Transnational agreements should always be looked at through the eyes of an international attorney. Iacone Law, P.A. believes in this philosophy and was founded on the principle that finding solutions to cross-border legal matters requires an understanding of international business and cultural nuances.
Thus, our approach to international business transactions is based on an immersion theory: the laws of both source and target countries, together with its customs, are taken into account when drafting the contract or negotiating on your behalf.
Iacone Law, P.A. will handle your international sales contracts, distributorship agreements, joint venture agreements, conflicts of law issues, and the like for your business. In addition, Iacone Law will advise American and foreign businesses on issues of legal and regulatory compliance in the United States, with a focus on Florida law, and abroad, with a special focus on Latin America.
International business contracts differ substantially from their domestic counterparts. First, choice of law provisions must be included. This means that the parties to the contract agree that the laws of a particular country or state will govern the agreement in the event of a dispute. Choice of law provisions avoid the uncomfortable situation when one company, usually the non-breaching party, finds itself having to litigate a matter, sometimes in a different language, in the country of the breaching party.
Interestingly, the parties to the contract can also choose the jurisdiction and venue. Note, while choice of law deals with which law will apply, jurisdiction and venue involves the where, i.e. the location of resolving the dispute. Thus, the parties can contract to resolve a corporate dispute in Miami, Florida using Delaware law. There are many strategic advantages to this, especially for foreign businesses.
International business contracts should also include terms on shipping, payment, references to the Uniform Commercial Code or Convention on International Sale of Goods and, importantly, a force majeure clause. The latter deals with instances outside of the control of the parties, such as civil unrest, changes in political climate, or Acts of God, such as natural disasters. Of course, this is by no means an exhaustive list of what is required in an international business contract and is only meant to serve as an idea on the complexity of the matter.
Staying competitive, increasing profits, and driving down costs are all outcomes that can be found on the world economic platform. The road to it, however, or at least avoiding a bumpy ride, should start with a conversation with your international law attorney.