@,$D 0 w ,`B  0D0@  00@P,$ 0  s *̙ 0@ ,$0  0PMP 7,$D 0 >- Alternative governance mechanisms for business transactions???zX  < ,$D 0 C Identification and evaluation of contractual risk management tools,DCd   <0C<* Contractual risk mitigation:*<    ) BI0@%!0!0 R1)  * B@%!0!0 R2)  - B(Ű  @%!0!0 R4)  . 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D$g(  $ $ 04@0  >  $ 070  >R $ s *0 @0 XR $ 0Z@ XR $ 0Z@ XR $ 0 z 00@ $ 00@,$0   $ s *옯00@,$D 0 w ,`B  $ 0D0@  $ s *̙ 0@ ,$0RR $ s *` @PXR $ 0L@ @0 >z P   $  ,$0 $ 0,P  ,$D 0 @  $ <9 p! *  \Firm A   $ s *@P,$ 0 $ 00@P,$ 0 $ Hb>[ ,$D 0 r&STRATEGIES FOR TRANSNATIONAL BUSINESS'' '  $ <࣯,$0 C Identification and evaluation of contractual risk management tools$DCd  $ <@0C<* Contractual risk mitigation:*<    1$ BI0@%!0!0 R1)  2$ B$@%!0!0 R2)  5$ Bh  @%!0!0 R4)  6$ B @%!0!0 R5)  7$ B @%!0!0 R3)  :$ Bt  (  @%!0!0 Rc)  ;$ BPY @ @%!0!0 Rb) <$ B $ @%!0!0 Va) A$ Bl$ 0>!0!0 66)D C$ HT<8l$D 0V!0!0 XC-RM$  D$ Bi`$  U Strategic    H $ 0޽h ? ̙33 0( "7((  ( ( 0x(  >  ( 0(@0  >  ( 010  >R ( s *0 @0 XR ( 0Z@ XR ( 0Z@ XR ( 0 z 00@  ( 00@,$0   ( s *0600@,$D 0 w ,`B  ( 0D0@  ( s *̙ 0@ ,$0  ( <? `L,$D 0 EDirect export salesRR ( s *` @PXR ( 0L@ @0 >z P   (  ,$0 ( 0EP  ,$D 0 @  ( <H9 p! *  \Firm A   ( s *@P,$ 0 ( 00@P,$ 0 ( <L$P,$D 0 D DIRECT SALES   ( <M,$0 C Identification and evaluation of contractual risk management tools$DCd  ( <0W0C<* Contractual risk mitigation:*<    $( BFI0@{%!0!0 R1)  %( B-@|%!0!0 R2)  (( Bh  @%!0!0 R4)  )( B|^ @%!0!0 R5)  *( Bx@%!0!0 R3)  -( B0 (  @%!0!0 Rc)  .( B Y @ @%!0!0 Rb) /( Bܓ $ @%!0!0 Va) 4( Bl$ 0>!0!0 66)D 6( H<8l$D 0V!0!0 XC-RM$  7( Bi`$  U Strategic    H ( 0޽h ? ̙33 0%<,(  , , 0d  >  , 0\@0  >  , 00  >R , s *0 @0 XR , 0Z@ XR , 0Z@ XR , 0   , 6@< ,$D 0 PReseller   z 00@  , 00@,$0   , s *00@,$D 0 w ,`B  , 0D0@  , s *̙ 0@ ,$0 , <d `L,$0 EDirect export sales , 6(F : ,$D 0 ZINDIRECT SALES XR , 0L@ @0  , s *@P,$ 0 , 00@P,$ 0RR , s *` @P>z P   ,  ,$0 , 0P  ,$D 0 @  , <9 p! *  \Firm A   !, <H,$0 C Identification and evaluation of contractual risk management tools$DCd  ", <0C<* Contractual risk mitigation:*<   #, <$P,$0 D DIRECT SALES   $, <8  ,$D 0 Q Sales Agent    ), BI0@]%!0!0 R1)  *, B @^%!0!0 R2)  -, B   @a%!0!0 R4)  ., BX$ @b%!0!0 R5)  /, B(@c%!0!0 R3)  2, B`, (  @f%!0!0 Rc)  3, B0Y @ @g%!0!0 Rb) 4, B $ @h%!0!0 Va) 9, B/l$ 0!>!0!0 66)D ;, H<8l$D 0V!0!0 XC-RM$  <, Bi`$  U Strategic    H , 0޽h ? ̙33x! !!@(Q0 (  0 0 0  >  0 0@@0  > XR 0 0L@ @0 R 0 s *f0 @0  0 0pм0  >RR 0 s *f` @P 0 s *@P,$ 0XR  0 0Z@ XR  0 0Z@ XR  0 0 z 00@  0 00@,$0  0 s *\00@,$D 0 w ,`B 0 0D0@ 0 s *̙ 0@ ,$0 0 < `L,$0 EDirect export sales>z P   0  ,$0 0 0P  ,$D 0 @  0 < 9 p! *  \Firm A   0 <P ,$D 0 eLicense agreement 0 < ,$D 0 O Franchise   0 00@P,$ 0 "0 6f 90 ,$D 0 S LICENSING   $0 <hӼ,$0 C Identification and evaluation of contractual risk management tools$DCd  %0 <@0C<* Contractual risk mitigation:*<   &0 <C$P,$0 D DIRECT SALES   '0 <G8  ,$0 Q Sales Agent   )0 6K< ,$0 PReseller    *0 6OF : ,$0 ZINDIRECT SALES   >0 BXSI0@?%!0!0 R1)  ?0 B*@@%!0!0 R2)  B0 Bt/  @C%!0!0 R4)  C0 BV @D%!0!0 R5)  D0 B @E%!0!0 R3)  G0 B( (  @H%!0!0 Rc)  H0 BżY @ @I%!0!0 Rb) I0 Bhȼ $ @J%!0!0 Va) N0 BX̼l$ 0#>!0!0 66)D P0 H mR<8l$D 0V!0!0 XC-RM$  Q0 BRi`$  U Strategic    H 0 0޽h ? ̙33& %%P,X46%(  4 4 0tR  >  4 003f@0  > XR 4 0Lf@ @0 R 4 s *f0 @0  4 0`R0  >R 4 0DRf` @P B3XR  4 0Z@ R  4 <ZRf@  Bf  4 6Rff. ,$D 0 U Joint Venture XR  4 0 z 00@ 4 00@,$0  4 s *R00@,$D 0 w ,`B 4 0D0@ 4 s *̙ 0@ ,$0 4 <R `L,$0 EDirect export sales>z P   4  ,$0 4 0RP  ,$D 0 @  4 <`R9 p! *  \Firm A   4 <R ,$D 0 V Sales office      4 <$R ,$0 O Franchise   #4 6Rfw ,$D 0 _ESTABLIHMENT ABROAD  $4 s *@P,$ 0 %4 00@P,$ 0 (4 <$R,$0 C Identification and evaluation of contractual risk management tools$DCd  )4 <R0C<* Contractual risk mitigation:*<   *4 <O$P,$0 D DIRECT SALES   +4 <O8  ,$0 Q Sales Agent   -4 6LOf 90 ,$0 S LICENSING   .4 <O ,$0 eLicense agreement /4 6O< ,$0 PReseller    04 6OF : ,$0 ZINDIRECT SALES  14 <O.,$D 0 R Subsidiary     E4 BOI0@!%!0!0 R1)  F4 BO@"%!0!0 R2)  I4 B  @%%!0!0 R4)  J4 B @&%!0!0 R5)  K4 B@'%!0!0 R3)  N4 B@ (  @*%!0!0 Rc)  O4 BY @ @+%!0!0 Rb) P4 B $ @,%!0!0 Va) U4 B l$ 0%>!0!0 66)D W4 H<8l$D 0V!0!0 XC-RM$  X4 B@]i`$  U Strategic    H 4 0޽h ? ̙33# ##`,F8#(  8 8 0G]@0  > XR 8 0L@ @0 R 8 s *̙0 @0 R 8 s *0 RR 8 s *` @P 8 s *0@P,$ 0XR  8 0Z@ z @   8 @ ,$0`R  8 0Z@   8 6M]`  @ z  PPp  8  ,$0`R 8 0 PPp 8 6Q]T  @ z 00@ 8 00@,$0  8 s *T]00@,$D 0 w ,`B 8 0D0@ 8 00@P,$ 0 8 s *̙ 0@ ,$0>z P   8  ,$0 8 0_]P  ,$D 0 @  8 <a]9 p! *  \Firm A   "8 <e]  V Sales office     #8 <0i]  O Franchise   $8 <P ,$D 0 {/GOVERNANCE MECHANISMS FOR BUSINESS TRANSACTIONS00 0   38 B]I0@$!0!0 R1)  48 BЗ]@$!0!0 R2)  78 B]  @$!0!0 R4)  88 B] @$!0!0 R5)  98 Bt]@$!0!0 R3)  <8 B] (  @$!0!0 Rc)  =8 B]Y @ @$!0!0 Rb) >8 Bx] $ @$!0!0 Va) C8 Bd]l$ 0'>!0!0 66)D E8 H]<8l$D 0V!0!0 XC-RM$  F8 B]i`$  U Strategic    H 8 0޽h ? ̙33" !!p)C<-!(  < < 0]@0  > R < s *0 @0 XR < 0Z@ R < s *0 RR < s *` @P < 0]  > XR < 0L@ @0   < s *@P,$ 0XR  < 0Z@ XR  < 0 z 00@ < 00@,$0  < s *]00@,$D 0 w ,`B < 0D0@ < s *̙ 0@ ,$0>z P   <  ,$0 < 0 ]P  ,$D 0 @  < <]9 p! *  \Firm A   < <] ,$0 V Sales office     < <4] ,$0 O Franchise    < 00@P,$ 0 "< 6 ][ YMARKET GOVERNANCE   #< <] `L,$0 EDirect export sales $< 6]f. ,$0 U Joint Venture  %< <],$0 C Identification and evaluation of contractual risk management tools$DCd  &< <]0C<* Contractual risk mitigation:*<   '< <O8  ,$0 Q Sales Agent   )< < ,$0 eLicense agreement *< 6< ,$0 PReseller    +< <.,$0 R Subsidiary     0< BI0@$!0!0 R1)  1< B@$!0!0 R2)  4< B  @$!0!0 R4)  5< B  @$!0!0 R5)  6< B$@$!0!0 R3)  9< B (  @$!0!0 Rc)  :< B`Y @ @$!0!0 Rb) ;< B` $ @$!0!0 Va) @< Bx`l$ 0)>!0!0 66)D B< H`<8l$D 0V!0!0 XC-RM$  C< Bi`$  U Strategic    H < 0޽h ? ̙33# 7#/#*E@"(  @ @ s *0 ,$0R @ s *0 @0 RR @ s *` @P @ 0  >  @ 0h@0  > XR @ 0L@ @0  @ s *@P,$ 0XR  @ 0Z@ XR  @ 0Z@   @ 6X f. ,$0 U Joint Venture R  @ 0 ,$0z 00@ @ 00@,$0  @ s *%00@,$D 0 w ,`B @ 0D0@ @ s *̙ 0@ ,$0>z P   @  ,$0 @ 0.P  ,$D 0 @  @ <h29 p! *  \Firm A   @ <p6 ,$0 V Sales office      @ <H: ,$0 O Franchise   !@ 00@P,$ 0 #@ 649^,$0 YMARKET GOVERNANCE   $@ 6A@ pF ,$0 \SYMBIOSIS GOVERNANCE   %@ <,F `L,$0 EDirect export sales &@ <J,$0 C Identification and evaluation of contractual risk management tools$DCd  '@ <O0C<* Contractual risk mitigation:*<   (@ <T8  ,$0 Q Sales Agent   *@ <X ,$0 eLicense agreement +@ 6$\< ,$0 PReseller    -@ <_.,$0 R Subsidiary     2@ BcI0@$!0!0 R1)  3@ B^@$!0!0 R2)  6@ BXf  @$!0!0 R4)  7@ B8j @$!0!0 R5)  8@ Bn@$!0!0 R3)  ;@ Bq (  @$!0!0 Rc)  <@ BuY @ @$!0!0 Rb) =@ By $ @$!0!0 Va) B@ B}l$ 0+>!0!0 66)D D@ Hl<8l$D 0V!0!0 XC-RM$  E@ Bi`$  U Strategic    H @ 0޽h ? ̙33k$ $#+GD#(  DR D s *0 @0  D 0@@0  > XR D 0Z@ XR D 0Z@ R D s *0 RR D s *` @P D 0  > XR  D 0L@ @0   D s *@P,$ 0  D <f. ,$0 U Joint Venture R  D 0 ,$0z 00@ D 00@,$0  D s *П00@,$D 0 w ,`B D 0D0@ D s *̙ 0@ ,$0>z P   D  ,$0 D 0$P  ,$D 0 @  D <쬪9 p! *  \Firm A   D < ,$0 V Sales office      D <8 ,$0 O Franchise   !D 00@P,$ 0 #D 6$[,$0 YMARKET GOVERNANCE   %D <H `L,$0 EDirect export sales &D 6  ,$0 XPOWER GOVERNANCE   'D <Ī,$0 C Identification and evaluation of contractual risk management tools$DCd  (D <ɪ0C<* Contractual risk mitigation:*<   )D <Ϫ8  ,$0 Q Sales Agent   ,D 6Ӫ@ pF ,$0 \SYMBIOSIS GOVERNANCE   -D < ت ,$0 eLicense agreement .D 6 ܪ< ,$0 PReseller    /D <H.,$0 R Subsidiary     4D B۪I0@m$!0!0 R1)  5D B@n$!0!0 R2)  8D B  @q$!0!0 R4)  9D B @r$!0!0 R5)  :D BP@s$!0!0 R3)  =D B\ (  @v$!0!0 Rc)  >D BtY @ @w$!0!0 Rb) ?D B̏ $ @x$!0!0 Va) DD B l$ 0->!0!0 66)D FD HX<8l$D 0V!0!0 XC-RM$  GD Bi`$  U Strategic    H D 0޽h ? ̙33$ $$+OH #(  H H 0|  >  H 0@0  > XR  H 0L@ @0  4H 6X  ,$0 XPOWER GOVERNANCE  R H s *0 @0 XR H 0Z@ ^R H 6Z@ R H s *0 RR H s *` @P  H s *@P,$ 0  H <||.,$0 R Subsidiary     H <<f. ,$0 U Joint Venture R  H 0 ,$0z 00@ H 00@,$0  H s *H00@,$D 0 w ,`B H 0D0@ H s *̙ 0@ ,$0>z P   H  ,$0 H 0P  ,$D 0 @  H <î9 p! *  \Firm A   H <Ǯ ,$0 V Sales office      H <ˮ ,$0 O Franchise   !H 00@P,$ 0 #H 6Ϯ[,$0 YMARKET GOVERNANCE   %H < Ԯ `L,$0 EDirect export sales -H <Ү,$0 C Identification and evaluation of contractual risk management tools$DCd  .H <ݮ0C<* Contractual risk mitigation:*<   /H <08  ,$0 Q Sales Agent   2H 6@ pF ,$0 \SYMBIOSIS GOVERNANCE   3H < ,$0 eLicense agreement 5H 6|< ,$0 PReseller     !0!0 66)D NH H\<8l$D 0V!0!0 XC-RM$  OH Bi`$  U Strategic    H H 0޽h ? ̙33 )(  z 00@  00@,$0   s *00@,$D 0 w ,`B  0D0@  00@P,$ 0  s *̙ 0@ ,$0  0P 7,$0 >- Alternative governance mechanisms for business transactions???zX  0  ,$0 r&- Alternative contractual instruments?''zX  <߰,$0 C Identification and evaluation of contractual risk management tools$DCd   <0C<* Contractual risk mitigation:*<     BTI0@1$!0!0 R1)   Bh@2$!0!0 R2)   B  @5$!0!0 R4)   B @6$!0!0 R5)   B@7$!0!0 R3)   B (  @:$!0!0 Rc)    BY @ @;$!0!0 Rb) ! 