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.