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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, will be launched by
the International Chamber of Commerce
in September, 2010 and will take 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 entered 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 will enter into force once it has
been ratified by ten eligible States or intergovernmental organizations. 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 is being negotiated by a dozen
governments to more effectively counteract trademark counterfeiting and enforce
trademark protection. 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.
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