The marketplace is a battlefield where both buyers and sellers have to face many potential risks that may damage their own interests. The differences between trading culture, commerce habits, languages, understanding and using the regulations... lead to disputes and serious damages of the businesses who envolved in international trade. Therefore, those engaged in international trade need a legal partner – who is International Trade Lawyer – that can help them navigate these complexities.
1. What is international trade?
We may understand that trade involves the transfer of goods and services from one person or entity to another. In the narrow sense, international trade, also preferred to as international commerce, means the exchange of goods and services (tangible goods and intangible goods) between the businesses of the countries, following the principle of equal exchange to bring benefits to each parties.
International trade is a commercial activity with foreign elements determined on the basis of three signs:
- Subjects in commercial relations are parties of different nationalities.
- Events that give rise to, change or terminate commercial relations occur abroad;
- Objects of commercial relations (goods, services...) in foreign countries.
2. What are the major principles of international trade?
When free trade arose, international treaties such as the GATT and the World Trade Organization (WTO) became the primary means of regulating global commerce. International trade requires the parties mus envolve and join in common international treaty or the other’s regulations. This shall lead to obeying the following basic principles:
- Most Favoured Nation Treatment: MFN is a status or level of treatment accorded by one state to another in international trade which is based on the idea that nations should treat all their trade partners equally – that no one country should be “more favoured.”
- National Treament: NT gives others the same treatment as one’s own nationals.
- Market access: Market access for goods in the WTO means the conditions, tariff and non-tariff measures, agreed by members for the entry of specific goods into their markets.
3. Who is an International Trade Lawyer?
The marketplace is a battlefield, where both buyers and sellers have to face many potential risks that may damage their own interests; especially international sales transactions. To avoid those risks, it is obvious that businesses need an International Trade Lawyer. An International Trade Lawyer will assist you in resolving legal issues surrounding the transactions.
4. What are benefits and risks involved in an international trade?
With the considerable of experiences, International Trade Lawyer in Quang Binh may see some top of the significant advantages of international trade, which include the chance to develop your firm, specialization, commodity price stability, higher production efficiency, improved infrastructure, improved living standards, and enhanced competitiveness.
Meanwhile, International Trade Lawyer in Quang Binh also sees the risks of international trade that businesses may face such as: Ignorance of the partner's capacity and legal status; Ignorance of international law and law of the concerned nation, failing to communicate effectively with business partners, and failing to spend enough time with potential partners. Exchange rate fluctuations, political instability, regulatory changes, and natural disasters may all add to trade risks.
5. What does International Trade Lawyer in Quang Binh do?
Depending on the client's need to use the service, the International Trade Lawyer in Quang Binh shall perform the following tasks:
Package 1: Counseling on international trade legal issues
- Counsel on legal regulations on international trade, Vietnamese regulations on trade and investment…
- Counsel on customs import-export licenses, international maritime transport...
- Counsel on the ability to participate in the market as well as appropriate forms of commercial activities/transactions for domestic and foreign traders;
- Research and provide legal opinions to help optimize business operations to reduce import taxes and other taxes in Vietnam;
- Counsel on compliance with the provisions of bilateral and multilateral agreements that Vietnam has signed;
- Research and advise on compliance with import/export regulations;
- Analyze potential legal risks during the transaction process and propose solutions to prevent them;
- Search and provide information about partners in Vietnam for foreign traders who want to trade;
- Counsel on and provide legal option to appropriate delivery, payment terms in Incoterms, UCP 600...
- Counsel on letter of Credit, insurance…
- Consel on payment documents, ways to prevent fraud in import-export payments...
- Consolidate the dossier, represente Clients to carry out procedures related to international trade such as: registering all types with commercial transaction authorities; registering circulation of pharmaceuticals and cosmetics in Vietnam; registering commercial franchising activities; apply for advertising permission...
Pack 2: Drafting, revising contract, documents
- Draft/ Revise/Give legal opinion on international sales contracts and international service contracts to control contract terms, prevent legal risks and provide guidance on many related issues in the contract;
- Participate on behalf of and/or together with clients in negotiating and signing contracts;
- Translate international documents/contracts; or Interprete in negotiating and signing contracts;
- Drafting required national and international legal documents and papers.
Pack 3: International dispute resolution
- Representing clients to resolve disputes through negotiation and conciliation.
- Representing clients to resolve disputes in Vietnamese Courts or International Arbitration in disputes.
6. Why should you retain an International Trade Lawyer in Quang Binh?
Quang Binh has soon became an international trading point in Vietnam in particular and in Asian in general due to the advantages of international transportation (seaport, airport…), the leading international trade gateway of the Central region, and its dynamic market. This creates convenience for domestic and foreign traders who want to expand their markets and access vibrant and potential markets. In that context, there are also many people who take advantage to make money, through lack of knowledge, carelessness or negligence during transactions with traders around the world.
The confusion and complexity of Incoterms rules, payment terms and opening letters of credit at banks for deposit, warranty, payment transactions... can all confuse traders. Ignorance about the legal status of partners in Vietnam is also one of the issues that foreign traders are concerned about.
That is reason why it is necessary to retain an International Trade Lawyer in Quang Binh who has all the necessary knowledge and skills by yourside. They shall help traders to understand all of the internatrional trade issues, conduct all the essential assessment and procedures as well before entering into an international transactions.
7. What essential skills are reqd in an Iuirenternational Trade Lawyer in Quang Binh?
A qualified International Trade Lawyer in Quang Binh shall assist you in avoiding legal dangers and their damages. To handle work well, an International Trade Lawyer in Quang Binh need to get the following skills:
- Have in-depth knowledge in the field of international trade, understanding ding of the trading habits and customs of many traders from countries such as the US, Australia, UK, China, India, Korea, China, Japan...
