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hello everyone a very warm welcome to indian institute of foreign trade i am dr arid siddiqui and today we are going to have a look at one of the very important aspects of international trade which is a contract in international trade as the two parties are not in the same country the only binding factor between them is a contract when we talk about a contract in case of international trade we are going to see in todays session various important clauses in a contract the jurisdiction where disputes may be settled as we all understand that a contract basically is formed in order to settle a dispute so how to settle a dispute in terms of various clauses in a contract where is the jurisdiction whenever we are understanding or analyzing the terms of trade between two parties and how do we bargain or negotiate the power of power between the seller and the buyer in terms of governing a transaction a contract is usually a balanced document a balanced agreement between the two parties and he