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B} @$!0!0 R5)  @ B@$!0!0 R3)  C Bd (  @$!0!0 Rc)  D BDY @ @$!0!0 Rb) E B$ $ @$!0!0 Va) J Bxl$ 03>!0!0 66)D L H앚<8l$D 0V!0!0 XC-RM$  M B i`$  U Strategic    H  0޽h ? ̙33R# "",FLz"(  L L 0衚@0  > XR L 0L@ @0 R L s *0 @0 R L s *0 RR L s *` @PXR L 0Z@ z @   L @ ,$0`R  L 0Z@   L 6L`  @ z  PPp  L  ,$0`R  L 0 PPp L 6HT  @ z 00@ L 00@,$0  L s *x00@,$D 0 w ,`B L 0D0@ L s *̙ 0@ ,$0>z P   L  ,$0 L 0P  ,$D 0 @  L <,9 p! *  \Firm A   L <H  V Sales office      L <  O Franchise   !L <TŚ `L,$0 IDirect export sales "L s *@P,$ 0 #L s *0@P,$ 0 $L 00@P,$ 0 &L <ɚ,$0 C Identification and evaluation of contractual risk management tools$DCd  'L <Ϛ0C<* Contractual risk mitigation:*<   (L <D՚8  ,$0 Q Sales Agent   *L <4ٚ ,$0 eLicense agreement ,L 6ݚ< ,$0 PReseller    -L <.,$0 R Subsidiary    .L 6f. ,$0 U Joint Venture   3L BI0@#!0!0 R1)  4L B@#!0!0 R2)  7L Bl  @#!0!0 R4)  8L Bx @#!0!0 R5)  9L B@#!0!0 R3)  L B $ @$!0!0 Va) CL Bl$ 05>!0!0 66)D EL HH<8l$D 0V!0!0 XC-RM$  FL Bi`$  U Strategic    H L 0޽h ? ̙33H% $$0JPp$(  P P 0@0  > XR P 0L@ @0 R P s *0 @0 R P s *0 RR P s *` @PXR P 0Z@ z @   P @ ,$0`R  P 0Z@   P 6 `  @ z  PPp  P  ,$0`R  P 0 PPp P 6%T  @ z 00@ P 00@,$0  P s *萚00@,$D 0 w ,`B P 0D0@ P s *̙ 0@ ,$0>z P   P  ,$0 P 00P  ,$D 0 @  P <39 p! *  \Firm A   P <7  V Sales office      P <:  O Franchise   !P s *@P,$ 0 "P s *0@P,$ 0 #P 00@P,$ 0z  j %P  j,$D 0 &P 00fZj B lB 'P <DԔ PlB (PB <DԔ@@p )P <B`T GF b   *P <`F,$0 C Identification and evaluation of contractual risk management tools$DCd  +P <!0!0 66)D IP H$<8l$D 0V!0!0 XC-RM$  JP Bi`$  U Strategic    H P 0޽h ? ̙33T# "",FT|"(  T T 04@0  > XR T 0L@ @0  T s *@P,$ 0R T s *0 @0 R T s *0 RR T s *` @P T s *0@P,$ 0XR  T 0Z@ z @   T @ ,$0`R  T 0Z@   T 6`  @ z  PPp T  ,$0`R T 0 PPp T <T  @ z 00@ T 00@,$0  T s *00@,$D 0 w ,`B T 0D0@ T 00@P,$ 0 T s *̙ 0@ ,$0>z P   T  ,$0 T 0 P  ,$D 0 @   T <԰9 p! *  \Firm A   #T <촛  V Sales office     $T <  O Franchise   %T < `L,$0 EDirect export sales &T <\,$0 C Identification and evaluation of contractual risk management tools$DCd  'T <ƛ0C<* Contractual risk mitigation:*<   (T <p̛8  ,$0 Q Sales Agent   *T <ћ ,$0 eLicense agreement ,T 6ԛ< ,$0 PReseller    -T <|؛.,$0 R Subsidiary    .T 6ܛf. ,$0 U Joint Venture   3T BߛI0@#!0!0 R1)  4T Bt@#!0!0 R2)  7T B  @#!0!0 R4)  8T B @#!0!0 R5)  9T B @#!0!0 R3)  T B $ @#!0!0 Va) CT Bl$ 09>!0!0 66)D ET H<8l$D 0V!0!0 XC-RM$  FT B i`$  U Strategic    H T 0޽h ? ̙33& &x&3LX&(  X X 0@0  > XR X 0L@ @0  X s *@P,$ 0R X s *0 @0 R X s *0 RR X s *` @P X s *0@P,$ 0XR  X 0Z@ z @   X @ ,$0`R  X 0Z@   X 6`  @ z  PPp X  ,$0`R X 0 PPp X <T  @ z 00@ X 00@,$0  X s *H00@,$D 0 w ,`B X 0D0@ X 00@P,$ 0 X s *̙ 0@ ,$0>z P   X  ,$0 X 0)P  ,$D 0 @   X <h,9 p! *  \Firm A   #X <0  V Sales office     $X <4  O Franchise   %X <(8 `L,$0 EDirect export sales~z    &X   ,$D 0 'X 0<f   B  (X <`?p   GF b  R )X 08=@ p 5RrB *X BDop lB +X <Do@ lB ,XB <Do@ xB -X HLDo@  .X <HF,$0 C Identification and evaluation of contractual risk management tools$DCd  /X <L0C<* Contractual risk mitigation:*<   0X <R8  ,$0 Q Sales Agent   2X <X Bxm @#!0!0 R5)  ?X Bq@#!0!0 R3)  BX Bpu (  @#!0!0 Rc)  CX BxY @ @#!0!0 Rb) DX B| $ @#!0!0 Va) IX Bl$ 0;>!0!0 66)D KX H脜<8l$D 0V!0!0 XC-RM$  LX Bi`$  U Strategic    H X 0޽h ? ̙33N# "",F\v"(  \ \ 0䑜@0  > XR \ 0L@ @0  \ s *@P,$ 0R \ s *0 @0 R \ s *0 RR \ s *` @P \ s *0@P,$ 0XR  \ 0Z@ z @   \ @ ,$0`R  \ 0Z@   \ 68`  @ z  PPp \  ,$0`R \ 0 PPp \ 64T  @ z 00@ \ 00@,$0  \ s *00@,$D 0 w ,`B \ 0D0@ \ 00@P,$ 0 \ s *̙ 0@ ,$0>z P   \  ,$0 \ 0HP  ,$D 0 @   \ <9 p! *  \Firm A   #\ <(  V Sales office     $\ <@  O Franchise   %\ <з `L,$0 EDirect export sales &\ <,$0 C Identification and evaluation of contractual risk management tools$DCd  '\ <0C<* Contractual risk mitigation:*<   (\ <hƜ8  ,$0 Q Sales Agent   *\ <ʜ ,$0 eLicense agreement ,\ 6쩜< ,$0 PReseller    -\ <ќ.,$0 R Subsidiary    .\ 6Мf. ,$0 U Joint Venture   3\ BٜI0@}#!0!0 R1)  4\ Bhޜ@~#!0!0 R2)  7\ B  @#!0!0 R4)  8\ B\ @#!0!0 R5)  9\ Bh@#!0!0 R3)  <\ B (  @#!0!0 Rc)  =\ BLY @ @#!0!0 Rb) >\ B  $ @#!0!0 Va) C\ Bl$ 0=>!0!0 66)D E\ H<8l$D 0V!0!0 XC-RM$  F\ B\i`$  U Strategic    H \ 0޽h ? ̙33' q'i' 4M`'(  ` ` 0h @0  > XR ` 0L@ @0  ` s *@P,$ 0R ` s *0 @0  ` s *0 ,$0RR ` s *` @P ` s *0@P,$ 0XR  ` 0Z@ z @   ` @ ,$0`R  ` 0Z@   ` 6`  @ z  PPp `  ,$0`R ` 0 PPp ` 6T  @ z 00@ ` 00@,$0  ` s *00@,$D 0 w ,`B ` 0D0@ ` 00@P,$ 0 ` s *̙ 0@ ,$0>z P   `  ,$0 ` 0p#P  ,$D 0 @   ` <8&9 p! *  \Firm A   "` <P*  V Sales office     #` <h.  O Franchise   $` <1 `L,$0 EDirect export salesHz    %`   ,$D 0rB &` BDo p  lB '` <Do  rB (` BDo`rB )` BLDo   *` 053  B  +` 693Pp GF b   ,` 0d<`  B -` <?  GA  .` <XC,$0 C Identification and evaluation of contractual risk management tools$DCd  /` <H0C<* Contractual risk mitigation:*<   1` <$ ,$0 eLicense agreement 3` 6dR< ,$0 PReseller    4` <pU.,$0 R Subsidiary    5` 6hYf. ,$0 U Joint Venture   :` B]I0@_#!0!0 R1)  ;` Bb@`#!0!0 R2)  >` Be  @c#!0!0 R4)  ?` Bi @d#!0!0 R5)  @` Bn@e#!0!0 R3)  C` Bq (  @h#!0!0 Rc)  D` BuY @ @i#!0!0 Rb) E` By $ @j#!0!0 Va) J` B~l$ 0?>!0!0 66)D L` HH<8l$D 0V!0!0 XC-RM$  M` Bi`$  U Strategic    H ` 0޽h ? ̙33N# ""0,Fdv"(  d d 0|@0  > XR d 0L@ @0  d s *@P,$ 0R d s *0 @0 R d s *0 RR d s *` @P d s *0@P,$ 0XR  d 0Z@ z @   d @ ,$0`R  d 0Z@   d 6Ȕ`  @ z  PPp d  ,$0`R d 0 PPp d 6ĘT  @ z 00@ d 00@,$0  d s *00@,$D 0 w ,`B d 0D0@ d 00@P,$ 0 d s *̙ 0@ ,$0>z P   d  ,$0 d 0䥝P  ,$D 0 @   d <9 p! *  \Firm A   #d <Ĭ  V Sales office     $d <ܰ  O Franchise   %d <l `L,$0 EDirect export sales &d <4,$0 C Identification and evaluation of contractual risk management tools$DCd  'd <0C<* Contractual risk mitigation:*<   (d <PÝ8  ,$0 Q Sales Agent   *d <ǝ ,$0 eLicense agreement ,d 6˝< ,$0 PReseller    -d <\ϝ.,$0 R Subsidiary    .d 6ҝf. ,$0 U Joint Venture   3d B֝I0@A#!0!0 R1)  4d BTڝ@B#!0!0 R2)  7d Bޝ  @E#!0!0 R4)  8d B< @F#!0!0 R5)  9d B@G#!0!0 R3)  d B\ $ @L#!0!0 Va) Cd Btl$ 0A>!0!0 66)D Ed H|<8l$D 0V!0!0 XC-RM$  Fd Bi`$  U Strategic    H d 0޽h ? ̙33% %%@2Jh %(  h h 0 @0  > XR h 0L@ @0  h s *@P,$ 0R h s *0 @0 R h s *0 RR h s *` @P h s *0@P,$ 0XR  h 0Z@ z @   h @ ,$0`R  h 0Z@   h 6`  @ z  PPp h  ,$0`R h 0 PPp h 6,T  @ z 00@ h 00@,$0  h s *00@,$D 0 w ,`B h 0D0@ h 00@P,$ 0 h s *̙ 0@ ,$0>z P   h  ,$0 h 0"P  ,$D 0 @   h <%9 p! *  \Firm A   "h <)  V Sales office     #h <-  O Franchise   $h <1 `L,$0 EDirect export salesz    %h   ,$D 0 &h 05  B fB 'h 6Do`  ` fB (h 6Do   )h <9 P  J SL"  `B *h 0Do  `B +h 0Do` 0`  ,h <=,$0 C Identification and evaluation of contractual risk management tools$DCd  -h <|B0C<* Contractual risk mitigation:*<   .h <tH8  ,$0 Q Sales Agent   0h 6dL< ,$0 PReseller    1h <O.,$0 R Subsidiary    2h 6Sf. ,$0 U Joint Venture   7h B8XI0@##!0!0 R1)  8h Bx\@$#!0!0 R2)  ;h B<`  @'#!0!0 R4)  !0!0 66)D Ih H{<8l$D 0V!0!0 XC-RM$  Jh Bi`$  U Strategic    H h 0޽h ? ̙33N# ""P,Flv"(  l l 0̈@0  > XR l 0L@ @0  l s *@P,$ 0R l s *̙0 @0 R l s *0 RR l s *` @P l s *0@P,$ 0XR  l 0Z@ z @   l @ ,$0`R  l 0Z@   l 6`  @ z  PPp l  ,$0`R l 0 PPp l 6T  @ z 00@ l 00@,$0  l s *ĕ00@,$D 0 w ,`B l 0D0@ l 00@P,$ 0 l s *̙ 0@ ,$0>z P   l  ,$0 l 0@P  ,$D 0 @   l < 9 p! *  \Firm A   #l <$  V Sales office     $l <<  O Franchise   %l <̮ `L,$0 EDirect export sales &l <,$0 C Identification and evaluation of contractual risk management tools$DCd  'l <$0C<* Contractual risk mitigation:*<   (l < 8  ,$0 Q Sales Agent   *l <  ,$0 eLicense agreement ,l 6lĞ< ,$0 PReseller    -l <Ȟ.,$0 R Subsidiary    .l 6x̞f. ,$0 U Joint Venture   3l BОI0@#!0!0 R1)  4l BӞ@#!0!0 R2)  7l Blמ  @ #!0!0 R4)  8l B۞ @ #!0!0 R5)  9l Btߞ@ #!0!0 R3)  l B $ @#!0!0 Va) Cl Bl$ 0E>!0!0 66)D El H<<8l$D 0V!0!0 XC-RM$  Fl Bi`$  U Strategic    H l 0޽h ? ̙33~& &&`2Lp%(  p p 0$@0  > XR p 0L@ @0  p s *@P,$ 0R p s *̙0 @0 R p s *0 RR p s *` @P p s *0@P,$ 0XR  p 0Z@ z @   p @ ,$0`R  p 0Z@   p 6@`  @ z  PPp p  ,$0`R p 0 PPp p 6< T  @ z 00@ p 00@,$0  p s *l00@,$D 0 w ,`B p 0D0@ p 00@P,$ 0 p s *̙ 0@ ,$0>z P   p  ,$0 p 0P  ,$D 0 @   p <h9 p! *  \Firm A   #p <8  V Sales office     $p <0# `L,$0 EDirect export salesz P  %p  P ,$D 0 &p 0(`` pp B rB 'pB BDԔp xB (pB HLDԔ @ ` lB )pB <DoP@`rB *pB BLDo` +p <+   SF"   ,p <T0,$0 C Identification and evaluation of contractual risk management tools$DCd  -p <50C<* Contractual risk mitigation:*<   .p <;8  ,$0 Q Sales Agent   0p <? ,$0 eLicense agreement 2p 6C< ,$0 PReseller    3p <$G.,$0 R Subsidiary    4p 6Kf. ,$0 U Joint Venture   9p BII0@"!0!0 R1)  :p B,S@"!0!0 R2)  =p BV  @"!0!0 R4)  >p BDZ @"!0!0 R5)  ?p B^@"!0!0 R3)  Bp BTb (  @"!0!0 Rc)  Cp BfY @ @"!0!0 Rb) Dp Bj $ @"!0!0 Va) Ip B$ol$ 0G>!0!0 66)D Kp Hlr<8l$D 0V!0!0 XC-RM$  Lp Bwi`$  U Strategic    H p 0޽h ? ̙33T# ""p,Ft|"(  t t 0@0  > XR t 0L@ @0  t s *@P,$ 0R t s *0 @0 R t s *0 RR t s *` @P t s *0@P,$ 0XR  t 0Z@ z @   t @ ,$0`R  t 0Z@   t <`  @ z  PPp t  ,$0`R t 0 PPp t 6 T  @ z 00@ t 00@,$0  t s *<00@,$D 0 w ,`B t 0D0@ t 00@P,$ 0 t s *̙ 0@ ,$0>z P   t  ,$0 t 0XP  ,$D 0 @   t < 9 p! *  \Firm A   #t <  V Sales office     $t <  O Franchise   %t <t `L,$0 EDirect export sales &t <,$0 C Identification and evaluation of contractual risk management tools$DCd  't <0C<* Contractual risk mitigation:*<   (t <8  ,$0 Q Sales Agent   *t < ,$0 eLicense agreement ,t 6T< ,$0 PReseller    -t <.,$0 R Subsidiary    .t 6ğf. ,$0 U Joint Venture   3t BtȟI0@"!0!0 R1)  4t B̟@"!0!0 R2)  7t BП  @"!0!0 R4)  8t Bԟ @"!0!0 R5)  9t B؟