KG Legal Law Firm has obtained the membership of the British Institute of Export which is the professional membership body representing and supporting the interests of everyone involved in importing, exporting and international trade. The Institute is the leading authority in best practice and competence for businesses trading globally.
The membership in IOE will help KG Legal to provide professional support to the expansion of foreign business entities in the Polish jurisdiction.
The contract with a foreign business partner – what Polish company has to pay attention to? – Part 2
„Clear and coherent contract with foreign counterparty is the key to success” – truism or the most urgent issue for Polish companies? The authors’ practise regarding legal advice indicates, that polish entrepreneurs conclude contracts with foreign counterparties on grave adverse conditions for its legal position. We present hereafter the most common mistakes that Polish companies make by conducting foreign contracts.
“7 deadly sins” are:
4. Lack of proper security of payments
Polish entrepreneurs do not impose their conditions of payments by using clauses providing security of receiving payments for foreign service or product, which has been sent aboard. There are multiple simple legal instruments, which (in case of being included in the contract) could be surely recognized by foreign companies as standard solutions, acceptable in those situations. Various forms and types of international security considering commercial contracts represent so spacious thoughts, that authors decided to discuss them in a separate article.
– The contract with a foreign contractor – what Polish company has to pay attention to?
„Clear and coherent contract with foreign counterparty is the key to success” – truism or the most urgent issue for Polish companies? The authors’ practise regarding legal advice indicates, that polish entrepreneurs conclude contracts with foreign counterparties on grave adverse conditions for its legal position. We present hereafter the most common mistakes that Polish companies make by conducting foreign contracts.
“7 deadly sins” are:
1. Discrepancy of various language versions
Parties coming from various legal jurisdictions often use different language versions of the contract. Those language versions are different, when it comes to used terminology. Parties do not clearly indicate, which of them is the most significant. It concerns in particular situations, when parties coming not from English-speaking jurisdiction prepare the contract in English language (which is found to be a standard, but this language is still “foreign” for them); it is worth in those cases to be based on a mother language of at least one party.
The Comprehensive Economic and Trade Agreement (CETA) was adopted by the Council and signed at the EU-Canada Summit on 30 October 2016. CETA will create jobs and strengthen economic relations between the EU and Canada.
Start-ups are becoming the most frequently chosen form of business and Cracow is becoming the hub of innovations, therefore the subject and the main goal of the Symposium was to show how the start-ups operate and to indicate possible ways of funding start-ups. The important thing in this type of business is legal protection and commercialisation of intellectual property. In Poland the Academic Incubators of Entrepreneurship (Akademickie Inkubatory Przedsiębiorczości) are the examples of the activity of the universities in the creation of innovative thinking.
The Comprehensive Economic and Trade Agreement
