Before formalizing cooperation, future contractors often decide to sign a document in which they summarize the agreed purpose and further planned steps. This document is the letter of intent. What is its role?
Contractual penalties in international contracts – is it worth introducing them to the contract?
The common commercial practice is to communicate only in electronic form, through the exchange of e-mails. It should be remembered that in this case a contract is also concluded in the form of a commercial custom adopted by the parties.
Economic cooperation with a foreign contractor can be formalized in several ways. Do you know them? Are any of them better than the others? Let’s see.
In practice, a significant part of the negotiations between the parties is devoted to these provisions.
The international sale of goods is very often associated with the use of Incoterms rules. What are they and why are they so helpful?
Entering into commercial relations with a foreign contractor involves risk. What is the risk in foreign trade and how to increase the security of such transactions? Read more.
Case study
You are engaged in discussions with a potential foreign partner regarding the terms of a possible economic partnership. During the negotiation process, you discover that the partnership is supposed to be governed by a straightforward agreement or purchase order and the standard General Terms and Conditions used by your business partner.
Confidentiality clause is a contractual provision on the basis of which the parties decide to accept that the information specified by them, indicated in the contract, will be confidential, and therefore cannot be freely available to third parties, under the pain of the consequences specified in the contract.
