Important documents and organizations which regulate trade.

• GATT – The General Agreement on Tariffs and Trade has been operating since 194 ciples which include consultation among members and the reduction of tariffs thrc

• OPEC – The Organisation of Petroleum Exporting Countries was established in 19i the world oil supply and price.

• NAFTA – The North American Free Trade Agreement came into effect in 1994, invc and Mexico. It created the largest free trade zone, involving about 370 million peop South American economies.

• EU – The European Union is a big and powerful 138espect138tion. It was established inRome to regulate and promote trade between the founder countries: Belgium Germany, the Netherlands and Luxembourg. The United Kingdom joined in 1973. T by the Single Market which aimed at removing:

• administrative barriers to trade

• controls on the flow of capital

• abuse of market power and aimed at stablishing:

• free movement of labour

• free movement of goods

• common technical standards

• parity of professional qualifications

Other documents and policies include:

• SAD (Single Administrative Document), which has simplified border formalities a moving goods throughout the Union.

• CAP (Common Agricultural Policy), which provides subsidies to EU farmers and s< petitiveness with the rest of the world.

• CET (Common External Tariff), most imports from countries outside the Union

• EEA Agreement (European Economic Area Agreement) signed in 1992.

Other important institutions which aim at regulating activities within the EU are:

• EIB (European Investment Bank), which grants loans to Member States. It raises fun kets and aims to finance EU projects which promote integration through:

• European Monetary Institute, which has the task of co-ordinating monetary policies of central member states and to help them for the introduction of the single European currency

• European System of Central Banks), made up of the European Central Bank in Frankfurt and the national Central Bank) of the Member States, including the Bank of England for the UK and a for Italy. “Euro system” is the term used to refer to the ECB and the NCBs of the Member have adopted the Euro. The NCBs of the Member States which are not yet part of the Euro, IK, are members of the ESCB with a special status. They are allowed to conduct their 139espect-monetary policies but cannot take part in the decision-making process regarding the single licy for the euro area and the implementation of decisions. The countries that have adopt-nust appoint an Executive Board composed of six members, including a president, for an m. The board forms the Governing Council with euro national central bank governors.

3. General Conditions of Delivery

   1. Read the text.

1. Basis and volume of delivery

1.1. When sea transportation, deliveries are made on FOB terms Seaport of the Sellers country and:

a)The Sellers shall bear all charges for the goods FOB port, stowed, including cost of sea packing, marking, separation and fastening materials, dock and port dues, cranage and customs duties, cost of transfer of the cargo on the pier, loading on board the ship, loading and stowing into the hold as well as extra loading charges, if any;

b) the title to the goods as well as, the risk of accidental loss or damage to the goods shall pass from the Sellers to the Buyers after the goods have been loaded and stowed into the hold;

c) the date of Clean on Board Bill of Lading is to be considered as the date of delivery.

1.2. When railway transportation, deliveries are made Free on rail the frontier of the Sellers' country, and:

a) The Sellers shall bear all the transportation charges to the State frontier of their country; the subsequent charges for trans­portation, and/or change of railway carriage wheels shall be borne by the Buyers;

the title to goods as well as the risk of accidental loss or damage to the goods shall pass from the Sellers to the Buyers since the moment when the goods have been handed over by the railway of the Seller's country to the railway of the Buyers' country or the transit country railway;

the date stamped on the Railway Bill by the frontier station which has received the goods from the railway of the Sellers country confirming the crossing the frontier to be considered as the date of delivery.

1.3. hen motor transportation deliveries are made free Place of loading the goods on transportation facilities of the Buyers, and:

The Sellers shall bear the transportation charges till the Point where the goods are loaded on the Buyers' transportation facilities;

the title to the goods as well as the risk of accidental loss or damage to the goods shall pass from the Sellers to the 3uyers since the moment the goods have been transferred from the Sellers' transportation facili­ties to the Buyers' transporta­tion facilities; the date of delivery is the date of the document confirming the goods by the Buyers' transportation facilities.

General Conditions of Delivery

1.4. When air conveyance, deliveries shall be made Free on plane in the airport of departure:

The Sellers shall bear all the charges up to the moment of loading the goods on board of the plane in their country;

the title to the goods as well as the risk of accidental loss or damage to the goods shall pass from the Sellers to the Buyers when the goods have been loaded on board the plane in the Sellers country;

the date of the Airfreight Bill is considered as the date of delivery.

1.5. When dispatched by parcel post deliveries shall be made .free consignee in the Buyers' country and:

The Sellers shall bear all the charges to the place of des­tination;

the title to the goods as well as the' risk of accidental loss or damage to the goods shall pass from the Sellers to the Buy­ers since the moment the parcel has been handed over to the Post Office of the Sellers' country; right to demand under the agree­ment of conveyance concluded with the Post Office of the Sellers' country, shall pass from the Sellers to the Buyers since the moment the parcel has been handed over to the Post Office of the Sellers' country;

c) the date of the stamp of the Post Office receipt is to be considered as the date of delivery.

1.6. To ensure normal operation of the equipment to be delivered with the capacity and other indices stipulated in the present Contract, the Sellers undertake:

1. to provide the Buyers with the experience the Sellers possess for operation and repair of the equipment to be delivered;

2. to provide under Buyers request training of Soviet specialists, at similar operating in accordance with the program agreed upon by the parties;

c) to supply under Buyers re­quest spare parts, which allow for the normal operation of the equipment upon expiration of the guarantee period, according to the specification and prices, which will be agreed upon with the Buy­ers, the prices should not exceed those of current price lists of manufacturers.