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Commercial Dispute Resolution: The International Approach

Considering some facts regarding disputes in the International Trade arena. Most of the time parties in international trade develop all kind of businesses without primary concern of a potential conflict between them. Some of these parties do business with the other for a first time; others have a long time relationship. Types of businesses are […]

Freedom of Contract in International Carriage Contracts. What about Ecuador ?

The Doctrine of Freedom of Contract also known as “Laissez Faire” is the basis for international carriage contracts, according to Common Law. In Ecuador there are some considerations according tThe Consumers Act The Doctrine of Freedom of Contract also known as “Laissez Faire” is the common law and civil law basis for international carriage contracts. […]

Documentary Credit in International Trade

Documentary credits law depends on the principle of autonomy or independence of the credit and the doctrine of strict compliance. The principle of autonomy protects the beneficiary (exporter) while the doctrine of strict compliance protects the issuing bank and the applicant (importer). According to the World Trade Organization, Some 80% to 90% of world trade […]

Builders’ Risks and Marine Insurance

The process of building a vessel or a floating object involves a series of risks. Both the entity who orders the construction and the shipyard are exposed to considerable losses if a casualty takes place. Accidents can occur at any of the construction phases involving people and property and also affecting the environment. These events […]

Ecuador: International sources of Shipping law

Ecuador is party to several international conventions. Some of them are now mentioned. Basically, in 2012 Ecuador ratified the accession to the United Nations Convention on the Laws of the Sea (UNCLOS 1982), also known as the Constitution for the seas. As for the named four pillars of maritime law regulation, Ecuador is party to […]

SAS Corporations in the Ecuador Arena

A new type of corporation has been introduced in the Ecuador law which seeks to provide reduction of incorporation time and facilitate agreements between shareholders. It is likely that many companies would decide to switch to this new system. With the enactment of the Entrepreneurship and Innovation Act by publication in the Official Register of […]