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International Contracts Blog

Joint Venture Contract Checklist

checklist-2Though there is no legal definition, a Joint Venture is essentially a relationship between two or more parties sharing risks and rewards in a particular business enterprise. The joint venture is usually undertaken through the medium of a joint venture contracts or through a limited liability company.

The checklist that follows covers 20 of the more usual matters that parties wishing to venture together in a business enterprise must consider, negotiate and agree:

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International Contracts Blog

Differences between letter of intent and memorandum of understanding

Diferencias entre carta de intenciones y memorandum de entendimientoIt is customary, in day to day business, to start writing negotiations in between parties when conducting any business purpose, whether buying, distribution or partnership agreements. This home for future consummation of binding mutual obligations can not be considered much less a contract itself, denominating legally as mere letters of intent or preliminary treatment.

A distinction has to be made very clearly as far as the effectiveness of such treatment preliminary binding and can advance even now they represent only simple conversations, writing minutes or crossover projects, offers and counteroffers in which the parties do not show their intent to be bound each other, but the only thing is that record to see the possibility of hiring in the future. Letter of Intents and Memorandum of Understanding (known as MOU´s) are drafts without binding efficiency and, at best, serve as mere interpretive elements in the event of needing to know the will of the parties to enforce when the business finally completed.

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International Contracts Blog

Principles of Commercial Contracts

Principios del contrato comercialA commercial contract refers to a legally binding agreement between parties in which they are obligated to do or not do certain things. Contracts may be written or verbal and drawn up in a formal or informal 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 business, although the most commonly used commercial contracts are:

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International Contracts Blog

Dispute prevention and conflicts resolution in China

made in ChinaDisputes can generally be settled through four primary mechanisms: negotiation, litigation, arbitration and mediation. A foreign investor may choose any of these four mechanisms to solve the dispute, depending on its actual status.

Negotiation: compared to other dispute resolutions mechanisms, is usually the best method of settling disputes. The costs involved are not as large as in arbitration and negotiation has the benefit of preserving the parties relationship (arbitration and litigation always involve the break up of the parties in the dispute).

Negotiation is one of the dispute resolution mechanisms most commonly included in contracts as a way of initially dealing with disputes between parties. However, although considered to be one of the best methods for dispute settlement, negotiations do not always lead to agreement between parties.

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International Contracts Blog

Doing Business 2013 World Bank Survey

Doing business 2013 english-bajaTenth edition of the famous and prestigious annual survey conducted by the World Bank which analyzed and evaluated 185 countries of the world according to 10 criteria for doing business.

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