the contract

International commercial agreement, international commercialthe contract, a foreign economic transaction, a transaction (agreement) between two or more parties located in different countries for the purchase and sale or delivery of goods, the performance of works or the provision of services or other types of economic activity in accordance with the terms agreed by the parties.

The contract is the basis of the foreign economic activity of economic entities. A contract will be considered international if it is concluded between parties that are under the jurisdiction of different states. In accordance with the Vienna Convention on Contracts for the International Sale of Goods, a prerequisite for such a contract is the location of the commercial enterprises of the parties to the contract in different States.

For example, a contract will be considered international if it is concluded between firms of the same nationality, whose commercial enterprises are located in different states. Conversely, a contract concluded between firms of different nationalities located on the territory of the same State, in accordance with the terms of the Vienna Convention, will not be considered international.