This second edition offers an innovative combination of textbook and casebook focusing on the practice of IBT law. The book contains important cases, dozens of model contracts, checklists for the analysis of complex problems, and flow charts for decision-making procedures. There are updated chapters covering contracts for the international sale of goods and services under CISG, UCC, and other contract laws; letters of credit, documentary collection, and other payment arrangements; shipping; insurance contracts; and transnational litigation and international commercial arbitration, for the enforcement of rights and obligations.