The TIDOTS is an EMC company that specializes in consulting and concluding international trade contracts between traders, producers, manufactures and exporting or importing companies, both in legal and trading fields of export and import.
The company also has the ability to give advice in the financial, customs, insurance and transportation sectors of products. The TIDOTS Company guarantees that, all matters will be executed in the best possible way at the beginning to the end of the contracts without any problems, and all parties to the contracts achieve their reasonable profit.
Also, in the case of exporting or importing companies that need legal or trading consulting in any parts of the contract, The TIDOTS Company can assist them in concluding a good and standard contract to prevent disputes, non-fulfillment of obligations or possible future problems. These sections in the contracts include the draft, MOU, the parties to the contracts, their knowledge of each other and how to relate, the obligations of the parties and their mandatory duties, guarantees, the scope of the contracts, dispute resolution, arbitration, force majeure, annexes and related laws, Chronicles and signatures.
Our other expertise is to give advice and guidance to the field of various international trade contracts and helping to have a better recognition of relevant laws and the ICC and ITC rules for the reason that all companies should have enough knowledge and information about these rules if they intend to enter to this field and that’s exactly where we can share our ability to them.
Among the types of international trade contracts, the most important of them are as follow:
International Contractual Alliance
International Corporate Joint Venture
International Commercial Sale of Goods
International Long-Term Supply of Goods
International Contract Manufacture Agreement
International Distribution of Goods
International Commercial Agency
International Supply of Services
But here remains a question: what is an international contract?
International contracts refer to a legally binding agreement between parties, based in different countries, in which they are obligated to do or not do certain things. International contracts may be written in a formal way. Most businesses create contracts in writing to make the terms of agreement clear, often seeking for a legal counsel when drawing important contracts and that’s why the importance of written contracts, to prevent legal possible disputes related to the obligations of any business or trade.
In international trade, the UNIDROIT Principles establishes general rules applicable to commercial contracts. They shall applied when the parties have agreed that their contract be governed by them. They also may be applied when the Parties have not chosen any law to govern their contract. In other cases they may be used to interpret or supplement domestic law.
PARTS OF INTERNATIONAL CONTRACTS
The major parts of international contracts include:
2- Subject of Contract
3- Period of Contract
4- Territory of Contract
5- Total Amount of Contract
6- Execution of Contract
7- Obligations of Two Parties
8- Payment Terms
9- Warranty & Guaranty
11-Dissolve / Revocation / Termination
12- Force Major
14- Original Copies of Contracts
16- Supplement Clause
17- Legal Address / Parties Contacts
18- Sign & Seal
In addition, you should follow the rules in the following sectors whenever you decide to make these kinds of contracts.
First, the documents
(1) Here are the documents shall be attached to main contract.
National Card / ID
The Customers List
Prints of Banking Accounts Also there are several important tips and steps you should pay attention to them before forcing into of any contracts related to the ICC & ITC.
Second, the tips
(2) Also, there are several important tips and steps you should pay attention to them before forcing into of any contracts related to the ICC & ITC.
The Main Steps in Concluding a Contract
1- First Session, Second Session, Third Session, even more. (writing down a brief of the sessions as an Agreed Minutes / AM (or Minutes of Meeting / MOM) for each session and then take the participants signatures as a confirmation).
2- MOU (Memorandum of Understanding)
3- Creating a Protocol or Draft
4- Draft or Protocol Exchange
5- Last Session or Meeting
6- Clarify or Clarification Session
7- Signing Draft of contract
At last, as an example the main legal situations of sale contract plus tip related to it, are explained
Contract of sale
(1) Once both sides have negotiated the deal though, a contract of sale is signed by both the vendor and the purchaser on purchasing a product or products. There are some important notes should be paid attention before making a sale contract.
(2) The names of the vendor and purchaser. This should also include the addresses of each party.
The address of the property if exists.
The deposit amount and due date. There will be mush legal problems if parties have no agreement on it or have not formulated the proceeding about this important part.
The sale price. It is often determined by exact amount of the price on making date or in any other way if agreed.
(3) The date of the product settlement and whether there are any conditions. Conditions may include finance or any additional inspections. Each condition needs to be numbered and initialed by both parties.
Transportation, insurance, financial methods of payment are also other major parts of a sale contract where should be explicitly written to achieve an agreement without future disputes.
(4) To have A legally binding agreement between the parties, the contract of sale is negotiated through solicitors or conveyancers. Using your own solicitor or conveyancer is crucial in ensuring the contract is sound and the transaction is completed successfully. In more complicated cases, solicitors can also negotiate on behalf of the parties to ensure the contract is in line with what is required. Importantly, the process differs from state to state, which is why it’s so important to retain an expert.