The negotiation of international commercial contracts requires certain techniques. The international commercial world seems to proceed on the presumed belief that businessmen are aware of such techniques and that experience matters most. It should be pointed out in this context that where a party enjoys monopoly on a market, the question of negotiating a contract would not arise, as the stronger party imposes its terms upon the weaker, but where competitors are available in a market, the technique of negotiating a contract assumes great importance, which is increasingly the case in the current international commercial world. Furthermore, there seems to exist a perception that the economically weaker world lacks bargaining power; consequently, the old-fashioned technique based on old-fashioned attitudes is often activated in negotiating international commercial contracts with such parties.