text: partymayfinditusefultodesignate onepersontobeprimarily responsible forsupervising thepreparation ofthecontract documents. Itisadvisable forthatpersontobe askilled draftsman familiar withinternational countertradetransactions. Totheextentpossible, itisadvisable forthat persontobepresent duringimportant negotiations. Eachpartymayfindit usefultohavethefinalcontract documents scrutinized by ateamhaving expertise inthesubject-matter reflected inthedocuments inordertoensure accuracy andconsistency ofstyleandcontent. 6. Theapplicable legalrulesmayalsocontain rulesonthe interpretation ofcontracts andpresumptions astothemeaning ofcertain expressions suchas"reasonable price"(chapter VI,"Pricing ofgoods", paragraph 24),"trust" and"compte fiduciaire" (chapter IX,"Payment", paragraph 16),and"penalty" (chapter XI,"Liquidated damages andpenalties",•A/CN.9/332/Add.3 English Page3 paragraph __).Theparties areadvised toselectcontract wording inlightof theapplicable lawinordertoensurethattheexpressions usedreflect the intended meaning. Oneapproach isfortheapplicable lawtobedetermined at averyearlystageoftherelationship between theparties (e.g.,atthe commencement ofnegotiations). Thecountertrade transaction maythenbe negotiated anddrawnuptakingthatlawintoaccount. Another approach isfor theparties todetermine theapplicable lawonlyafternegotiations havetaken placeonthemaintechnical andcommercial issuesandhaveresulted ina measure ofaccordbetween theparties. They may thereafter reviewthefirst draftsrelating tothetransaction, whichreflect thataccord, inthelightof theapplicable lawtoensurethatthetermsofthedrafttakeaccount ofthat law. 7. Theparties shouldtakeintoaccount themandatory legalrulesofan administrative, fiscalorotherpublicnatureinthecountry ofeachparty thatarerelevant tothecountertrade transaction. Theyshouldalsotakeinto account suchmandatory legalrulesinothercountries whenthoserulesare relevant tothetransaction. Certain rulesmayconcern thetechnical aspects ofthecountertrade agreement (e.g.,safetystandards forthecountertrade goodsorrulesrelating toenvironmental protection), andthetermsofthe countertrade agreement shouldnotconflict withthoserules. Otherrulesmay concern export, importandforeign exchange restrictions (e.g.,itmay be provided thatcertain rightsandobligations arenottoariseuntilexportor importlicences, approvals forpayments orfortheuseofparticular payment mechanisms havebeengranted). Legalrulesrelating totaxation maybea factor, andtheparties maywishtoinclude inthecountertrade agreement provisions dealing withliability fortax. 8. Theparties maywishtoconsider whether thecountertrade agreement is tocontain introductory recitals. Therecitals maysetforthrepresentations made by oneorbothparties whichinduced theparties toenterintothe agreement. Therecitals mayalsodescribe thecontext inwhichthe countertrade agreement wasentered into.Theextenttowhichrecitals are usedintheinterpretation ofthetermsoftheagreement introduced bythe recitals variesunderdifferent legalsystems, andtheirimpactonthe interpretation may beuncertain. Accordingly, ifthecontents ofrecitals are intended tobesignificant intheinterpretation orimplementation ofthe countertrade agreement, itmay bepreferable toinclude thosecontents inthe operative provisions ofthecountertrade agreement. 9. Theparties mayfinditusefultoexamine standard formsof countertrade agreements, general conditions, standard clauses, orpreviously concluded countertrade agreements tofacilitate thepreparation ofcontract documents. Suchanexamination mayclarify fortheparties theissuesthat shouldbeaddressed intheirnegotiations. However, itisinadvisable to adoptprovisions appearing inthosedocuments withoutcritical examination. Thoseprovisions may,asawhole,reflect anundesirable balance ofinterests, orthoseprovisions maynotaccurately reflect thetermsagreedtobythe parties. Theparties mayfinditadvisable tocompare theapproaches adopted intheforms,conditions orcountertrade agreements examined by them withthe approaches recommended inthepresent legalguide.A/CN.9/332/Add.3
analysis: The text appears to be focused on the legal aspects of international trade, specifically countertrade transactions. It provides guidance on contract preparation, negotiation, and interpretation, highlighting the importance of understanding applicable laws and regulations. The text also touches on the need to consider mandatory legal rules, tax implications, and standard forms of countertrade agreements.