Thanks to globalization and technological advancements, e-commerce has become quite popular. With the availability of various communication and transportation channels, purchasing products abroad has become a common practice. Both retailers and consumers are opting to source products directly from abroad as this not only guarantees quality but it is also more affordable.
As great as buying products abroad is, it also comes with its fair share of challenges. Similar to the way you may run into issues with local sellers, this may be the case with international partners as well. As a matter of fact, international purchases tend to be more complex due to the difference in business operations and legal frameworks in different countries.
Should there arise a dispute between a buyer and a seller, in that, goods weren’t delivered as planned, or the quality isn’t what was promised, it can be difficult to make claim to a business based in another country. And this is why it is crucial to always sign an international agreement because it offers you legal protection in such instances.
In navigating these complexities, seeking assistance from international lawyers can provide invaluable support.
What is an International Contract?
A contract comes in many forms. The most common type is the written one which is signed by both parties. Also, a contract can be established when a seller agrees to receive payment for a product/service from a buyer. Even though there is no written agreement, this is still a contract. However, the availability of a written document is tangible proof that can be used to make a legal claim for undelivered, damaged, or low-quality goods.
We can’t emphasize enough the importance of agreeing on a written contract when doing business at an international level. Due to the existence of treaties signed between countries, an international contract gives power to a buyer in another country to sue a business in a foreign destination for the failure of adherence to the provisions in the contract.
A good example of a strong treaty that exists, is the one between the US and the UK. Stringent policies have been enforced in the past to safeguard international business relations. And both buyers and sellers are required to follow these policies.
As mentioned earlier, neglecting the use of international contracts when buying products is risky. So, even if you have worked with a supplier for years, do not send payment without signing the contract forms. And because most buyers do not have the resources to execute a contract, the seller is always responsible for such.
Challenges in International Trade
As mentioned earlier, neglecting the use of international contracts when purchasing products is risky. So, even if you have worked with a supplier for years, do not send payment without signing the contract forms. And since most buyers do not have the resources to enforce a contract, the seller is always responsible for it.
Now, what difficulties arise when signing contracts with other countries?
Every country has its own business practices and unique corporate cultures. What may be considered standard practice in one country may be completely unusual or even unacceptable in another. These differences can include quality standards, payment procedures, delivery times, and warranty conditions.
For example, a seller may be accustomed to a 30-day payment period, while the international buyer may expect to pay cash on delivery.
Laws and commercial regulations vary significantly from one country to another. This can complicate international trade transactions and increase the risk of contractual breaches. For example, laws regarding consumer protection, import and export taxes, and intellectual property rights may differ between countries and can influence negotiations and contract drafting.
Faced with this scenario, what can we do? Engage an international lawyer.
International Law Firms in Miami
Whether you are an individual or business experiencing any of the above problems, our international law firm is available to provide legal assistance. Based in Miami, Florida, we have a vast network of international lawyers in all industries, markets, and businesses in the world. We focus on providing international agreements and settling business-related disputes.
Why Work With Us?
We pride ourselves on having a team of experienced international lawyers that specialize in business and contract law. Thanks to our well-versed knowledge of contract law in various countries, our firm can ensure safe transactions and protect you from unwanted surprises.
When working on your contract with international clients, we ensure that it meets local and international laws. Both buyers and sellers can access our expert assistance in understanding as well as crafting terms and conditions.
Language and business culture differences are the key causes of dispute in international business. But, all this can be avoided by working with an international law firm that understands the importance of international contracts.
Venturing into an overseas market requires an adequate understanding of international contract law. Unlike here in the US where transactions are done through mobile communication channels. In other parts of the world, most cultures prefer face to face business. Using your ordinary approach in a foreign market is likely to result in a few hiccups here and there. And that’s why you need professional help.
We specialize in the following;
- Joint ventures
- Procurement agreements
- Intellectual property purchases
- Franchise and distribution agreements
- Revision of terms and conditions
- Foreign investment contracts
- International arbitration
We offer the above and much more. Should you be interested in getting legal help related to international contract law? Feel free to give us a call.
A word of caution; before signing a contract with any foreign company, it is crucial to conduct a background check and ensure the company is duly registered and authorized to operate within the country. This information is vital because there are few chances of running into problems when dealing with a reputable business.