ABSTRACT
In Scandinavia and the islands in the North Atlantic, assemblies were not merely arenas for the exercise of political decision-making and jurisdiction. In the newly colonised areas in the North Atlantic, foreign merchants were vital in terms of bringing many goods which could not be otherwise obtained. During the High Middle Ages the operation of foreign trade in Iceland changed considerably. The power of the Icelandic assembly system, used by the chieftains to regulate trade, was substantially reduced after 1220, when chieftains started to lose their monopoly to ascertain the prices of goods to the merchants. During the Commonwealth Period and later, foreign trade in Iceland took place at established coastal trading sites such as Gasir in northern Iceland, which were regularly visited during the summer seasons, roughly between late April and late August. The general assemblies at Pingvellir were important political and social gatherings.
