Contracts & Agreements

The contract should clearly identify the parties involved, including their legal names, addresses, contact information, and any relevant identification numbers.

Detailed specifications of the product being bought or sold, including quantity, quality, specifications, and any relevant standards or certifications

specify the agreed-upon price, currency, and payment terms. This can include details on payment methods, such as letters of credit, bank guarantees, or wire transfers, and any agreed-upon payment schedule.

Clearly define the delivery terms, including the place of delivery, shipping method, and responsibilities for transportation, insurance, and customs clearance.

Describe any quality control measures, inspection requirements, and procedures for resolving disputes over product quality or quantity.

Clarify when ownership of the product transfers from the seller to the buyer and when the risk of loss shifts between the parties.

Include provisions for dealing with unforeseen events or “force majeure” events that may disrupt the fulfilment of the contract.

Outline the conditions under which the contract can be terminated and the remedies for breaches of contract by either party.

Specify the governing law that will apply to the contract and the jurisdiction where any legal disputes will be resolved.

Include clauses that protect sensitive information shared during the transaction and prohibit parties from disclosing it to third parties.

Determine whether disputes will be resolved through arbitration, mediation, or litigation, and specify the procedures and location for such resolution.

If applicable, detail insurance requirements for the shipment of goods and liability coverage for potential damages or losses.

Address any intellectual property rights associated with the transaction, such as patents, trademarks, or copyrights.

Ensure that the transaction complies with all relevant international, national, and local laws and regulations

If relevant, specify export and import documentation, licenses, permits, and compliance with trade restrictions or sanctions.

Define the consequences of default, including any penalties, interest on late payments, and mechanisms for dispute resolution.

Specify the method and address for giving official notices or communications related to the contract

Outline the procedures for making amendments or modifications to the contract, and specify that changes must be made in writing and signed by both parties.

Include provisions for the signatures and execution of the contract, including any requirements for witnesses or notarization.