@"!0!0 R3)  t BX $ @"!0!0 Va) Ct Bl$ 0I>!0!0 66)D Et H<8l$D 0V!0!0 XC-RM$  Ft Bi`$  U Strategic    H t 0޽h ? ̙33,( ''5OxT'(  x x 0@0  > XR x 0L@ @0  x s *@P,$ 0R x s *0 @0 R x s *0 RR x s *` @P x s *0@P,$ 0XR  x 0Z@ z @   x @ ,$0`R  x 0Z@   x <$`  @ z  PPp x  ,$0`R x 0 PPp x 6PT  @ z 00@ x 00@,$0  x s *$֟00@,$D 0 w ,`B x 0D0@ x 00@P,$ 0 x s *̙ 0@ ,$0>z P   x  ,$0 x 0P  ,$D 0 @   x <|9 p! *  \Firm A   #x <  V Sales office     $x <  O Franchise   %x <T `L,$0 EDirect export salesz   &x  ,$D 0 'x 00"3 B  (x 0%f   B xB )x HDԔ@ 0  *x <'8p 4JVxB +x HDԔ xB ,x HDԔ lB -x <Do0rB .x BLDo` /x <+ ^  GF c   0x <P0,$0 C Identification and evaluation of contractual risk management tools$DCd  1x <50C<* Contractual risk mitigation:*<   2x <;8  ,$0 Q Sales Agent   4x <$@ ,$0 eLicense agreement 6x 6C< ,$0 PReseller    7x <G.,$0 R Subsidiary     !0!0 66)D Nx H n<8l$D 0W!0!0 XC-RM$  Ox B,si`$  U Strategic    H x 0޽h ? ̙33N# "",F|v"(  | | 0{@0  > XR | 0L@ @0  | s *@P,$ 0R | s *0 @0 R | s *0 RR | s *` @P | s *0@P,$ 0XR  | 0Z@ z @   | @ ,$0`R  | 0Z@   | 6쁠`  @ z  PPp |  ,$0`R | 0 PPp | 6腠T  @ z 00@ | 00@,$0  | s *00@,$D 0 w ,`B | 0D0@ | 00@P,$ 0 | s *̙ 0@ ,$0>z P   |  ,$0 | 0pP  ,$D 0 @   | <89 p! *  \Firm A   #| <P  V Sales office     $| <h  O Franchise   %| < `L,$0 EDirect export sales &| <褠,$0 C Identification and evaluation of contractual risk management tools$DCd  '| <0C<* Contractual risk mitigation:*<   (| <į8  ,$0 Q Sales Agent   *| < ,$0 eLicense agreement ,| 6< ,$0 PReseller    -| <.,$0 R Subsidiary    .| 6|f. ,$0 U Joint Venture   3| B ĠI0@"!0!0 R1)  4| BtȠ@"!0!0 R2)  7| BT̠  @"!0!0 R4)  8| BPŠ @"!0!0 R5)  9| B|Ԡ@"!0!0 R3)  <| Bנ (  @"!0!0 Rc)  =| B,ܠY @ @"!0!0 Rb) >| Bt $ @"!0!0 Va) C| Bޠl$ 0M>!0!0 66)D E| H0<8l$D 0W!0!0 XC-RM$  F| B|i`$  U Strategic    H | 0޽h ? ̙33% Q%I%1J$(    0(@0  > XR  0L@ @0   s *@P,$ 0R  s *0 @0 R  s *0 RR  s *` @P  s *0@P,$ 0XR   0Z@ z @    @ ,$0`R   0Z@    6|`  @ z  PPp    ,$0`R  0 PPp  6$T  @ z 00@  00@,$0   s *00@,$D 0 w ,`B  0D0@  00@P,$ 0  s *̙ 0@ ,$0>z P     ,$0  0PP  ,$D 0 @   <9 p! *  \Firm A   " <  V Sales office     # <  O Franchise   $ < `L,$0 EDirect export sales]z P  %  p,$D 0 & 0"`p B lB ' <DoP`PrB ( BLDorB ) BD>  * <(&Pz ES   + <),$0 C Identification and evaluation of contractual risk management tools$DCd  , </0C<* Contractual risk mitigation:*<   - <38  ,$0 Q Sales Agent   / <H8 ,$0 eLicense agreement 1 6;< ,$0 PReseller    2 6=f. ,$0 U Joint Venture   7 BCI0@o"!0!0 R1)  8 BF@p"!0!0 R2)  ; B|J  @s"!0!0 R4)  < BPN @t"!0!0 R5)  = BhR@u"!0!0 R3)  @ BV (  @x"!0!0 Rc)  A BTZY @ @y"!0!0 Rb) B B\^ $ @z"!0!0 Va) G Bx`l$ 0O>!0!0 66)D I Hd<8l$D 0 W!0!0 XC-RM$  J Bii`$  U Strategic    H  0޽h ? ̙33N# "",Fv"(    0q@0  > XR  0Lf@ @0   s *@P,$ 0R  s *0 @0 R  s *0 RR  s *` @P  s *0@P,$ 0XR   0Z@ z @    @ ,$0`R   0Z@    6,x`  @ z  PPp   ,$0`R  0 PPp  6(|T  @ z 00@  00@,$0   s *X00@,$D 0 w ,`B  0D0@  00@P,$ 0  s *̙ 0@ ,$0>z P     ,$0  0P  ,$D 0 @    <x9 p! *  \Firm A   # <  V Sales office     $ <  O Franchise   % <8 `L,$0 EDirect export sales & <,$0 C Identification and evaluation of contractual risk management tools$DCd  ' <0C<* Contractual risk mitigation:*<   ( <88  ,$0 Q Sales Agent   * <ܪ ,$0 eLicense agreement , 6|< ,$0 PReseller    - <D.,$0 R Subsidiary    . 6䵡f. ,$0 U Joint Venture   3 BI0@Q"!0!0 R1)  4 B<@R"!0!0 R2)  7 B  @U"!0!0 R4)  8 Bš @V"!0!0 R5)  9 Bɡ@W"!0!0 R3)  < B͡ (  @Z"!0!0 Rc)  = B`ѡY @ @["!0!0 Rb) > Bա $ @\"!0!0 Va) C B١l$ 0Q>!0!0 66)D E Hݡ<8l$D 0W!0!0 XC-RM$  F Bi`$  U Strategic    H  0޽h ? ̙33y% % %1L$(    0@0  > XR  0Lf@ @0   s *@P,$ 0R  s *0 @0 R  s *0 RR  s *` @P  s *0@P,$ 0XR   0Z@ z @    @ ,$0`R   0Z@    6`  @ z  PPp   ,$0`R  0 PPp  6T  @ z 00@  00@,$0   s *H00@,$D 0 w ,`B  0D0@  00@P,$ 0  s *̙ 0@ ,$0>z P     ,$0  0P  ,$D 0 @    <\9 p! *  \Firm A   # <t   O Franchise   $ <,  `L,$0 EDirect export salesF @ @  / @@ `2 & 0@  pxB ' HLDo` @` `xB (B HLDo @ ` ) B   GS  fB * 6D>0 0  + <,$0 C Identification and evaluation of contractual risk management tools$DCd  , <0C<* Contractual risk mitigation:*<   - <`"8  ,$0 Q Sales Agent   0 <D& ,$0 eLicense agreement 2 6*< ,$0 PReseller    3 <..,$0 R Subsidiary    4 61f. ,$0 U Joint Venture   9 B5I0@3"!0!0 R1)  : B`9@4"!0!0 R2)  = B >  @7"!0!0 R4)  > B@ @8"!0!0 R5)  ? B4D@9"!0!0 R3)  B BLH (  @<"!0!0 Rc)  C BLY @ @="!0!0 Rb) D BO $ @>"!0!0 Va) I BSl$ 0S>!0!0 66)D K HdW<8l$D 0W!0!0 XC-RM$  L B\i`$  U Strategic    H  0޽h ? ̙339 c9[9\r8(    0e@0  > XR  0Lf@ @0  Y s *@P,$ 0R  s *̙0 @0 R  s *0 RR  s *` @P  s *0@P,$ 0XR  0Z@ z @    @ ,$0`R   0Z@    <l`  @ XR   0 z 00@   00@,$0   s *o00@,$D 0 w ,`B  0D0@  00@P,$ 0  s *̙ 0@ ,$0>z P     ,$0  0zP  ,$D 0 @   <H}9 p! *  \Firm A  F P    P   0؁`` pp B rB B BDԔp xB  B HLDԔ @ ` lB !B <DoP@`rB "B BLDo` # <   SF"  F  j $  j % 0fZj B lB & <DԔ PlB 'B <DԔ@@p ( <̍`T GF b  JF    )    * 0f   B  + <8p   GF b  R , 0@ p 5RrB - BDop lB . <Do@ lB /B <Do@ xB 0 HLDo@ F   1   2 03 B  3 0f   B xB 4 HDԔ@ 0  5 <8p 4JVxB 6 HDԔ xB 7 HDԔ lB 8 <Do0rB 9 BLDo` : <` ^  GF c  F    ;   rB < BDo p  lB = <Do  rB > BDo`rB ? BLDo   @ 0Ȭ3  B  A 6l3Pp GF b   B 0`  B C <  GA F @ @  Z @@ `2 E 0@  pxB F HLDo` @` `xB GB HLDo @ ` H B<   ES  fB I 6D>0 0 {F    J    K 0  B fB L 6Do`  ` fB M 6Do   N <¢ P  J SL"  `B O 0Do  `B P 0Do` 0` )F P  Q  p R 0Ƣ`p B lB S <DoP`PrB T BLDorB U BD>  V <ʢPz ES   W <΢,$0 C Identification and evaluation of contractual risk management tools$DCd  X <|Ӣ0C<* Contractual risk mitigation:*<    _ BڢI0@"!0!0 R1)  ` Bޢ@"!0!0 R2)  c B,  @"!0!0 R4)  d BT @"!0!0 R5)  e B4@"!0!0 R3)  h B (  @"!0!0 Rc)  i BY @ @"!0!0 Rb) j B $ @ "!0!0 Va) o B4l$ 0U>!0!0 66)D q H<8l$D 0W!0!0 XC-RM$  r B\i`$  U Strategic    H  0޽h ? ̙33N# "",Fv"(    0h @0  > XR  0L@ @0  * s *@P,$ 0R  s *̙0 @0 R  s *0 RR  s *` @P  s *0@P,$ 0XR   0Z@ z @    @ ,$0`R   0Z@    6P`  @ z  PPp    ,$0`R  0 PPp  6LT  @ z 00@  00@,$0   s *|00@,$D 0 w ,`B  0D0@  00@P,$ 0  s *̙ 0@ ,$0>z P     ,$0  0"P  ,$D 0 @   <%9 p! *  \Firm A   " <)  V Sales office     # <-  O Franchise   $ <1 `L,$0 EDirect export sales % <4,$0 C Identification and evaluation of contractual risk management tools$DCd  & <D;0C<* Contractual risk mitigation:*<   ' < Bp $ @"!0!0 Va) C Btl$ 0W>!0!0 66)D E Hx<8l$D 0W!0!0 XC-RM$  F B}i`$  U Strategic    H  0޽h ? ̙33T" !!)A|!(  R  s *0 R  s *0 @0 RR  s *` @P  0(  >   0Ȇ@0  > XR  0L@ @0   s *@P,$ 0XR   0Z@ XR   0Z@    60f. ,$0 U Joint Venture R   0 ,$0  6k ,$0 @ z 00@  00@,$0   s *00@,$D 0 w ,`B  0D0@  s *̙ 0@ ,$0>z P     ,$0  0P  ,$D 0 @   <: p" *  \Firm A    <8  ,$0 Q Sales Agent    <0 ,$0 V Sales office       << ,$0 O Franchise   ! 00@P,$ 0 # <` `L,$0 EDirect export sales $ <,$0 C Identification and evaluation of contractual risk management tools$DCd  % <,0C<* Contractual risk mitigation:*<   ' <$ ,$0 eLicense agreement ( 6ģ< ,$0 PReseller    ) <hȣ.,$0 R Subsidiary     . ḄI0@!!0!0 R1)  / Bϣ@!!0!0 R2)  2 Bӣ  @!!0!0 R4)  3 Bأ @!!0!0 R5)  4 Bۣ@!!0!0 R3)  7 Bߣ (  @!!0!0 Rc)  8 BY @ @!!0!0 Rb) 9 B $ @!!0!0 Va) > Bl$ 0Y>!0!0 66)D @ H,<8l$D 0#W!0!0 XC-RM$  A Bi`$  U Strategic    H  0޽h ? ̙33 -%+(  z 00@  00@,$0   s *00@,$D 0 w ,`B  0D0@  00@P,$ 0  s *̙ 0@ ,$0E  0d P ,$0 i- Alternative governance mechanisms for business transactions? - Alternative contractual instruments? jjzX  <,$0 C Identification and evaluation of contractual risk management tools$DCd {  0  #,$D 0 e - Alternative model contracts? - Alternative standard clauses? - Tailored contract clauses?6fTezX  <\#0C<* Contractual risk mitigation:*<     Bx'I0@!!0!0 R1)   B,@!!0!0 R2)   B$0  @!!0!0 R4)   BL4 @!!0!0 R5)   B,8@!!0!0 R3)  ! B < (  @!!0!0 Rc)  " B?Y @ @!!0!0 Rb) # BC $ @!!0!0 Va) ( B,Hl$ 0[>!0!0 66)D * HtK<8l$D 0(W!0!0 XC-RM$  + BPi`$  U Strategic    H  0޽h ? ̙33  @8+(  z 00@  00@,$0   s *XY00@,$D 0 w ,`B  0D0@  00@P,$ 0  s *̙ 0@ ,$0  <b0C<* Contractual risk mitigation:*<    0g=@,$D 0 :- Personal/organizational experience of the viability of the alternatives? - Case law examples of non-viable alternatives? - Law, economics & organization-analyses of the alternatives? - Examples of success stories?