|
| |
Legislative & Regulatory Updates
Incoterms® 2010
A new version of Incoterms, which are used in international sales
contracts to define risk of loss and delivery obligations, was launched by
the International Chamber of Commerce
in September, 2010 and took effect on January 1, 2011.
UCP 600-ICC New Rules on Documentary Credits
For more than 70 years, the International Chamber of Commerce has established
the rules governing documentary letters of credits worldwide. The ICC's revised
rules, UCP 600, were unanimously approved by
the ICC Banking Commission on October 25, 2006, and will enter into force on
July 1, 2007.
Singapore Treaty on the Law of Trademarks
On March 27, 2006 the 146 WIPO Member States (including the United States)
adopted by consensus the Singapore Treaty on the Law of Trademarks. The Treaty
went into effect on March 16, 2009. The United States is a contracting party. The Singapore Treaty makes significant changes
to the types of registerable marks, communications, recording of licenses, and
procedural relief.
Anti-Counterfeiting Trade
Agreement
The Anti-Counterfeiting Trade Agreement, which is designed to counteract
copyright piracy and trademark counterfeiting, and to strengthen copyright and
trademark protection enforcement, was entered into October 1, 2011, by United
States, Australia, Canada, Korea, Japan, New Zealand, Morocco and Singapore,
with the EU, Mexico and Switzerland likely to follow. The proliferation of counterfeit and pirated goods in
international trade has posed an ever-increasing threat to the sustainable
development of the world economy and the ACTA is designed to respond to this
threat.
| |
|
