The day-to-day business of international trade is primarily an undertaking between two private businesses based on a contract drafted and negotiated between the two parties for performance by them with occasional third-party assistance. It is this down-to-earth point of view that has caused this incomparable one-volume work to be treasured by business people and their counsel through four previous editions. The book's much-appreciated precise information on a wide variety of issues encountered in setting up and performing international commercial agreements - including those pertaining to intellectual property, alternative dispute resolution, and regional differences - is of course still here in this new edition. New material includes the following: expanded coverage of international treaties on corruption and bribery; recent judicial and scholarly commentary on the CISG and the work of the CISG Advisory Council; discussion of INCOTERMS 2010; descriptions of new ventures in international electronic commerce and online dispute resolution; and analysis of new changes in the arbitration rules of major international organizations. With its in-depth exploration of techniques for smoothing the negotiation process and term-by-term guidance in drafting contracts to cover a wide variety of business relationships, from services to licenses, franchises to joint ventures, this book stands alone among contract drafting guides and has proven its enduring worth.