(zX  <sb",$D 0 H Prediction and development of the viability of the contractual RM-tools,IHd    ByI0@!!0!0 R1)   B ~@!!0!0 R2)   B  @!!0!0 R4)   B@ @!!0!0 R5)   B@!!0!0 R3)  ! B (  @!!0!0 Rc) " B|Y @ @!!0!0 Vb)  # BĖ $ @!!0!0 Ra) ( B|l$ 0]>!0!0 66)D * H <8l$D 0-W!0!0 XC-RM$  + B袤i`$  U Strategic    H  0޽h ? ̙33  } 4(  z 00@  00@,$0   s *ત00@,$D 0 w ,`B  0D0@  00@P,$ 0  s *̙ 0@ ,$0+  <X,$D 0 Contractual risk allocation0     <08,$D 0 i! Golden rules of risk allocation:"" d/  08¤P 07 ,$D 0 -Golden rules of contractual risk manangement:.. zX  <ˤ|,$D 0 F- don t take larger risks than what you can not bear - don t take large risks to gain little - don t think that others do so dN  0դ% pm,$D 0 l- don t take risks that fall under the influence of your contracting/subcontracting party - don t take large risks just to please your contracting party - don t think others do sozX  <00C<* Contractual risk mitigation:*<    ! BxI0@!!0!0 R1)  " B@!!0!0 R2)  % B|  @!!0!0 R4)  & B @!!0!0 R5)  ' B@!!0!0 R3) * Bl (  @!!0!0 Vc)  + B$Y @ @!!0!0 Rb)  , B< $ @!!0!0 Ra) 1 Bl$ 0_>!0!0 66)D 3 H <8l$D 02W!0!0 XC-RM$  4 Bpi`$  U Strategic    H  0޽h ? ̙33[ 0:4( w 4 4 00@P,$ 0z 00@  4 00@,$0  4 s *`00@,$D 0 w ,`B 4 0D0@ 4 s * 0@`,$0 4 0  ,$0 A Identification of business and risk management strategies Risk identification a) Identification of general risks connected to the business and business transaction b) Identification of legal norms regulating the transaction c) Identification of the risks and risk distribution created by legal norms Risk evaluation Contractual risk mitigation a) Identification and evaluation of contractual risk management tools b) Prediction and development of the viability of the contractual risk management tools c) Contractual risk allocationBS        , % 4 0$ a,$D 0 Monitoring and control of contractual risk management a) Monitoring of changes in legal norms and their distribution of risks b) Monitoring and control of the viability of the contractual risk management45N       ,   %4 BRI0@a!!0!0 R1)  &4 BHV@b!!0!0 R2)  )4 BY  @e!!0!0 R4) *4 Bx] @f!!0!0 V5)  +4 Bha@g!!0!0 R3)  .4 BXe (  @j!!0!0 Rc)  /4 BHiY @ @k!!0!0 Rb)  04 B8m $ @l!!0!0 Ra)  14 B(q9$ @m!!0!0 Rc)  24 Bu@n!!0!0 Rb)  34 ByP  7@o!!0!0 Ra) 44 <|p,$0 |CONTRACTUAL RISK MANAGEMENT: , 54 <h,$0 { STRATEGIC*   , 74 Bl$ 0a>!0!0 66)D 94 H<8l$D 07W!0!0 XC-RM$  :4 B(i`$  U Strategic    H 4 0޽h ? ̙33b  @@d(  |<G dz 00@ d 00@,$0 d s *00@,$D 0  (,`B d 0D0@ d 00@P,$ 0 d s *̙ 0@`,$0 d <l8,$D 0 #I Monitoring of changes in the legal norms and their distribution of risks,JI  _ "d <|0* 5Monitoring and control of contractual risk managment:*65p   %d B̸Dl$D 0!0!0 3CISG-database at PACE http://www.cisg.law.pace.edu/*4,!  &d B @ l$D 0!0!0 DTransnational Commercial Law-database at CENTRAL http://www.tldb.de/*E1$ / 'd Bť <l$D 0!0!0 +Lex mercatoria http://www.lexmercatoria.com*,$ N (d <˥0`,$D 0 VWhat s new in transnational commercial law?,,   -d B\ХI0@C!!0!0 R1)  .d BΥ@D!!0!0 R2)  1d Bӥ  @G!!0!0 R4)  2d B֥ @H!!0!0 R5)  3d Bڥ@I!!0!0 R3)  4d Bޥp W@J!!0!0 Rb) 5d B  @K!!0!0 Va) =d B`l$ 0c>!0!0 66)D ?d H4<8l$D 0Are there any new contractual risk management tools available??? $p Bl;4l$D 0!0!0 !GNational Contract Management Association (NCMA) http://www.ncmahq.org/NH/h  %p B e l$D 0!0!0 INational Center for Preventive Law (NCPL) http://www.preventivelawyer.org,J* N   ,p B&I0@%!!0!0 R1)  -p B*@&!!0!0 R2)  0p Bx.  @)!!0!0 R4)  1p B2 @*!!0!0 R5)  2p B6@+!!0!0 R3)  3p B|:p W@,!!0!0 Rb) 4p B\>  @-!!0!0 Va) !0!0 66)D >p HE<8l$D 0AW!0!0 XC-RM$  ?p B@Ji`$  U Strategic    H p 0޽h ? ̙33  ?7`,$(  $z 00@ $ 00@,$0 $ s *LR00@,$D 0  (,`B $ 0D0@ $ 00@P,$ 0 $ s *̙ 0@`,$0 $ <\_0F,$D 0 e/Did the contract function in an unexpected way?00 $ <!0!0 66)D +$ H<8l$D 0FW!0!0 XC-RM$  ,$ B`i`$  U Strategic    H $ 0޽h ? ̙33:" !!pB8b!( w 8z 00@ 8 00@,$0 8 s *00@,$D 0  (,`B 8 0D0@ 8 00@P,$ 0 8 0<V,$0 t Identification of business and risk management strategies Risk identification a) Identification of general risks connected to the business and business transaction b) Identification of legal norms regulating the transaction c) Identification of the risks and risk distribution created by legal norms Risk evaluation Contractual risk mitigation a) Identification and evaluation of contractual risk management tools b) Prediction and development of the viability of the contractual risk management tools c) Contractual risk allocation Monitoring and control of contractual risk management a) Monitoring of changes in legal norms and their distribution of risks b) Monitoring and control of the viability of the contractual risk managementS9x               ,  8 0`,$D 0 G Development of business and risk management strategies and proceduresHHJ ,XLXB 8 0D0@  +8 B\I0@ !0!0 R1)  ,8 B@ !0!0 R2)  /8 B  @ !0!0 R4)  08 BH @ !0!0 R5)  18 B@ !0!0 R3)  28 Bp W@ !0!0 Rb)  38 B  @ !0!0 Ra)  48 B$ (  @ !0!0 Rc)  58 B<Y @ @ !0!0 Rb)  68 BT $ @ !0!0 Ra)  78 B 9$ @ !0!0 Rc)  88 B@ !0!0 Rb)  98 BP  7@ !0!0 Ra) <8 <pp,$0 |CONTRACTUAL RISK MANAGEMENT: , =8 <x,$0 { STRATEGIC*   ,  ?8 B(l$ 0i>!0!0 :6)3D A8 Ht,<8l$D 0KW!0!0 XC-RM$  B8 B/i`$  U Strategic    H 8 0޽h ? ̙33  me6l( w lz 00@ l 00@,$0 l s *;00@,$D 0  (,`B l 0D0@ l 00@P,$ 0 l s *̙0@,$ 0 l <A?B,$D 0 Can contractual risk management support company s business according to its strategies?XX l < FU<,$D 0 ^(According to risk management strategies?)) l <LJ  ,$D 0 b,If not, should these strategies be reviewed?--3 l <MI!,$D 0 [What has the contractual risk management to offer for the development of these strategies?\\  l <Q,P 6Development of business and risk management strategies770  #l BDWI0@ !0!0 R1)  $l B$[@ !0!0 R2)  'l BS  @ !0!0 R4)  (l B] @ !0!0 R5)  )l Ba@ !0!0 R3) 3l Bel$ 0k>!0!0 66)D 5l Hn<8l$D 0PW!0!0 XC-RM$  6l Bsi`$  U Strategic    H l 0޽h ? ̙33   | & (  z 00@  00@,$0  s *\{00@,$D 0  (,`B  0D0@  00@P,$ 0  0̅,$0  _ Identification of business and risk management strategies Risk identification a) Identification of general risks connected to the business and business transaction b) Identification of legal norms regulating the transaction c) Identification of the risks and risk distribution created by legal norms Risk evaluation Contractual risk mitigation a) Identification and evaluation of contractual risk management tools b) Prediction and development of the viability of the contractual risk management tools c) Contractual risk allocation Monitoring and control of contractual risk management a) Monitoring of changes in legal norms and their distribution of risks b) Monitoring and control of the viability of the contractual risk management Development of business and risk management strategies and procedures`S8H               ,    BȎI0@ !0!0 R1)   B蒧@ !0!0 R2)   B  @s !0!0 R4)   B @t !0!0 R5)   B@ !0!0 R3)   Bħp W@ !0!0 Rb)   Bȧ  @ !0!0 Ra)   B|̧ (  @ !0!0 Rc)   BЧY @ @ !0!0 Rb)   Bԧ $ @ !0!0 Ra)   Bا9$ @ !0!0 Rc)   B@ܧ@ !0!0 Rb)   B`P  7@ !0!0 Ra)  <p,$0 |CONTRACTUAL RISK MANAGEMENT: , ! <`,$0 { STRATEGIC*   , # B(l$ 0m>!0!0 66)D % HH<8l$D 0UW!0!0 XC-RM$  & Bi`$  U Strategic    H  0޽h ? ̙33 '(  X  0, ,$D  0 * Development of strategies and procedures++J  ,  08 ,$D  0 7 Monitoring and control of contractual risk management88v   ,)  0T  ,$D  0  Contractual risk mitigation(  ,  0t',$D 0  Risk evaluation  ,  01,$D 0  Risk identification,!z 00@  00@,$D 0#  0:00@,$D 0  (,lB   <D0@   00@P,$D 02   <E ,$0  RISK MANAGEMENT::333 ,%   <O1 ,$D 0 THEORY OF CONTRACTUAL*33 ,h   0pY0,$D 0  Identification of strategies"!X ,8  BeI0l$D 0!0!0 R1)8  Bjl$D 0!0!0 R2)  B|nl$D  0!0!0 66)8  Bl$D 0KA!0!0 \C RM(   s *,P fThe end    c $ 1@[!0!0H  0޽h ? ̙33-!     '  (  D  0,$0 , Development of strategies and procedures--0 ,   0 ,$ 0 7 Monitoring and control of contractual risk management88v   ,)  0x  ,$ 0  Contractual risk mitigation(  ,  0,$0  Risk evaluation  ,  0,$0  Risk identification,z 00@  00@,$0  s *d00@,$D 0  (,`B   0D0@   00@P,$0   <p,$0 |CONTRACTUAL RISK MANAGEMENT: ,U   00,$0 # Identification of strategies"$">,    s *0@,$D  0  s * 0@`,$D 0  s * 0@ ,$D 0  s *0@,$D 0  s *0@,$D 0  s *0@`,$D 08  BI0l$0r>!0!0 R1)8  Bl$0>!0!0 R2)  Bl$ 0>!0!0 66)8  B  l$0>!0!0 R4)8  BP l$ 0>!0!0 R5)8  Bl$0>!0!0 R3)'  <,$D 0  OPERATIVE6   ,d  0\ I0,$D 0 *contractual risk management and procedures++N   , 7  0p,$D 0 contractual risk management0  , T  HZGHy ,$D  0 JThe abbreviation functions as a link to the beginning of the presentationBK & " BD GH. @P ,$D  0 The numbers also function as navigation links to the beginning of the section and as memory notes to the content of the section (point them by your mouse) ^* <l 0i, 'i0,,$D  0L ! H(0,l$D 0@!0!0 XC-RM$  % H-0i  a Operative     H  0޽h ?/ " ̙33*  "F(  z 00@  00@,$0  s *600@,$D 0  (,`B  0D0@  00@P,$ 0  s *0@`,$0   0`A,,$0 iM Identification of contractual risk management strategies and proceduresNNJ  ,  <LFp,$0 |CONTRACTUAL RISK MANAGEMENT: ,  <X,$0 w OPERATIVE&   ,<  BPcI0l$0>!0!0 V1)38  Bgl$0>!0!0 R2)  Bkl$ 0>!0!0 66)8  Bo  l$0>!0!0 R4)8  B8s l$ 0>!0!0 R5)8  Btwl$0>!0!0 R3)D ! Hl{0,l$D 0VW!0!0 XC-RM$  " Hi0  a Operative     H  0޽h ? ̙331  !Y(  z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  00@P,$ 0  s *0@`,$0D  0 $,$D 0 xWhat is the company s contractual risk management strategy?==   0  ,$D 0 KIf such strategies and procedures do not exist, how should they be formed?LL/   0d ,$D 0 cWhat goals do these strategies and procedures set for the operational contractual risk management?ddo   <؟j  GIdentification of contractual risk management strategies and proceduresHH~  J   0`T,$D 0 ~What are the company s contractual risk management procedures?@@8  BpI0l$0>!0!0 R1)8  Bl$0>!0!0 R2)  Bdl$ 0>!0!0 66)8  B  l$0>!0!0 R4)8  B l$ 0>!0!0 R5)8  Bl$0>!0!0 R3)>   BH0,l$D 0XW!0!0 XC-RM$  ! Bi0  a Operative     H  0޽h ? ̙33o  (  z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  00@P,$ 0  0,,$0 qM Identification of contractual risk management strategies and proceduresVN*  ,M  0`~,$D 0 Risk identification a) Identification of risks connected to the business transaction b) Identification of legal norms regulating the transaction c) Identification of risks and risk distribution created by legal norms>f     ,  s *0@,$0  <Lp,$0 |CONTRACTUAL RISK MANAGEMENT: ,  <,$0 w OPERATIVE&   ,8  B I0l$0>!0!0 R1)<  Bl$0>!0!0 V2)3  B0l$ 0>!0!0 66)8  BP  l$0>!0!0 R4)8  B l$ 0>!0!0 R5)8  Bll$0>!0!0 R3)>  B!0,l$D 0ZW!0!0 XC-RM$    Bt&i0  a Operative     H  0޽h ? ̙33j  ) (      00@P,$ 0   <H.0,$D 0 ? Identification of risks connected to the business transaction,@>~   z 00@   00@,$0   s *600@,$D 0  (,`B   0D0@   s *0@,$0)   0AP0@7,$D 0 ) General risks connected to the business:6*(   <dL0x * Risk identification:*.r   0@P`0@ ,$D 0 1) Financial risks (currency risk and risk of buyer s insolvency, etc.) 2) Political risks (risk of change in legislation, etc.) 3) Risk of interruption 4) Risk of dependency 5) Product risk          BP_$@nA!0!0 Rc)    B4c@jA!0!0 Rb)   BgP  7@PA!0!0 Va)8   BTkI0l$0>!0!0 R1)8   BX1l$0>!0!0 R2)   Bdrl$ 0>!0!0 66)8 !  Bv  l$0?!0!0 R4)8 "  B8z l$ 0?!0!0 R5)8 #  Bxl$0?!0!0 R3)> (  B0,l$D 0\W!0!0 XC-RM$  )  Bi0  a Operative     H   0޽h ? ̙33 !1(    00@P,$ 0  <0,$0 ? Identification of risks connected to the business transaction$@>~   z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  s *0@,$0g  0x4,$D 0 cRisks connected to the coordination of the different parts of a transnational business transaction:dd?d   <ԫ0x * Risk identification:*."   s *f@,$D 0   6 P  ,$D 0 GTBT  "   s *fP @,$D  0"   0 L$D  0p5!0"  s *̙p ,$D  0B  6DԔ@p ,$D 0B  6DԔ 1 ,$D 0B @ 6DԔ@! ,$D 0B  6DԔ P ,$D 0/  6` l$D  0q5!0!0 U Transport C 2    000*,$D  0 a Finance C 2   0@P,$D 0 QSales C 2   0 P ,$D 0 c Insurance C 2  8 # BI0l$0 ?!0!0 R1)8 $ B<l$0 ?!0!0 R2) % Bl$ 0 ?!0!0 66)8 & B  l$0?!0!0 R4)8 ' B l$ 0?!0!0 R5)8 ( Bl$0?!0!0 R3) + BP  7@QA!0!0 Va)  , B$@oA!0!0 Rc)  - B@pA!0!0 Rb)> 0 B0,l$D 0^W!0!0 XC-RM$  1 Bi0  a Operative     H  0޽h ? ̙33f!    #3 (    00@P,$ 0  <$0,$0 ? Identification of risks connected to the business transaction$@>~   z 00@  00@,$0  s *$00@,$D 0  (,`B  0D0@  s *0@,$0g  0H 4,$0 cRisks connected to the coordination of the different parts of a transnational business transaction:dd?d   <0x * Risk identification:*."   s *f@,$0"   s *fP @,$ 0"   0 L$ 0|5!0"   s *̙p ,$ 0/  6  l$ 0}5!0!0 U Transport C 2    0l!00*,$ 0 a Finance C 2   0$P,$0 QSales C 2   0(P ,$0 c Insurance C 2  4F 0   P B  6DԔ@ ,$D 0B  6DԔ0p00 ,$D 0B  6DԔ,$D 0k  <, 1 ,$D 0 3 INCO TERMS, The 1982 Institute Cargo Clauses4 4V   6%!2 0 ,$D 0 eINCOTERMS, COMBITERMS ( 2   070 ,$D 0 pPayment modalities ( 28 % B:I0l$0?!0!0 R1)8 & B|>l$0?!0!0 R2) ' BTCl$ 0?!0!0 66)8 ( B G  l$0?!0!0 R4)8 ) BJ l$ 0?!0!0 R5)8 * B\Nl$0?!0!0 R3) - B8RP  7@SA!0!0 Va)  . BU$@sA!0!0 Rc)  / BY@tA!0!0 Rb)> 2 B^0,l$D 0`W!0!0 XC-RM$  3 Bai0  a Operative     H  0޽h ? ̙33  D < #3(    00@P,$ 0  <i0,$0 ? Identification of risks connected to the business transaction$@>~   z 00@  00@,$0  s *xq00@,$D 0  (,`B  0D0@  s *0@,$0  <L{0x * Risk identification:*.M   <xy4 ,$D 0 Q Risks connected to the coordination of the central parts of a sales transaction:*RQdB   6DԔp  ,$D  0B   6DԔ @ ,$D  0B  @ 6DԔP,$D 0   0 ,$D 0 k Payment terms ( 2  0,$D 0 lDelivery terms ( 2(  0(p`p,$D 0 Spesifications for the goods ( 24 B  6DԔP ,$D 0P  0ܘ ` ,$D  0 *Mechanism for the adaption of the contract +( 2+N  B  <DԔ    ,$D  0B  <DԔ  ,$D 0B  BZDԔ @ @,$D  0B  BZDԔ ` ``,$D 0 z  0 p   0 p ,$D 0"  s *f 0 p ,$0  04# ,$0 QSales C 2 8 % BI0l$0'?!0!0 R1)8 & Bl$0(?!0!0 R2) ' Bl$ 0)?!0!0 66)8 ( BP  l$0*?!0!0 R4)8 ) B, l$ 0+?!0!0 R5)8 * Bl$0,?!0!0 R3) - BP  7@UA!0!0 Va)  . B\$@wA!0!0 Rc)  / Bh@xA!0!0 Rb)> 2 B$0,l$D 0bW!0!0 XC-RM$  3 B i0  a Operative     H  0޽h ? ̙33% d%\%0)9$(    00@P,$ 0  <0,$0 ? Identification of risks connected to the business transaction$@>~   z 00@  00@,$0  s *h00@,$D 0  (,`B  0D0@  s *0@,$0,  <y`,$D 0 2 Risks connected to a single business transaction:(32d   <0x * Risk identification:*.Q   6P< ,$D  0 'Risk for damage to or loss of the goods((2(N     6< P@ ,$D 0 {Risk for changing circumstances (2     6@,$D 0 Risk for contractual disputes(2& ,   64 PD ,$D 0 Risk for delayed performance(24    6@@P ,$D 0 tRisk for non-performance(2  3  6< },$D  0 #Risk for non-conforming performance$(2$4   F  0 p   0 p "  s *f 0 p ,$0  0 # ,$0 QSales C 2   6w,$D 0 lInformation risk(2   6P,$D 0 lNegotiation risk(2   6 t ,$D 0 Risk for product liability(2& zB @ S o@p,$D 0zB  S o p ,$D  0zB  S o 0@ ,$D  0zB  S o  ,$D  0zB  S o ` ,$D 0B  s *o  ,$D 0zB @ S o0@0 ,$D 0zB @ S o` 0p ,$D 0zB  S o p,$D 08 + B)I0l$05?!0!0 R1)8 , B,l$06?!0!0 R2) - B0l$ 07?!0!0 66)8 . B4  l$08?!0!0 R4)8 / B|9 l$ 09?!0!0 R5)8 0 B>l$0:?!0!0 R3) 3 BBP  7@WA!0!0 Va)  4 BF$@{A!0!0 Rc)  5 BJ@|A!0!0 Rb)> 8 B(H0,l$D 0dW!0!0 XC-RM$  9 BRi0  a Operative     H  0޽h ? ̙333 .3&3@AQ 2(   F  0 p    0 p "   s *f 0 p ,$0   0Z# ,$0 QSales C 2    00@P,$ 0   <?0,$0 ? Identification of risks connected to the business transaction$@>~   z 00@   00@,$0   s *e00@,$D 0  (,`B   0D0@   s *0@,$0$   <py`l`,$D 0 * Need for contractual allocation of risks?(+*d   <y0x * Risk identification:*.M   6p< ,$ 0 'Risk for damage to or loss of the goods((2(N     6< P@ ,$ 0 wRisk for changing circumstances (2     6@,$ 0 Risk for contractual disputes(2& (   6 PD ,$0 Risk for delayed performance(24      6 @@P ,$0 pRisk for non-performance(2  /   68< },$0 #Risk for non-conforming performance$(2$4      6Tw,$0 hInformation risk(2    6P,$0 hNegotiation risk(2    60t ,$ 0 ~Risk for product liability(2& zB   S o  ,$ 0zB   S o ` ,$0B   s *o  ,$0zB   S o p,$0zB  @ S o@p,$0zB   S o p ,$ 0zB   S o 0@ ,$ 0zB  @ S o0@0 ,$0zB  @ S o` 0p ,$0hz p    p ,$D 0B   S o ,$ 0B !  S o ` ,$0B "  s *o ,$0B #  S o p,$0B $ B S o@p,$0B %  S o p ,$ 0B &  S o0 @ ,$ 0B ' B S o0@0 ,$0B ( B S o0` p ,$0hz p  )  p ,$D 0B *  S o ,$ 0B +  S o ` ,$0B ,  s *o ,$0B -  S o p,$0B . B S o@p,$0B /  S o p ,$ 0B 0  S o0 @ ,$ 0B 1 B S o0@0 ,$0B 2 B S o0` p ,$0 z 8 P  3  8 P ,$D 0" 4  c $f8 P ,$D 0 5  6  ,$D 0 MI S C(2  6  6  ,$D 0 c 1 2 3 4 5 6 2 8 C  BDI0l$0C?!0!0 R1)8 D  B0l$0D?!0!0 R2) E  Bl$ 0E?!0!0 66)8 F  B  l$0F?!0!0 R4)8 G  B l$ 0G?!0!0 R5)8 H  Bl$0H?!0!0 R3) K  BP  7@YA!0!0 Va)  L  B$@A!0!0 Rc)  M  B@A!0!0 Rb)> P  B0,l$D 0fW!0!0 XC-RM$  Q  Bi0  a Operative     H   0޽h ? ̙33  F>PY$(  $ $ 00@P,$ 0 $ < 0t,$D 0 : Identification of legal norms regulating the transaction,;9d  z 00@ $ 00@,$0 $ s *00@,$D 0  (,`B $ 0D0@ $ s *0@,$0  $ <0y * Risk identification:.8 H$ BI0l$0Q?!0!0 R1)8 I$ Bll$0R?!0!0 R2) J$ Bl$ 0S?!0!0 66)8 K$ BH   l$0T?!0!0 R4)8 L$ BL l$ 0U?!0!0 R5)8 M$ B(l$0V?!0!0 R3)  P$ BP  7@[A!0!0 Ra)  Q$ B$@A!0!0 Rc) R$ B| @A!0!0 Vb)3 U$ <d$2  ,$D 0 t&What to look for? Where to look for?''d> X$ B|-0,l$D 0hW!0!0 XC-RM$  Y$ B2i0  a Operative     H $ 0޽h ? ̙33C8  77`GJk7(    00@P,$ 0  <D;0n,$0 3M Identification of legal norms regulating the transaction: what legal norms?8N9   z 00@  00@,$0  s *D00@,$D 0  (,`B  0D0@  s *0@,$0  6N$ ,$D 0 u1BUILDING BLOCKS OF TRANSNATIONAL SALES CONTRACTS,(21   6?F [ ,$D 0 VMATERIAL FOR INTREPETATION    6$WF ,$D 0 aand MATERIAL FOR GAP-FILLING:(ff   <[0y * Risk identification:.   