B0029 - INTERNATIONAL TRANSPORT AND DOCUMENTARY CREDIT LAW

Learning outcomes

The aim of the course is to introduce students to the laws that govern international transport of goods and financing of trade operations, with a specific focus on documentary credit, and to provide students with a critical knowledge of the issues that operators meet daily. The course has a cross-disciplinary approach, since it will deal with public law, international law and contract law topics. In particular, on the one hand, the transport sector is deeply regulated, at the international, EU and domestic levels; on the other, carriage contracts of goods and documentary credit are relevant examples of the role that international organizations and associations play in setting the parties’ rights and obligations with model contracts and clauses. Through the interactive discussion of leading cases and the exam of standard forms and clauses developed by the relevant international actors, at the end of the course students know the basic principles that govern transports and documentary credit, are able to understand the impact of the international and EU regulation and to apply the knowledge and expertise achieved during the course in real-life contexts, taking into consideration also the other contracts involved in international trade and the legal risks actually faced by operators in different scenarios.

Course contents

The course explores the legal issues arising from the international carriage of goods and the financing of cross-border commercial transactions. It provides students with the legal and practical tools required to understand how international sales contracts, contracts of carriage and documentary payment mechanisms interact within global supply chains. Particular attention is devoted to the allocation of risks and responsibilities among the parties involved in international trade, as well as to the role of transport documents in facilitating the circulation of goods and international payments.

The course covers the following topics:

1. Sources and legal framework of international transport law;
2. International contracts of carriage and transport services;
3. Transport documents, bills of lading and electronic transport records;
4. International sales contracts and the ICC Incoterms® Rules;
5. Payment methods in international trade;
6. Documentary credits, including the UCP 600, the autonomy principle and the examination of documents;
7. Digitalisation of international trade, including eUCP, blockchain, smart contracts and artificial intelligence;
8. Practical case studies on international transport and documentary credit transactions.

Throughout the course, legal principles will be examined alongside commercial practice, with particular emphasis on the interpretation of international standard rules, contractual clauses and documentary procedures. The analysis of practical cases will enable students to develop a critical understanding of the legal issues encountered in contemporary international trade and transport operations.

Readings/Bibliography

Textbooks

• B. Soyer – A. Tettenborn, International Trade and Carriage of Goods, Routledge, latest edition.
• J. Chuah, Law of International Trade: Cross-Border Commercial Transactions, Sweet & Maxwell, latest edition.
• P. Todd, Bills of Lading and Bankers’ Documentary Credits, Informa Law from Routledge, latest edition.

Primary Sources

• ICC, Incoterms® 2020.
• ICC, Uniform Customs and Practice for Documentary Credits (UCP 600).
• ICC, eUCP Version 2.1 (or latest version, where applicable).
• ICC, International Standard Banking Practice (ISBP 821).
• UNCITRAL, Model Law on Electronic Transferable Records (MLETR).

Additional Reading

• V. Power, EU Shipping Law, Informa Law from Routledge, latest edition.
• A. Rogers, J. Chuah, M. Dockray, Cases and Materials on the Carriage of Goods by Sea, Routledge, latest edition.

Teaching methods

The course will combine lectures with an interactive and practice-oriented teaching approach. Fundamental legal principles will be introduced through the analysis of legislation, international conventions, standard contractual clauses and leading case law, encouraging students to actively participate in classroom discussions. Particular emphasis will be placed on the practical application of legal concepts through the examination of commercial documents, transport documents and documentary credit transactions.

Students will be encouraged to develop critical reasoning by discussing practical examples drawn from international trade and transport practice. Contemporary developments, including digitalisation and emerging technologies affecting international transport and trade finance, will also be integrated into classroom activities. Supporting materials and references will be made available throughout the course to facilitate individual study and class preparation.

Assessment methods

The assessment consists of an oral examination designed to evaluate students’ understanding of the legal principles governing international transport and documentary credit transactions, as well as their ability to analyse and discuss legal issues using appropriate legal terminology.

Students who have regularly attended the course (at least 60% of the lectures) will begin the examination with a discussion of a topic selected from those covered during the course, followed by two questions on other parts of the syllabus. Non-attending students will be examined on the entire programme through three questions covering different areas of the course.

Assessment will take into account the student’s knowledge and understanding of the subject, analytical and critical reasoning skills, ability to establish connections between different topics, and the use of accurate legal language.

The final mark will be awarded according to the following criteria:

• 18–21: sufficient knowledge of the basic concepts and legal framework, with an acceptable level of understanding and use of legal terminology.
• 22–25: satisfactory knowledge of the course contents, with good analytical skills and an appropriate command of legal language, although with some limitations in depth or accuracy.
• 26–29: very good knowledge of the subject, demonstrating sound analytical and critical reasoning, the ability to connect different legal issues, and confident use of legal terminology.
• 30–30 cum laude: excellent and comprehensive knowledge of the entire programme, outstanding analytical and critical skills, the ability to develop well-reasoned legal arguments and make interdisciplinary connections, together with precise and effective use of legal language.

Teaching tools

Power point presentations and teaching materials, which will be uploaded on the 'Virtuale' platform, multimedia tools for interactive and dynamic teaching, books and papers meant to deepen some topics of the course.

Further technological materials, deemed useful to teaching purposes, could be used.

Disabled Students or with specific learning disabilities (SLD) needing compensatory tools, may inform the professors about their needs in order to be addressed to the School’s specific Services and agree on suitable measures.

Office hours

See the website of Carlo Corcione