Many companies, in the process of expanding their business in search of new partners and clients, turn their attention abroad. However, you need to understand that transactions with foreign structures have their own characteristics, which must be remembered at all stages, including concluding a contract and drawing up all related documents. In this article we will look at how to correctly conclude a deal with a foreign company, what needs to be taken into account and how to make the contract safe and beneficial for both parties.
We conclude a contract
Purchasing goods abroad, like any transaction, begins with formalities and obtaining the consent of counterparties.
A contract must be concluded with a foreign supplier, and it must be drawn up in writing and in two languages (supplier and buyer). Documents can be transmitted by mail, e-mail, fax - the law does not prohibit this. To conclude a contract, you can contact an experienced lawyer or read the legislative framework yourself.
Russian legislation:
- Customs Code of the Customs Union;
- Federal Law No. 164-FZ of December 8, 2003 “On the fundamentals of state regulation of foreign trade activities”;
- Federal Law No. 173-FZ of December 10, 2003 No. 173-FZ “On Currency Regulation and Currency Control”;
- Federal Law “On Customs Regulation in the Russian Federation” N 311-FZ of November 27, 2010;
- Instruction of the Central Bank of the Russian Federation No. 181-I dated August 16, 2017.
There are Incoterms rules, you can use them when drawing up a contract, because they represent the standard terms of an international sales contract and distribute rights and responsibilities between the supplier and the customer. In addition to the main terms of the contract, it is better to supplement the determination of the price in currency with information on what date to take the exchange rate, as a rule, this is the date of payment. This will be useful for tax accounting.
Many contracts do not specify an important condition: the moment of transfer of ownership of the goods. Such a clause in the agreement will also help avoid disagreements with tax authorities in the future due to the receipt of goods.
