Mumbai | 25 Jul, 2018 (9 months, 4 weeks ago)

Contracts and Legal Documentation

International business contract

This example is in relation to International trade. My client (X) is a corporate based in HK and is a party to an international trade transaction between A (in India) and B (in Africa). A sells goods to B through X. X facilitates the transaction by using his credit facilities in HK. [B issues 90 days LC on X and X pays to A at sight]. The primary responsibility for the trade is between A & B and X does not want to assume any risk arising from any breach of contract between them. How can X safeguard himself?
Answers
11 Aug, 2018 | 15:10

Hi, there are many ways in which X can secure itself. One of the primary modes is to enter into tripartite agreement whereby the roles and responsibilities of the parties are clearly enshrined. If the parties do not agree to the same, there are other commercial and legal methods through which the same can be achieved but would require further discussion as to the needs and concerns of all the parties.


international-business-contract-423941

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