Complete 3 pages APA formatted article: UCCs Effect On International Commerce. The third article provides for the transactions in commercial papers such as negotiable instruments and promissory notes

Complete 3 pages APA formatted article: UCCs Effect On International Commerce. The third article provides for the transactions in commercial papers such as negotiable instruments and promissory notes (Hinkelman & Shippey, 2004). The other provisions are also important in trade since they provide guidelines on issues such as bulk transfers, secured transactions and dealings in investment securities such as stocks and bonds. The UCC applies to national trade, but would have positive effects if applied to international commerce. The UCC is designed for quick references on laws regarding formation of business contracts, expert analysis of the impact of various commercial transactions and easy handling of court decisions regarding disputes emanating from trade (Hinkelman & Shippey, 2004). The first effect of UCC on international commerce is facilitation of international transactions in the sale of goods. UCC will ensure that cross-border merchants have faith in sale of goods contracts due to the uniformity in the regulatory laws. The increase in foreign direct investments and growth in technology has led to emergency of new type of business transactions that require a uniform form of contractual agreements and legal protection (Hinkelman & Shippey, 2004). For instance, technology has allowed companies to sell digital products across national borders and multinational companies to list their stocks in different national stock exchange markets. In this case, uniform commercial code would be helpful in fostering international commerce (Hinkelman & Shippey, 2004). Uniform commercial code in the international commerce would be useful in curbing instances of international economic crimes such as money laundering and dumping. The UCC would be capable of offering legal guidelines that address issues relating to diversion of cargo in the high seas, counterfeiting and fraudulent insurance claims that are common in maritime trade. UCC will be useful in global tendering processes (Hinkelman & Shippey, 2004). The provisions will be important in ensuring uniformity of global tenders such as government tenders. This will ensure that contracting parties receive high quality services due to good faith requirements and transparency of the process (Hinkelman & Shippey, 2004). UCC will ease the international transfer of funds through creating uniform requirements in bank collections, settlements of financial securities and fund transfers among the international trade participants. UCC will create legal performance obligation to transactions involving a secured party. The code of business will guide the transfers of dematerialized securities. In this case, the final investors in the investment securities will have adequate security entitlement and right to receive any dividends accruing from their ownership of the security. Article 8 decomposes the security rights thus creditors are protected from the possibility of the investor of transferring such stake without informing the creditor who has some interest in the concerned security (Hinkelman & Shippey, 2004). The impact of securing the transactions is to provide a relief to the lender through a security interest in the collateral and an assurance in the default by the borrowing party. In most states, the secured transactions use personal property, fixtures and intangible property as the collateral in the case of default. This code will facilitate bankruptcy settlements thus facilitating international trade transactions (Hinkelman & Shippey, 2004). Articles 5 of the UCC provide guidelines on the issuance of letters of credit by financial institutions.

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more