Question

Explain each of the following provisions of the legislation in your own 30-80 words:

1. International Commercial Terms (Incoterms)
2. Customs Legislation Amendment and Repeal (International Trade Modernisation) Bill 2000
3. Import Processing Charges Amendment Bill 2013
4. Competition and Consumer Act 2010 (Formerly Trade Practices Act 1974)
5. Warsaw Convention

Answer 1

1. International Commercial Terms (Incoterms): The International Chamber of Commerce (ICC) has developed a set of term definitions related to trade, defining the contractual responsibilities and/or liabilities of the supply chain partners. these can be used, and are recognized globally. These sets of terms are known as Incoterms.
2. Customs Legislation Amendment and Repeal (International Trade Modernisation) Bill 2000: The Customs Legislation Amendment and Repeal Bill 2000, in conjunction with the Import Processing Charges Bill 2000, and the Customs Depot Licensing Charges Amendment Bill 2000were passed with the intent of modernizing the Australian Customs management of the cargo movement to and from the country. There were some amendments brought in the services through this bill to make custom services more efficient and business-friendly.
3. Import Processing Charges Amendment Bill 2013: The Import Processing Charges Amendment Bill 2013 was passed to bring in amendments in the Import Processing Charges Act of 2001, thereby increasing the import processing charges by $10,000 or more, for consignments being imported through sea, air and post routes.
4. Competition and Consumer Act 2010 (Formerly Trade Practices Act 1974): The Competition and Consumer Act is the competition law of Australia. This act was passed with the intent of promoting competition and fair trade in Australian business while ensuring consumer protection.
5. Warsaw Convention: the Warsaw Convention, signed in 1929, in Warsaw, unifies the rules of international air carriage. It lays down and regulates the liabilities for international air transportation of people, luggage and goods.