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.
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– 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.
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Controversial article 25 of the Comprehensive Economic and Trade Agreement (CETA)
The goal of CETA regarding to biotechnology is to overcome Canada’s issues with the European Union market called ‘market access issues’.
Canada is the 5th largest producer of GM crops in the world, growing and exporting GM canola, corn, soy and white sugarbeet and Europe has not yet approved all of these same GM crops for human consumption. Taking this into consideration Europe needs to quickly approve GM foods and crops that being exported by Canada. In Poland the public debate has started, since GM food is thought as “worse” than the food produced in a conventional manner.
In addition, the Polish translation of the CETA had to be corrected, since the article 25.2 pt. 2d) which the original form is ‘to engage in regulatory cooperation to minimise adverse trade impacts of regulatory practices related to biotechnology products’ has been mistranslated thereby it had the opposite meaning in Polish.
The information was prepared by Kamil Trzaskoś of KG Legal Polish Law Firm. KG Legal provides specialised legal assistance to IT, Life Science as well as investment processes in Poland and organises networking between Polish and international companies and research centres.
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The Comprehensive Economic and Trade Agreement
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.
What will CETA introduce:
– helping to create growth and jobs at home
– ending custom duties
– letting EU businesses bid for Canadian public contracts
– stepping-up regulatory cooperation
– protecting European innovations, artists and traditional products
– opening up trade in services
– promoting investment
– ensuring good cooperation in future
– protecting democracy, consumers and the environment.
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On the 1st – 2nd September 2016 XII International Symposium was held in Cracow and KG Legal was a participant thereof. The event was organised by the Polish Patent Office and co-organised with World Intellectual Property Office, Embassy of Israel in Poland, Jagiellonian University, AGH University of Science and Technology.
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.
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