0_p0V ,$D  0 PStandard contract clauses   0  MStandard contract terms  6o : *,$D 0 MTailored contract terms  0@q` ,$D 0 f4Interpretation guidelines of the contract standards55h  #  @ ,$0  6xp u ,$D 0 ILaw of the contractf  6(w&`,$D  0 DLEX MERCATORIAf  6#,$D 0 8CISGf  6P&0 d ,$D  0 PPECL, UPICC & CENTRAL TLDBf  6 P \*,$D 0 A ORDRE PUBLICfB  <Dfo P ,$D 0B  <Dfo  ,$D 0B @ <DfoP @0 ,$D 0B   BDoP p,$D 0B ! <Dfo ,$D  0B " <Dfo ,$D! 0B # <Do 0 0 ,$D 0B $ <Do ` ,$D 0B % <DoP @ ,$D 0B & <Do` P ,$D 0B '@ <Do  ,$D 0B (@ <Do` ,$D 0wz  ) ,$D  0H * C 7<H + C 7a@{rH , C 7v$< - # P . 6h. KContracting standardsB / <Dop P p ,$D 0B 0 <Dfo ,$D 0Tz `   1  @ @ ,$D 0  2 BiCbDEdF>   VVVX\_bbWbZb]_]\] c g i iigc @      ``   3 B CDE,Fͤ  @   ` 33 k 4 B C DEDF$ͤ      @     `  , 5 BiCbDEdF>7   VVVX\_bbWbZb]_]\] c g i iigc @      ``   6 B C DE8F 7        @     3 kBB 7 3 7 kl 8 BC DEF7   @    9 BCDE F7 @    O  : 6  ` \ ,$D 0 A?$00B ; <Dfo ,$D 08 < B8I0l$0=F!0!0 R1)8 = Btl$0>F!0!0 R2) > Bll$ 0?F!0!0 66)8 ? B@  l$0@F!0!0 R4)8 @ B l$ 0AF!0!0 R5)8 A Bl$0BF!0!0 R3)  C BP  7@DF!0!0 Ra)  D B$@EF!0!0 Rc) E B@FF!0!0 Vb)3 F 6p@ ,$D 0 KTraditional approach:> I B|0,l$D 0jW!0!0 XC-RM$  J Bi0  a Operative     H  0޽h ? ̙33# -#%#p%M("(  ( ( 00@P,$ 0 ( <0z * Risk identification:(.z 00@ ( 00@,$0 ( s *00@,$D 0  (,`B ( 0D0@ ( s *0@,$08 *( BI0l$0_?!0!0 R1)8 +( Bl$0`?!0!0 R2) ,( Bpl$ 0a?!0!0 66)8 -( B  l$0b?!0!0 R4)8 .( Bl l$ 0c?!0!0 R5)8 /( Bl$0d?!0!0 R3)  2( B P  7@]A!0!0 Ra)  3( B$$@A!0!0 Rc) 4( B<@A!0!0 Vb)3 7( <T0n,$0 3M Identification of legal norms regulating the transaction: what legal norms?8N9    8( 6@| ,$D 0 D RM approach:  3 9( 6 pb ,$D  0 3STANDARD CONTRACTUAL NORMS (optional default norms)44&    :( 6P`,$D 0 y-TYPES OF LEGAL NORMS REGULATING THE CONTRACT..ff . z `   ;( Pp ,$D 0  <( BiCbDEdF>   VVVX\_bbWbZb]_]\] c g i iigc @      ``   =( B CDE,F  @   ` 33 k >( B C DEDF$      @     `  > ?(  BiCbDEdF>7   VVVX\_bbWbZb]_]\] c g i iigc @      ``   @(  B C DE8F 7        @     3 kNB A( S 7 kl B(  BC DEF7   @    C(  BCDE F7 @    O  D( 6pp< ,$D  0 hINDIVIDUAL CONTRACTUAL NORMS   E( 6h! V ,$D 0 lDEFAULT LEGAL NORMS(  B F( s *D) ,$D 0B G( s *D) 0 ,$D 0B H( s *D)  ,$D 0 I( 6& ,$D 0 bMANDATORY LEGAL NORMS!  > L( Bl+0,l$D 0lW!0!0 XC-RM$  M( Bh/i0  a Operative     H ( 0޽h ? ̙33& k&c&(< %(      00@P,$ 0   <70z * Risk identification:(.z 00@   00@,$0   s *D=00@,$D 0  (,`B   0D0@   s *0@,$08   BGI0l$0J!0!0 R1)8   BKl$0J!0!0 R2)   BlOl$ 0J!0!0 66)8   BS  l$0J!0!0 R4)8   BhW l$ 0 J!0!0 R5)8   BZl$0!J!0!0 R3)    BNP  7@#J!0!0 Ra)    B]$@$J!0!0 Rc)   Bla@%J!0!0 Vb)3   <@j0n,$0 3M Identification of legal norms regulating the transaction: what legal norms?8N9      6q@| ,$0 D RM approach:  3 %  6pu pb ,$D 0 3STANDARD CONTRACTUAL NORMS (optional default norms)44&    &  6lzP`,$D 0 y-TYPES OF LEGAL NORMS REGULATING THE CONTRACT..ff . z `   '  Pp ,$D 0  (  BiCbDEdF>   VVVX\_bbWbZb]_]\] c g i iigc @      ``   )  B CDE,F  @   ` 33 k *  B C DEDF$      @     `  > +   BiCbDEdF>7   VVVX\_bbWbZb]_]\] c g i iigc @      ``   ,   B C DE8F 7        @     3 kNB -  S 7 kl .   BC DEF7   @    /   BCDE F7 @    O  0  6pp< ,$D 0 hINDIVIDUAL CONTRACTUAL NORMS   1  6ȁ  @ ,$0 lDEFAULT LEGAL NORMS(  B 2  s *D) ,$D 0B 3  s *D) 0 ,$D 0B 4  s *D)  ,$D 0 5  6 ,$D 0 bMANDATORY LEGAL NORMS!  , 6  6h 6 ,$D 0  Unavoidable default legal norms4!    n 7  6\ 0 ,$D 0 6Alternative sets of default legal norms (legal orders),7 ___,___N       B 8  0D)  ,$D 0> ;  BT0,l$D 0nW!0!0 XC-RM$  <  Bi0  a Operative     H   0޽h ? ̙33h8 87D,7(  ,z 00@ , 00@,$0 , s *00@,$D 0  (,`B , 0D0@ , 00@P,$ 0 , s *0@,$0  , <԰0z * Risk identification:(.8 D, BI0l$0m?!0!0 R1)8 E, Bl$0n?!0!0 R2) F, BԿl$ 0o?!0!0 66)8 G, B  l$0p?!0!0 R4)8 H, Bp l$ 0q?!0!0 R5)8 I, Bl$0r?!0!0 R3)  L, BP  7@_A!0!0 Ra)  M, B $@A!0!0 Rc) N, B@A!0!0 Vb)3 O, <0n,$0 3M Identification of legal norms regulating the transaction: what legal norms?8N9    P, 6D@| ,$D 0 B RM approach:  Q, 0p0V ,$D  0 RStandard contract clauses  R, 0|R,$D 0 NInternational trade usage  S, 0y ,$D 0 m9Established usages and/or practices between the parties: :=z `   T, `   ,$D  0H U, C 7g`  H V, C 70 G H W, C 7   X, <p7 p>  OStandard contract terms  Y, 6 : *,$D 0 OTailored contract terms  Z, 0$` ,$D  0 l4Interpretation guidelines of the contract standards5 5h [, #  @ ,$0 \, 6lp u ,$D 0 GLaw of the contract  ], 6t&`,$D 0 BLEX MERCATORIA  ^, 6#,$D 0 jCISG &J!0x _, 6&0 d ,$D  0 PECL, UPICC & CENTRAL TLDB 'J!0(J!0 )J!0 `, 6P \*,$D 0 C ORDRE PUBLIC !B a, <Do P ,$D  0B b, <Do  ,$D  0B c,@ <D!oP @0 ,$D 0B d, <Do ,$D  0B e, <Do ,$D 0B f, <Do 0 0 ,$D 0B g, <D3o ` ,$D 0B h, <D3oP @ ,$D 0B i, <D3o` P ,$D 0B j,@ <Do  ,$D 0B k,@ <Do` ,$D 0@ l, C 37<@ m, C 37@a{r@ n, C 37v$ o, <lh. MContracting standards B p, <D3op P p ,$D 0B q, <Do ,$D  0Tz `   r,  @ @ ,$0  s, BiCbDEdF>   VVVX\_bbWbZb]_]\] c g i iigc @      ``   t, B CDE,Fͤ  @   ` 33 k u, B C DEDF$ͤ      @     `  , v, BiCbDEdF>7   VVVX\_bbWbZb]_]\] c g i iigc @      ``   w, B C DE8F 7        @     3 kBB x, 3 7 kl y, BC DEF7   @    z, BCDE F7 @    O  {, 6x! ` \ ,$D 0 C?& 00B |, <Do ,$D  0 }, 6l&,$D 0 fSTANDARD CONTRACTUAL NORMS3   ~, 6`*LP ,$D 0 bMANDATORY LEGAL NORMS,!   , 6-Pp,$D 0 ~" and INDIVIDUAL CONTRACTUAL NORMS:,#f" #  , 61L @ ,$D 0 lDEFAULT LEGAL NORMS,(  > , B 60,l$D 0pW!0!0 XC-RM$  , B:i0  a Operative     H , 0޽h ? ̙33  K(  z 00@  00@,$0  s *PC00@,$D 0  (,`B  0D0@  00@P,$ 0  s *0@,$08 8 BMI0l$03F!0!0 R1)8 9 BQl$04F!0!0 R2) : BUl$ 05F!0!0 66)8 ; BY  l$06F!0!0 R4)8 < B] l$ 07F!0!0 R5)8 = Bpal$08F!0!0 R3)  ? BeP  7@:F!0!0 Ra)  @ Bi$@;F!0!0 Rc) A Btm@ J B0,l$D 0rW!0!0 XC-RM$  K Bؙi0  a Operative     H  0޽h ? ̙33S  %0{(  0 0 00@P,$ 0 0 <0j,$D 0 F Identification of risks and risk distribution created by legal norms,GEVz 00@ 0 00@,$0 0 s *l00@,$D 0  (,`B 0 0D0@ 0 s *0@,$0 0 <@0y * Risk identification:.8 0 BI0l$0{?!0!0 R1)8 0 Bl$0|?!0!0 R2) 0 Bl$ 0}?!0!0 66)8 0 Bx  l$0~?!0!0 R4)8 0 B` l$ 0?!0!0 R5)8 0 BLl$0?!0!0 R3)  0 BlP  7@aA!0!0 Ra) 0 B$@A!0!0 Vc)3   0 B@A!0!0 Rb) !0 04 ,$D 0 'What is the default legal distribution of the risks to the business transaction according to: - the standard contracting documents of the firm? - the offer received by the firm? - the reply received by the firm? Are contract-specific investments adequately protected? Do the legal norms give adequate protection against the opportunistic behaviour of the contracting party? Do legal norms create risks of their own?*zd> $0 B0,l$D 0tW!0!0 XC-RM$  %0 Bpi0  a Operative     H 0 0޽h ? ̙33 '4*(  4z 00@ 4 00@,$0 4 s *00@,$D 0  (,`B 4 0D0@ 4 00@P,$ 0| 4 0 ,$0 6 Identification of contractual risk management strategies and procedures Risk identification a) Identification of risks connected to the business transaction b) Identification of legal norms regulating the transaction c) Identification of the risks and risk distribution created by legal norms~7A     , - 4 08,$D 0 Risk evaluation&" ,XL 4 s *0@,$0 4 <p,$0 |CONTRACTUAL RISK MANAGEMENT: , 4 <l(,$0 w OPERATIVE&   ,8 4 B2I0l$0?!0!0 R1)8 4 B6l$0?!0!0 R2) 4 Bt:l$ 0?!0!0 66)8 4 B+  l$0?!0!0 R4)8 4 B(B l$ 0?!0!0 R5)< 4 B@Fl$0?!0!0 V3)3  !4 BEP  7@eA!0!0 Ra)  "4 BM$@A!0!0 Rc)  #4 BR@A!0!0 Rb)> &4 BXV0,l$D 0vW!0!0 XC-RM$  '4 BZi0  a Operative     H 4 0޽h ? ̙33$  Q$I$2H8#(  8z 00@ 8 00@,$0 8 s *0c00@,$D 0  (,`B 8 0D0@ 8 s *0@,$0 8 00@P,$ 0 8 <dm ! oRisk evaluation" H 8 0Hrp ,$D 0 bThe goal is to allocate risk management resources with help of determination of the risk exposurecczdz     8   ,$D 0`  8 0  `  8 0 @  `  8 0@  `  8 0   8 <|    HExtent of the risk 8 <   !Insignificant Great Catastrofical""z @  8  @ ,$D 0` 8 0@ ` 8 0 ` 8 0 ` 8 0  8 0p P E Li k e l y h. 8 0 [ Unlikely Likely Very likely|    0 P0 0  8#  ,$D 0` 8 0P0 ` 8 0 0  ` 8 00 0 ` 8 0  ` 8 0P ` 8 0 0 ` 8 0 0 ` 8 0  `  8 0P  !8 0ę @ ,$D 0 11 "8 0 @  ,$D 0 12 #8 0Ƞ  ,$D  0 13 $8 0 @ ,$D  0 14 %8 0 @ ,$D 0 12 &8 0X ,$D  0 16 '8 0,,$D 0 19 (8 0@ ,$D  0 16 )8 0Է @ ,$D  0 13L *8 08p P,$D 0 XRisk exposure is determined as a multiple of the likelihood of the risk and its extent:*YXzd8 :8 BI0l$0?!0!0 R1)8 ;8 B l$0?!0!0 R2) <8 B\l$ 0?!0!0 66)8 =8 B  l$0?!0!0 R4)8 >8 B l$ 0?!0!0 R5)8 ?8 Bl$0?!0!0 R3)> G8 B0,l$D 0xW!0!0 XC-RM$  H8 Bi0  a Operative     H 8 0޽h ? ̙33) j)b)9O<((  <z 00@ < 00@,$0 < s *00@,$D 0  (,`B < 0D0@ < s *0@,$0 < 00@P,$ 0 < 0lp ,$D 0 Determination of the likelihood and extent of risks connected to contracts is often difficult and a three-way classification might be sufficient:*zd < 0 @ ,$0 11  < 0̙ @ ,$D  0 3IIIX  < 0 @ X  < 0 @  X  < 0  X  < 0 @ X < 0 @ X < 0 X < 0X < 0@ X < 0 @  < 0  @  ,$0 12 < 0  ,$ 0 13 < 0  @ ,$ 0 14 < 0 @ ,$0 12 < 0  ,$ 0 16 < 0X,$ 0 19 < 0 @ ,$ 0 16 < 0 @ ,$0 13 < 0t#f @  ,$D 0 2II < 0&  ,$D 0 1I < 0*f @ ,$D 0 2II < 0`.