To publish Law of International Business in Australasia at a time when inter- national trade is slowing down as a result of the global financial crisis might seem inopportune. Notwithstanding the global crisis, international trade is vital for both Australia and New Zealand and we believe that the difficult economic circumstances, if anything, strengthen the need for a text dealing with internat- ional trade and investment issues which provides both a detailed and a practical exposition of the key issues involved. This text is the successor to the Law of International Business Transactions, the last edition of which was published in 2004. There have been major develop- ments in the area since 2004 and, with the advent of a second author, it was time for a radical review. In the upshot we decided to reorganise the material, to rewrite and update major segments and to expand the scope of the book. Part I of the book still deals with trade in goods, a fundamental part of international business law. This Part encompasses new developments in banking such as the new UCP 600, the adoption by the United Nations of the Convention for the International Carriage of Goods Wholly or Partly by Sea