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What are the rules of Myanmar contract law on the form of contract? What's the advantage of a formal written contract? What are trade terms?

What are the rules of Myanmar contract law on the form of contract? What's the advantage of a formal written contract?
What are trade terms? What are the relationship between the trade terms (normally appeared in the price clause) and the insurance clause?
What is letter of Credit? Comparatively speaking, which party bears the most transactional risks? Why? Any suggestions for that party to reduce the risks?
How did you make the contract (assignment) with your partner? Please describe your negotiation process and the main arguments?
What is force majeure? Whether the event of COVID-19 can be regarded as force majeure or not?

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