Most commercial transactions begin with a basic, informal exchange of proposals, some emailed words of consensus. But in the case of defects or delayed deliveries, how can a customer claim against its supplier? How can risks, uncertainties and disputes across the global supply chain be prevented? Unsuitable contracts and lack of experience put businesses at risk and cause uncertainty and disputes.
Precontractual.com provides guidance on the many legal aspects of contracts, best practices of contract drafting, offers alternative clauses and explains the ITC Model Contracts. It covers a wide spectrum of business models including sale of goods, international distribution, joint ventures and provision of services.
Use of sound cross-border contracts and greater awareness will lead to stronger and smoother trade as well as to a more transparent and efficient business environment for MSMEs engaged in international trade. This is what Precontractual aims at.
Micro, small and medium-sized enterprises (MSMEs) play an increasingly important role in international value chains. Many of them have grown into micro-multinationals with worldwide commercial presence and international alliances. Globalization and increasing regulatory restrictions complicate their cross-border transactions. MSMEs cannot always afford legal resources or access to advice. Many of them draft and negotiate agreements without legal support.