Are your contracts internationally fit-for-purpose?

If your company is using a basic contract format to draw up an export/import agreement it’s unlikely to work well internationally. Rather it needs to reconcile the demands of both English law and the law of the country of export or import to do the job properly.

The consequences of not paying attention to such detail can be costly. Resolving any misunderstandings may delay contract completion, or you could be liable for unexpected and additional costs that dent your profit margin.

Point-to-Point can guide you around the pitfalls in drawing up your export/import contract. How? By applying our specialist knowledge and best practice principles to clarify each party's costs, risks and responsibilities and ensure that the business contract flows smoothly.

Misunderstanding documentary requirements, or assuming that what works in one country will work in another, can prove expensive. When trading with Turkey, for example, agreeing to supply an ATR certificate will only work if the goods supplied are manufactured, or are in free circulation, within the European Community. If they’re not, you could end up paying the duty costs.

Also, trying to agree a contract with an Ethiopian customer who relies on the issue of a Transferable Letter of Credit will, unfortunately, fail, because Ethiopian banks cannot supply these under current Ethiopian law.

These are just some of the contract issues you could miss without our advice. So involve us at the outset to ensure a smooth transaction.