The Legal Principles involved in the Financing of Counter trade Transactions in the International Oil and Gas Business

Countertrade is one of the oldest contracts in commercial circles, dealing with the process of swapping goods in various forms.
These contracts are used widely in international circles of petroleum swap contracts with goods. Although of legislative weakness prevails formally in the organization these contracts, but the international entities still use these contracts in commercial transactions. This research will start discussing what are countertrade contracts. Then focus in the mechanisms involved in using countertrade agreements. After that, in briefly the research will considers new development in legislation to govern countertrade agreement