Commercial Treaties Conditions
Conditions of Commercial Treaties
Present-day commercial treaties are ratified according to the constitutional procedures of the participating parties. The treaties may be terminated unilaterally on notice of six months or a year. However, termination also may occur if the time period during which the treaty is in force expires, if the same parties negotiate another treaty on the same subject, or if the political status of a signatory changes. The outbreak of war suspends but does not terminate commercial treaties. If a dispute arising among signatories over the interpretation of commercial treaties cannot be settled by direct negotiation, it may be settled by rules of international law. Such disputes must be submitted to the International Court of Justice if the signatories have mutually accepted the jurisdiction of that court in advance (see International Court of Justice, United Nations). (1)
In this Section: Commercial Treaties, Commercial Treaties Conditions, Trade Agreements, Commercial Treaties History (including National Treatment, Protectionism and Freer Trade) and Most-Favored-Nation Clause.