̙ @ ,$D  0 3III < 042 ,$D 0 1I  < 06,$D 0 1I !< 09@ ,$D 0 1I "< 0=f @ ,$D 0 2II #< <A ! oRisk evaluation" F    $<   ` %< 0  ` &< 0 @  ` '< 0@  ` (< 0   )< <E    HExtent of the risk *< <J   !Insignificant Great Catastrofical""z @  +<  @ ,$0` ,< 0@ ` -< 0 ` .< 0 ` /< 0  0< 0Tp P E Li k e l i h. 1< 0X [ Unlikely Likely Very likely|    8 A< B(`I0l$0?!0!0 R1)8 B< Bdl$0?!0!0 R2) C< Bhl$ 0?!0!0 66)8 D< Bdl  l$0?!0!0 R4)8 E< Bp l$ 0?!0!0 R5)8 F< Btl$0?!0!0 R3)> N< Bx0,l$D 0zW!0!0 XC-RM$  O< B}i0  a Operative     H < 0޽h ? ̙33}. . .;Q@-(  @z 00@ @ 00@,$0 @ s *00@,$D 0  (,`B @ 0D0@ @ s *0@,$0 @ 00@P,$ 0 @ 0 ,$D 0 FAllocation of resources of the company s legal department based on a similar classification could be highly cost-efficient{{zd @ <$ ! oRisk evaluation" 3  @ 0p @,$D 0 E I Preventive law II Preventive law & remedial law III Remedial law(FE  @ 0 @ ,$0 11  @ 0t̙ @ ,$ 0 3III  @ 0 @ ,$0  @ 0 @  ,$0 @ 0  ,$0 @ 0 @ ,$0 @ 0 @ ,$0 @ 0 ,$0 @ 0,$0 @ 0@ ,$0 @ 0 @ ,$0 @ 0̳ @  ,$0 12 @ 0  ,$ 0 13 @ 0 @ ,$ 0 14 @ 0 @ ,$0 12 @ 0< ,$ 0 16 @ 0,$ 0 19 @ 0@ ,$ 0 16 @ 0T @ ,$0 13 @ 0Xf @  ,$0 2II @ 0,  ,$0 1I @ 0f @ ,$0 2II  @ 0̙ @ ,$ 0 3III !@ 0 ,$0 1I "@ 0|,$0 1I #@ 0P@ ,$0 1I $@ 0$f @ ,$0 2IIF    %@   ` &@ 0  ` '@ 0 @  ` (@ 0@  ` )@ 0   *@ <    HExtent of the risk +@ <(   !Insignificant Great Catastrofical""z @  ,@  @ ,$0` -@ 0@ ` .@ 0 ` /@ 0 ` 0@ 0  1@ 0p P E Li k e l i h. 2@ 0 [ Unlikely Likely Very likely|    ? 3@ 0 < ,$D 0 YThe resources would then be allocated according to and in relation to the risk exposure:ZZzd8 C@ BI0l$0?!0!0 R1)8 D@ B0l$0?!0!0 R2) E@ Bl$ 0?!0!0 66)8 F@ B  l$0?!0!0 R4)8 G@ B# l$ 0?!0!0 R5)8 H@ Bh'l$0?!0!0 R3)> P@ B+0,l$D 0|W!0!0 XC-RM$  Q@ BL0i0  a Operative     H @ 0޽h ? ̙33" ,DJ(  Dz 00@ D 00@,$0 D s *800@,$D 0  (,`B D 0D0@ D 00@P,$ 0 D 0B,$0 L Identification of contractual risk management strategies and procedures Risk identification a) Identification of risks connected to the business transaction b) Identification of legal norms regulating the transaction c) Identification of the risks and risk distribution created by legal norms Risk evaluationMB      , $ D 0a ` ,$D 0  Contractual risk mitigation a) Identification and evaluation of contractual risk management tools b) Prediction and development of the viability of the contractual risk management tools c) Contractual risk allocation24      ,X6 D s * 0@ ,$0 D <lp,$0 |CONTRACTUAL RISK MANAGEMENT: , D <u,$0 w OPERATIVE&   ,8 D BlI0l$0?!0!0 R1)8 D Bl$0?!0!0 R2) D Bl$ 0?!0!0 66)< D B  l$0?!0!0 V4)38 D BА l$ 0?!0!0 R5)8  D B l$0?!0!0 R3)  &D B8P  7@3B!0!0 Ra)  'D B$@4B!0!0 Rc)  (D BĠ@5B!0!0 Rb)> +D B0,l$D 0~W!0!0 XC-RM$  ,D Bi0  a Operative     H D 0޽h ? ̙33  H@*H(  Hz 00@ H 00@,$0  H s *00@,$D 0 w ,`B H 0D0@ H 00@P,$ 0 H s * 0@ ,$0$ H <0 f,$D 0  Golden advices::p H 0@P ,$D 0 ^- predict eventual contractual problems and agree on meaningful governance mechanisms for the contract and the contractual relationship - remember cost effectiveness considering negotiating, designing, monitoring and enforcement of contracts - protect contract-specific investments - remember to build exits - prepare for contractual disputes_-_* f  v  H <X0C<* Contractual risk mitigation:*<    H B$ (  @A!0!0 Rc)  H BY @ @A!0!0 Rb)  H B  $ @A!0!0 Ra)8 H B|I0l$0?!0!0 R1)8 H Bl$0?!0!0 R2) H Bl$ 0?!0!0 66)8 H BX  l$0?!0!0 R4)8  H B\ l$ 0?!0!0 R5)8 !H Bl$0?!0!0 R3)> )H B0,l$D 0W!0!0 XC-RM$  *H Bi0  a Operative     H H 0޽h ? ̙33  .6(  z 00@  00@,$0   s *$00@,$D 0 w ,`B  0D0@  00@P,$ 0  s * 0@ ,$0  < ,$0 C Identification and evaluation of contractual risk management tools$DCd _   00O ,$D 0 a- Alternative model contracts? - Alternative standard clauses? - Tailored contract clauses?8b TzX   <h0C<* Contractual risk mitigation:*<  8  Bp"I0l$0?!0!0 R1)8  B&l$0?!0!0 R2)  Bp+l$ 0?!0!0 66)8   B/  l$0?!0!0 R4)8 ! B2 l$ 0?!0!0 R5)8 " B6l$0?!0!0 R3)  ( B4 (  @A!0!0 Rc)  ) B ?Y @ @A!0!0 Rb) * B,C $ @A!0!0 Va)3> - BG0,l$D 0W!0!0 XC-RM$  . BLi0  a Operative     H  0޽h ? ̙33  "0-(  z 00@  00@,$0   s *U00@,$D 0 w ,`B  0D0@  00@P,$ 0  s * 0@ ,$0  <^0C<* Contractual risk mitigation:*<    0d=@,$D 0 :- Personal/organizational experience of the viability of the alternatives? - Case law examples of non-viable alternatives? - Law, economics & organization-analyses of the alternatives? - Examples of success stories?(zX   <pb",$D 0 H Prediction and development of the viability of the contractual RM-tools,IHd 8  BvI0l$0@!0!0 R1)8  B<{l$0@!0!0 R2)  Bl$ 0 @!0!0 66)8  B  l$0 @!0!0 R4)8   Bt l$ 0 @!0!0 R5)8 ! BDl$0 @!0!0 R3)  ' B0 (  @A!0!0 Rc) ( BY @ @A!0!0 Vb)3  ) B $ @A!0!0 Ra)> , Bl0,l$D 0W!0!0 XC-RM$  - Bxi0  a Operative     H  0޽h ? ̙33  NF@-(  z 00@  00@,$0   s * 00@,$D 0 w ,`B  0D0@  00@P,$ 0  s * 0@ ,$0+  <p,$D 0 Contractual risk allocation0     <и08,$D 0 i! Golden rules of risk allocation:"" d    0hP 07 ,$D 0 x,Golden rules of contractual risk management:--zX   <@|,$D 0 F- don t take larger risks than what you can not bear - don t take large risks to gain little - don t think that others do so dX   0% pm,$D 0 v- don t take risks that fall under the influence of your contracting/subcontracting party - don t take large risks just to please your contracting party - don t think that others do sozX   <ls0C<* Contractual risk mitigation:*<  8  B`I0l$0@!0!0 R1)8   Bl$0@!0!0 R2) ! Bl$ 0@!0!0 66)8 " B  l$0@!0!0 R4)8 # B l$ 0@!0!0 R5)8 $ Bl$0@!0!0 R3) ' B@ (  @B!0!0 Vc)3  ( BlY @ @B!0!0 Rb)  ) B $ @B!0!0 Ra)> , B 0,l$D 0W!0!0 XC-RM$  - BH i0  a Operative     H  0޽h ? ̙33*!   P/R (    00@P,$ 0z 00@  00@,$0   s *00@,$D 0 w ,`B  0D0@  s * 0@`,$0  0\  ,$0 ?5 Identification of contractual risk management strategies and procedures Risk identification a) Identification of risks connected to the business transaction b) Identification of legal norms regulating the transaction c) Identification of the risks and risk distribution created by legal norms Risk evaluation Contractual risk mitigation a) Identification and evaluation of contractual risk management tools b) Prediction and development of the viability of the contractual risk management tools c) Contractual risk allocation6A          ,   0! a,$D 0 >zMonitoring and control of contractual risk management a) Monitoring the transaction and it s legal regulation b) Monitoring and control of the viability of the contractual risk management45N      ,   <(p,$0 |CONTRACTUAL RISK MANAGEMENT: ,  <(],$0 w OPERATIVE&   ,8  BgI0l$0#@!0!0 R1)8  Bkl$0$@!0!0 R2)   Bol$ 0%@!0!0 66)8 ! BDs  l$0&@!0!0 R4)< " Blw l$ 0'@!0!0 V5)38 # B{l$0(@!0!0 R3)  & BP  7@A!0!0 Ra)  ' B$@A!0!0 Rc)  ( B`@A!0!0 Rb)  ) B (  @ B!0!0 Rc)  * BY @ @ B!0!0 Rb)  + Bd $ @ B!0!0 Ra)> . B0,l$D 0W!0!0 XC-RM$  / B|i0  a Operative     H  0޽h ? ̙33I  `2q(  z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  00@P,$ 0  s * 0@`,$0  <,$D 0 j Monitoring the transaction and it s legal regulation,65d  `  <40* 6Monitoring and control of contractual risk management:*76p     <,0,$D 0 SMonitoring the transaction:8 ! B|I0l$01@!0!0 R1)8 " Bdl$02@!0!0 R2) # BPl$ 03@!0!0 66)8 $ Bp  l$04@!0!0 R4)8 % B l$ 05@!0!0 R5)8 & Bl$06@!0!0 R3)  ) Bp W@)B!0!0 Rb)f * <,$D 0 Is the transaction being executed according to the firm s expectations?HH- + 0 &0 ,$D 0 aAre there any overhanging risks for the transaction not being executed according to the contract?bbM , 0 p,$D 0 Are there any actions that should be taken to prevent such risks from materializing? - renegotiations? - substitute transactions?. - 0  ,$D 0 bAre there any overhanging risks for the economic outcome of the transaction not being as excepted?cc . B  @1F!0!0 Va)3> 1 B$0,l$D 0W!0!0 XC-RM$  2 BLi0  a Operative     H  0޽h ? ̙33  p16(  z 00@  00@,$0  s *$00@,$D 0  (,`B  0D0@  00@P,$ 0  s * 0@`,$0`  <X 0* 6Monitoring and control of contractual risk management:*76p    <h,$0 j Monitoring the transaction and it s legal regulation$65d      <0T,$D 0 i3Monitoring the legal regulation of the transaction:44   BTAl$D 07!0!0 -aHas the legal regulation concerning the transaction been changed? - by legislator? - by case law?,ba|*8   Bd%I0l$0?