Considering the complexity of the issue of drafting and legal verification of foreign trade contracts, work on them will be carried out within the framework of a formed group with the involvement of lawyers of several specializations.
As noted by Roman Shabrov, partner of the BRACE law firm, attorney at law, — “Carrying out a large amount of work on legal expertise and drafting international trade contracts, we see that this block of work is complex, requiring the active participation of lawyers of various specializations, including in the field of international commercial law, customs and tax law, litigation and international arbitration (in terms of determining the body resolving disputes from a foreign trade contract) and a number of other industries. The preparatory part, including checking the foreign counterparty and conducting negotiations, is also of considerable importance. In this regard, we decided to form a multidisciplinary team to more effectively carry out this legal work, including lawyers of different specializations for a comprehensive analysis of various risks arising during the conclusion and execution of international contracts”. “An integrated approach is especially important,” Roman notes, “in relation to a number of Asian countries, including China, Vietnam, South Korea and a number of other jurisdictions, where the legal systems differ significantly from the Russian one, and obtaining information is significantly difficult”.
Special attention should be paid to checking a partner when concluding an international trade transaction, since certain difficulties can be encountered already when verifying the good faith of a foreign counterparty. This is due to the fact that it is subject to the law of a foreign state, regulating the specifics of organizing the activities of such an entity, the norms of which differ from the norms of Russian law. At the same time, it is sometimes quite difficult to obtain reliable information.
Interaction between counterparties of foreign trade activities is carried out on the basis of a concluded foreign economic contract, which is a transaction between two or more parties that are business entities from different countries. As a rule, such a contract is concluded in writing, which defines the terms of cooperation between the parties to the transaction and is regulated by several legal systems.
Foreign trade contract has some distinctive features: the parties to the transaction are subjects of different states; is subject to the norms of international and/or national law; the parties to the transaction must determine the law applicable to the transaction; separate state control of such legal relations; special rules for the registration of import/export of goods.
More detailed information on the content of the services provided for the preparation and legal examination of contracts can be found here, and the services provided for legal support of foreign trade here.
One of the most popular services at the moment is the preparation of a contract between Russian and Chinese companies.
