A business contract is an important legal document that outlines how the business relationship will proceed, how it will end, and what consequences will occur if one or more parties in the contract fail to live up to their obligations. While all business contracts have an inherent degree of complexity, international business contracts can be even more challenging. Here’s what you need to know about international business contracts and when to contact an attorney.
What Your International Business Contract Should Include
A contract of any kind should identify all parties involved in the contract, a description of goods or services that will be sold and for what price, and how any business disputes will be resolved, among other things. However, an international business contract should include a few more things that domestic contracts typically do not, such as:
- Which country’s laws apply to the business transaction itself
- Which country’s currency will be used during the transaction
- Which country’s courts have jurisdiction over the transaction, and where international litigation will be handled if disputes arise
There are a few other things that your contract should include if you are doing business with someone in another country, such as:
- A force majeure clause, which excuses parties from being penalized for failure to live up to contractual obligations if there were factors involved that were out of control of all parties in the contract
- What language will be used to govern the transaction, and what language will be used in all meetings regarding the business relationship going forward
When to Contact a Foreign Service Law Attorney
Since contract law is complex and becomes even more difficult when it involves the laws of more than one country, it is important to consult with an attorney who has experience in international law before you sign on the dotted line.
You need to be sure that your business contract protects your rights and best interests, as well as that of your business. A foreign service law attorney with expertise in the various aspects of international law can help you do that.
Contact the Foreign Service Law Office, LLC today to schedule a consultation to discuss your international law needs and to learn more about how to take steps to protect yourself and your business before signing an international business contract. Call now at (847) 869-8319 or toll free at (888) 351-7263. We are available now to assist you.