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Can anyone imagine a business life without having a number of contracts in the
folder? As businesspeople, we are tied with producers, deliverers, advertisers,
customers, logistics services, etc… the list can be long enough. What is the
best document to control the whole process and all commitments? No doubt – a
contract - a written agreement between Sellers and Buyers. Typical contracts on
buying/selling a product usually include 16 general articles, although they can
be less or more. Let’s take 16 steps and face questions at each of them.
1.
Subject of the contract.
What are the terms of buying/selling? Does the contract have any attachments?
2.
Price and total value.
What is the currency the price and the amount fixed in? Does the price include
the cost of tare, packing and marking? Who pay for the loading onto a ship, the
stowage, the lighterage?
3.
Quality of goods. What are the requirements? (the specification
requirements, the international standards)
4.
Guarantee of quality. How long does the period of guarantee last? What shall
be done if the goods prove to be defective during this period?
5.
Dates of delivery. How soon shall the shipment documents be submitted? Must
the Buyers send a written consent? What date is considered as the date of
delivery? (bill of lading, motor bill)
6.
Delivery and acceptance of the goods.
Is the quality proved by the Quality Certificate? Is the quantity proved by the
Bill of Lading?
7.
Notification of shipment. What is the time to notify the Buyers?
8.
Packing and marking. What should the packing provide? (full security, no
damage). How is each package to be marked?
9.
Payment. How and what bank shall the payment be made?
10.
Export license. Who will take care of and bear all the expenses?
11.
Insurance. Who will take care and cover the expenses?
12.
Claims. When can the claims as to the quality and quantity of goods be
submitted?
13.
Contingencies, force-majeure. What are the circumstances preventing the
fulfillment of the commitments? How soon shall the party inform the counterpart?
What authority shall confirm the facts?
14.
Arbitration.
What authority is to settle the disputes and differences?
15.
Other conditions. What is important not mentioned above shall be included
here?
16.
Legal addresses of the parties.
So, be sure to consider and include these points into the contract. |
