Foreign Economic Activity
Legal support of foreign economic activity and international trade, legal services of export and import operations
The functioning of various companies in most cases, one way or another, is related to foreign economic activity and international trade. This is due to the fact that the modern market has long gone beyond the interaction of organizations of one state.
The entry of entrepreneurs into the international market is often considered difficult and not always profitable. The issues that arise in the conduct of foreign economic activity in most cases are related to the legal aspect, which, as a rule, is quite difficult for an entrepreneur to deal with on his own. In this connection, there is a need to obtain qualified legal support from a foreign trade participant, which is the basis of a successful international transaction.
International relations between participants in foreign economic activity have been developing for quite a long time, however, in the light of recent events, foreign economic activity is undergoing many changes, this is due to restrictions from foreign states, sharp fluctuations in the exchange rate, disconnection from the international payment system, regularly changing conditions of foreign economic interaction.
The development of technology has led to an increase in imports and exports of goods by entrepreneurs from different countries to other countries. In this connection, there is a need for qualified support of such transactions by competent specialists. Legal support of import and export is inextricably linked with such services as documentary registration of export/import, obtaining permits for transactions, customs clearance, cargo insurance, interaction with financial organizations, etc.
Understanding the intricacies of modern foreign economic activity is often not so easy, and therefore experienced specialists are involved to resolve the issue of interaction with foreign partners.
From the point of view of Russian legislation, foreign economic activity is recognized as foreign trade, investment and other activities, including industrial cooperation, in the field of international exchange of goods, information, works, services, results of intellectual activity (rights to them).
For the safe and legally correct conduct of foreign economic activity, the company's specialists will need not only knowledge of the legislation of the Russian Federation, but also knowledge of international law and foreign legislation, as well as experience in conducting international contracts. A feature of the conduct of such contracts is the fact that the second party to the transaction is an economic entity under the jurisdiction of another state. A foreign economic contract must be drawn up taking into account the interests of both parties to foreign economic activity and, at the same time, have legal force in the country of each economic entity of the foreign economic contract.
So, for example, when carrying out foreign economic activity in the field of international trade, one should take into account not only Russian legislation, but also the provisions of the United Nations Convention on Contracts for the International Sale of Goods, concluded in Vienna on April 11, 1980, the international INCOTERMS rules, if they are applicable to the contract.
It is quite difficult to understand the intricacies of the applicable law in the preparation and drafting of a foreign economic contract. It is important to understand not only the norms of international law, but also to understand the peculiarities of international economic interaction between the parties to the transaction. In this regard, of particular importance is the competent support of foreign economic activity, the correct execution of an international transaction, taking into account all the features, depending on the type of contract being concluded. When drawing up an international contract, it is important to take into account the interests of both parties to the transaction and reflect the rules of the applicable law, taking into account the peculiarities of the imperative rules and public policy of the jurisdictions to which the parties to the contract belong.
The structure of services for supporting foreign economic activity includes not only advisory assistance, but also full support from the stage of preliminary agreements to the final fulfillment of all conditions under an international contract.
Possible negative consequences for a foreign trade participant can become an unpleasant side in the conduct of international activities. In this regard, in today's rapidly changing realities, it is increasingly necessary to monitor regulatory documents governing foreign economic activity and competently support foreign economic contracts. Not only the profit or loss of an economic entity – the parties to the transaction, but also further relationships in the international market of goods and services may depend on such a qualified approach.
An important aspect in the support of foreign economic contracts is the observance of all established norms not only of international law, but also of the norms of Russian legislation. At the same time, when making foreign economic transactions, the obligation imposed on the Russian participant in an international agreement to return foreign exchange earnings to their accounts, provide information to banks on the timing of the execution of the concluded agreement and return of foreign exchange earnings, as well as to issue a transaction passport. This norm is reflected in Article 19 of the Federal Law No. 173-FZ of December 10, 2003 “On Currency Regulation and Currency Control”. In addition to all of the above, a participant in international transactions needs to know that a violation of Russian law may lead to undesirable consequences for a participant in an international transaction, for example, violation of customs rules provides for liability in accordance with Chapter 16 of the Code of Administrative Offenses of the Russian Federation.
An international contract complicated by a foreign element is not easy to prepare, conclude and execute, however, a qualified approach at all stages of foreign economic activity will allow conducting a foreign economic transaction taking into account all the features, as well as avoiding undesirable consequences for the participants in the transaction.
Despite the fact that business activity in terms of foreign economic transactions is currently declining, but in the dynamically changing conditions of the modern international market, the importance of competent support for foreign economic transactions is increasing.
- Assessment of legal risks of a foreign trade participant and their minimization
- Preparation of documents related to the conduct of foreign economic activity
- Negotiating and pre-negotiating the terms of the contract
- Checking the counterparty for foreign economic activity
- Preparation and editing of an international contract
- Interaction with financial institutions that carry out settlements between counterparties of an international transaction
- Effective pre-trial settlement of disputes and disagreements
- Protection of the organization and representation in court (arbitration, arbitration)
- Other types of services required in the course of a foreign economic transaction