@!0!0 R1)8 ! B)l$0@@!0!0 R2) " B-l$ 0A@!0!0 66)8 # BP1  l$0B@!0!0 R4)8 $ B,5 l$ 0C@!0!0 R5)8 % BP,l$0D@!0!0 R3)  ) Bt7p W@'B!0!0 Rb) * BAi 6FP l$D 09B!0!0 Are such changes overhanging?,H  i + 6HF D`= l$D 0;B!0!0 MWhat are the consequences of such changes for the outcome of the transaction?,NM     , 60OppWl$D 0=B!0!0 .Can those consequences be avoided or remedied?,/.V - BlU  @/F!0!0 Va)3> 0 BTY0,l$D 0W!0!0 XC-RM$  1 Bh]i0  a Operative     H  0޽h ? ̙33{   2(  z 00@  00@,$0  s *e00@,$D 0  (,`B  0D0@  00@P,$ 0  s * 0@`,$0  <hpy L`,$D 0 OMonitoring and control:`   <t0* 6Monitoring and control of contractual risk management:*76p     <0z x,$D 0 JMonitoring and control of the viability of the contractual risk management*KJ~    Bp W@&B!0!0 Vb)8 ! BtI0l$0M@!0!0 R1)8 " B,l$0N@!0!0 R2) # Bl$ 0O@!0!0 66)8 $ B  l$0P@!0!0 R4)8 % B l$ 0Q@!0!0 R5)8 & Bܙl$0R@!0!0 R3) + <ĝ,$D 0 z&- before entering into the transaction8' , < t ,$D 0 }) - after the execution of the transaction8*" - <0 4 ,$D 0 })- during the execution of the transaction8*"  . B  @-F!0!0 Ra)> 1 B0,l$D 0W!0!0 XC-RM$  2 Bȵi0  a Operative     H  0޽h ? ̙33  F>(  z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  00@P,$ 0  s * 0@`,$0   0P L@,$D 0 KAre the contractual risk management strategy and procedures being followed?LL`   <0* 6Monitoring and control of contractual risk management:*76p     < x,$0 JMonitoring and control of the viability of the contractual risk management"KJ~     Bp W@?B!0!0 Vb)8  B<I0l$0@B!0!0 R1)8  Bl$0AB!0!0 R2)  Bdl$ 0BB!0!0 66)8  B  l$0CB!0!0 R4)8  B l$ 0DB!0!0 R5)8  BLl$0EB!0!0 R3)C  0d @$ ,$D 0 wHas the planned transaction risks that have not been managed by the contractual risk management strategy or procedures?xx0  <,$D 0 <Monitoring and control before entering into the transaction:8=   0  ,$D 0 `(Can such risks be managed contractually?))   B\  @+F!0!0 Ra)>  B0,l$D 0W!0!0 XC-RM$   B0 i0  a Operative     H  0޽h ? ̙33   A(   z 00@   00@,$0   s *"00@,$D 0  (,`B   0D0@   00@P,$ 0   s * 0@`,$0/   <0- L,$D 0 7What can be done to manage the unexpected riskposition?88*    0\ߐ` ,$D 0 KAre the contractual risk management strategy and procedures being followed?LL`   <0* 6Monitoring and control of contractual risk management:*76p     < x,$0 JMonitoring and control of the viability of the contractual risk management"KJ~     B:p W@HB!0!0 Vb)8   BI0l$0IB!0!0 R1)8   B|l$0JB!0!0 R2)   BLl$ 0KB!0!0 66)8   B8<  l$0LB!0!0 R4)8   Bp l$ 0MB!0!0 R5)8   BHtl$0NB!0!0 R3)F   <p \ ,$D 0 NHas the company s riskposition changed?((  3   <)H,$D 0 ?Monitoring and control during the execution of the transaction:8@#"   0A ,$D 0 VIs that strategy and procedures able to manage that risks involved in the transaction?WW    BtE  @)F!0!0 Ra)>   BPI0,l$D 0W!0!0 XC-RM$    BLi0  a Operative     H   0޽h ? ̙33'  O(  z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  00@P,$ 0  s * 0@`,$0  <"y0` ,$D 0 e/Did the contract function in an unexpected way?00  <'  ,$D 0 PWhy did the contract fail?   <H+ L ,$D 0 |FWere the contractual risk management strategy and procedures followed?GG`   <(/0* 6Monitoring and control of contractual risk management:*76p     <\4 x,$0 JMonitoring and control of the viability of the contractual risk management"KJ~     B<p W@QB!0!0 Vb)8  B@I0l$0RB!0!0 R1)8  BX=l$0SB!0!0 R2)  BHl$ 0TB!0!0 66)8  B4L  l$0UB!0!0 R4)8  BP l$ 0VB!0!0 R5)8  BTl$0WB!0!0 R3)D  <WP 7,$D 0 LDid the company s riskposition change?''  2  <$\,$D 0 >Monitoring and control after the execution of the transaction:8?#`  <$al,$D 0 hDid the transaction fulfill the firm s expectations?55   Be  @'F!0!0 Ra)>  Bi0,l$D 0W!0!0 XC-RM$   Bni0  a Operative     H  0޽h ? ̙33E& %%4m%(  z 00@  00@,$0  s *v00@,$D 0  (,`B  0D0@  00@P,$ 0  0XV,$0  Identification of contractual risk management strategies and procedures Risk identification a) Identification of risks connected to the business transaction b) Identification of legal norms regulating the transaction c) Identification of the risks and risk distribution created by legal norms Risk evaluation Contractual risk mitigation a) Identification and evaluation of contractual risk management tools b) Prediction and development of the viability of the contractual risk management tools c) Contractual risk allocation Monitoring and control of contractual risk management a) Monitoring the transaction and it s legal regulation b) Monitoring and control of the viability of the contractual risk managementA9                ,   04`,$D 0 F Development of contractual risk management strategies and proceduresGGd  ,XLXB  0D0@  <p,$0 |CONTRACTUAL RISK MANAGEMENT: ,  < ,$0 w OPERATIVE&   ,8   BI0l$0[@!0!0 R1)8 ! Bl$0\@!0!0 R2)  " B4l$ 0]@!0!0 :6)38 # B  l$0^@!0!0 R4)8 $ B l$ 0_@!0!0 R5)8 % BXl$0`@!0!0 R3)  ( BP  7@A!0!0 Ra)  ) B$@A!0!0 Rc)  * B@A!0!0 Rb)  + B (  @B!0!0 Rc)  , BhY @ @B!0!0 Rb)  - B< $ @B!0!0 Ra)  / Bp W@,B!0!0 Rb)  0 B$  @%F!0!0 Ra)> 3 B0,l$D 0W!0!0 XC-RM$  4 Bi0  a Operative     H  0޽h ? ̙33  +F(  z 00@  00@,$0  s *00@,$D 0  (,`B  0D0@  00@P,$ 0  s *0@,$ 0  <@?B,$D 0 Can contractual risk management support company s business according to its strategies?XX  <U<,$D 0 ^(According to risk management strategies?))+   <D" \I ,$D 0 SIf not, should the contractual risk management strategy or procedures be reviewed?TTH   <\',$D 0 pWhat has the operative contractual risk management to offer for the development of that strategy or procedures?qq9   <*04 EDevelopment of business and risk management strategies and proceduresFFJ 8   B.I0l$0i@!0!0 R1)8 ! B 4l$0j@!0!0 R2) " Bh8l$ 0k@!0!0 66)8 # B;  l$0l@!0!0 R4)8 $ B? l$ 0m@!0!0 R5)8 % BCl$0n@!0!0 R3)> * B|G0,l$D 0W!0!0 XC-RM$  + BKi0  a Operative     H  0޽h ? ̙33% y%q%1 %(  z 00@  00@,$0  s * S00@,$D 0  (,`B  0D0@  00@P,$ 0  0d^V,$0  Identification of contractual risk management strategies and procedures Risk identification a) Identification of risks connected to the business transaction b) Identification of legal norms regulating the transaction c) Identification of the risks and risk distribution created by legal norms Risk evaluation Contractual risk mitigation a) Identification and evaluation of contractual risk management tools b) Prediction and development of the viability of the contractual risk management tools c) Contractual risk allocation Monitoring and control of contractual risk management a) Monitoring the transaction and it s legal regulation b) Monitoring and control of the viability of the contractual risk managementA9                ,   0x``,$0 F Development of contractual risk management strategies and proceduresGGd  ,XL  <p,$0 |CONTRACTUAL RISK MANAGEMENT: ,  <,$0 { OPERATIVE* 3 3 ,8  BI0l$0w@!0!0 R1)8  Bdl$0x@!0!0 R2)   BDl$ 0y@!0!0 66)8 ! Bȱ  l$0z@!0!0 R4)8 " B l$ 0{@!0!0 R5)8 # Bl$0|@!0!0 R3)  & BP  7@A!0!0 Ra)  ' B$@A!0!0 Rc)  ( B@A!0!0 Rb)  ) B (  @B!0!0 Rc)  * BY @ @B!0!0 Rb)  + B $ @B!0!0 Ra)  , BL  @$F!0!0 Ra)  - Blp W@0B!0!0 Rb)> 0 B0,l$D 0W!0!0 XC-RM$  1 BPi0  a Operative     H  0޽h ? ̙33 $(  $ $ s * <P fThe end  X $ 0c,$D  0 * Development of strategies and procedures++J  , $ 0p ,$D  0 7 Monitoring and control of contractual risk management88v   ,) $ 0L  ,$D  0  Contractual risk mitigation(  , $ 0 ,$D 0  Risk evaluation  , $ 0,$D 0  Risk identification,!z 00@ $ 00@,$D 0# $ 0L00@,$D 0  (,lB  $ <D0@  $ 00@P,$D 0h  $ 0(0,$D 0  Identification of strategies"!X ,8  $ B3I0l$D 0!0!0 R1)8  $ B`8l$D 0!0!0 R2) $ B(<l$D  0!0!0 66)8 $ B#  l$D 0!0!0 R4)8 $ BHB l$D  0!0!0 R5)8 $ BFl$D 0!0!0 R3)gz @PP $ @P,$0 $ 6$K@P0  Go to Strategic C-RM 4  $ 0O0 PP iGo to Operative C-RM  $ s *̙ p [!0 $ s * 0 [!0B $ BHW>l$D 0[!0!0 \C RM( 2 $ <D\ ,$0  RISK MANAGEMENT::333 ,% $ <Dg1 ,$D 0 THEORY OF CONTRACTUAL*33 , $ c $ 1@[!0!0H $ 0޽h ? ̙33 H"(  H H <ts,$D 0 LPower Point-show available at: www.jus.uit.no/ansatte/keskitalo/CRM-TSC.pps,M.P(  V H <s ~ ,$D 0 (Comments to: petri.keskitalo@jus.uit.no,) > H H 0޽h ? ̙33 0( x H  0޽h ? ̙33n0 0,(  ^  S 6&   #  c $#n ..J  # "H  0Pesؕ ? ̙33r@OX0 `k | uT6! b Q!p+ c w ~ A|M G 1K i (1Ghǎrt  f5 G] y  < __ v  PkV + @%b[ nA`Ύ0&h [ Ư =  > d @ A /?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqstuvwxy{|}~                           ! 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