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Contracts in India: Key Points

Contracts in India Key Points

When foreign companies are required to enter into Contracts in India, they often consider using the same models of international contracts than in Western countries, especially those which are governed by the Common Law system, given that, due to historical and political ties between India and United Kingdom -including membership in the Commonwealth- the Indian legal system is based on ... Read More »

Russian Business Contracts: Negotiating and Contract Law

Foreign companies which carry out Russian business contracts are obliged to know about not only the Russian Contract Law – which has similarities to a continental legal model – but also, above all, the most common practices used by Russian companies and executives when they negotiate contracts with foreign companies. In contracts entered into in Russia, companies should not look ... Read More »

Negotiating and Enforcing Contracts in China

Contracts in China

When negotiating and enforcing contracts in China it is important to bear in mind that until a few years ago China did not have private companies or hardly any international lawyers firms. Consequently, the legal system and legal procedures and documents are considerably less developed than in the Western world. However, for companies trading in China, it is essential to ... Read More »

What is a Master Franchise Agreement?

Master Franchise Agreement

The Master Franchise Agreement (MFA) is a type of franchise agreement that allows the Master Franchisee the right to own and operate more than one establishment (called unit), and the right to sub-franchise the right to open units to other independent businesses (called Franchisees), all during a specified time within a specific area. There are three participants in this contract ... Read More »

What is a confidentiality agreement?

confidentiality agreement

The Confidentiality Agreement, sometimes called Non-Disclosure Agreement, is a contract template used to protect sensitive technical or commercial information from disclosure to others. Such agreement is often used when a company or individual has a secret process or a new product that it wants another company to evaluate as a precursor to a comprehensive Manufacturing License Agreement or Technology Transfer ... Read More »

What is a Memorandum of Understanding?

A Memorandum of Understanding between companies is a document like a contract but not binding on the parties, except when confidentiality and non-competition agreements are included. It is essentially a collection of key points of an agreement between two parties that are negotiating a contract; in this respect, a Memorandum of Understanding is simply the agreement signed prior to the ... Read More »

Key Clauses in International Distribution Contracts

The purpose of an international distribution contract is to establish one or more sales points within a geographical area in a foreign country from which goods and services can be offered to a specific clientele. This type of contract enables suppliers -i.e. manufacturers of different products- to benefit from existing commercial facilities and to select their trading partners. This commercial ... Read More »

What is a Letter of Intent?

A Letter of Intent is essentially a collection of key points of an agreement between two parties that are negotiating a contract; in this respect, a Letter of Intent is simply the agreement signed prior to the final contract. In certain complex transactions, the parties may wish to come to a preliminary agreement, sometimes called an “agreement to agree”, which ... Read More »

Joint Venture contract checklist

Though there is no legal definition, a Joint Venture is essentially a relationship between two or more parties sharing risks and rewards in a particular business enterprise. The joint venture is usually undertaken through the medium of a joint venture contracts or through a limited liability company. The checklist that follows covers 20 of the most usual matters that parties ... Read More »

What is a trading company?

Trading companies  are specialists that cover all export and import operations and procedures. A trading company buy products in one country and sold them in different countries where it has its own distribution network. This kind of companies mostly work with high production volumes of products such as raw materials, chemicals, generic pharmaceuticals, etc. The activities of a trading company ... Read More »