Do I need a written contract to export or import goods or services or do business internationally?
The importance of having a written contract when conducting international business transactions cannot be overemphasized. The value of having a written contract is to protect your rights and interests. The contract delineates the rights and obligations of the parties. The contract should contain certain important provisions, such as which law governs the contract, which court will resolve any disputes or do the parties desire to resolve any future disputes through arbitration, etc. Well drafted written agreement will save you money, time and value of your investment. It is cheaper to hire a competent attorney to properly draft a contract, than to litigate any future disputes without having a written contract in place. To speak with an experienced international lawyer at the Juras Law Firm, PLC, contact us.