International Business Contract – Legal Provisions
International contracts refers to a legally binding agreement between parties, based in different countries, in which they are obligated to do or not do certain things. International contracts may be written in a formal way. Most businesses create contracts in writing to make the terms of agreement clear, often seeking legal counsel when drawing important contracts. Contracts can cover all aspects of international trade, although the most commonly used are:
- International sale contract.
- International distribution contract.
- International agency Contract.
- International sales representative contract.
- International supply contract.
- International manufacturing contact.
- International services contract.
- International strategic alliance contract.
- International joint contract.
- International franchise contract.
In international trade, the UNIDROIT Principles establishes general rules applicable to commercial contracts. They shall applied when the parties have agreed that their contract be governed by them. They also may be applied when the Parties have not chosen any law to govern their contract. In other cases they may be used to interpret or supplement domestic law.