- Have flexible language abilities, the top priority is the international language English; have a professional language supporting team for other languages such as Korean, Chinese, Japanese...
- Be able to identify and predict risks in foreign trade transactions; Flexibly improvise and provide situational solutions to prevent damage and risks;
- Have professional ethics, enthusiasm and high work-solving intensity to be able to handle legal issues that arise quickly and effectively;
- Logical thinking and legal thinking skills;
- Skills in researching and analyzing legal regulations;
- Debate and criticism skills;
- Negotiation and persuasion skills;
- Emotion control skills.
8. How can find a qualified International Trade Lawyer in Quang Binh?
An International Trade Lawyer in Quang Binh, in addition to experience, also needs ethics and dedication. With the motto "Respecting justice - respecting goodwill", a team of qualified International Trade Lawyers at PHONG & PARTNERS LAW FIRM SYSTEM is ready to serve you. We have the team of lawyers and experts with many years of experience to help Clients have the best experience in international trade, contract, dispute…
You can learn more about International Trade Lawyers in Quang Binh at PHONG & PARTNERS LAW FIRM according to the following information.
PHONG & PARTNERS LAW FIRM
Phong & Partners Lawyer in Da Nang City
1. Phong & Partners Law Firm in Hai Chau - Thanh Khe
Address: 6th floor, Thanh Loi Building, 249 Nguyen Van Linh, Thanh Khe district, Da Nang.
Phone: 02363 822 678 - 0905 102 425
2. Phong & Partners Law Firm in Son Tra
Address: 01 Dong Giang, Son Tra district, Da Nang.
Phone: 0905 205 624
3. Phong & Partners Law Firm in Lien Chieu
Address: 21 Truong Van Da, Lien Chieu District, Da Nang.
Phone: 0961 283 093
4. Phong & Partners Law Firm in Ngu Hanh Son
Address: 03 Chu Cam Phong, Ngu Hanh Son District, Da Nang.
Phone: 0905 579 269
5. Phong & Partners Law Firm in Cam Le - Hoa Vang
Address: 346 Cach Mang Thang Tam, Cam Le District, Da Nang.
Phone: 0901 955 099
Phong & Partners Lawyer in Ho Chi Minh City
Add: Floor 9, K&M Building, 33 Ung Van Khiem, 25 Ward, Binh Thanh district, Ho Chi Minh City.
Tel: 0905.503.678
Email: phongpartnerslaw@gmail.com
Website: https://phong-partners.com
Fanpage: https://www.facebook.com/phongpartnerslaw
https://www.facebook.com/luatsugioinguhanhson
https://www.facebook.com/luatsusontra
https://www.facebook.com/luatsuquanlienchieu
https://www.facebook.com/LuatsuCamLe
9. FAQ related to International Trade Lawyer
(1) What documents are needed when exporting goods abroad?
When exporting goods abroad, the following documents are required:
- Required documents
- Sales Contract
- Commercial Invoice
- Packing List
- Bill of Lading
- Customs Declaration
- Documents are not required
- Proforma Invoice
- Letter of Credit
- Insurance Certificate
- Certificate of Origin
- Phytosanitary Certificate
- Some other types of documents
- Certificate of Quality
- Certificate of Analysis
- Sanitary Certificate
- Fumigation Certificate
(2) 3 important notes when entering into an international contract
Checking careful the information of your partners
Remember you are in an international transaction, the higher of the economic benefits, the higher of the risks you may bear. Therefore, it's essential to check your partner's legal status, to see exactly who you're doing business with. The fact that your partner's status is temporarily suspending business or being involved in bankruptcy proceedings can lead you into unnecessary trouble.
Clearly Important Terms
In light of the potential risk issues, it is also crucial for any key terms to be adequately defined. Some of the following terms need to be set out in an international trade contract:
- Subject of the contract
- Quality/ Specifications; Quantity/weight
- Payment terms
- Shipment/Delivery terms
- Necessary documents
- Ownership and transfer the ownership
- Violation, fine and compensation
- Termination of the contract
- Language of the contract
- Governing law
- Dispute resolution: court or arbitration
Besides, there may others terms need to be added: Warranty Packing & Marking Insurance Force Majeure Claim Patent right Installation – Test run – Commissioning – Training
Consult Internaltional trade lawyer in local
The best approach to guarantee that an international contract is legally sound is to hire qualified lawyer. This may include employing both local and international trade lawyer to guarantee that the contract has been evaluated by someone who is knowledgeable with the legislation on both sides of the border. In certain situations, an international trade lawyer may already have a relationship with a lawyer in another country with whom they may cooperate. Anyway, it attempts must be taken to find someone who can give sound legal counsel in order to avoid an international contract catastrophe.
(3) What are the most common disputes during international trade
From a general contract perspective, the contract will have provisions on goods delivery, service provision, payment obligations, and other obligations under the contract, and disputes will also arise from here. As international trade contracts, there are specific disputes that are quite similar, for example:
- Disputes relation to delayed implementation of payment obligations under contracts for purchasing goods and providing services;
- Disputes about delayed performance of delivery obligations;
- Dispute over delay in performing work under the Service Contract;
- Disputes over goods quality and product quality;
- Disputes over the application of force majeure conditions;
- Disputes due to temporary suspension, unilateral or suspension of Contract implementation;
- Disputes over the governing law;
- And other related disputes.
(4) International Trade Disputes, should you choose Court or Arbitration?
Dispute resolution by court and arbitration has the following advantages and disadvantages:
|
Methods/Criteria
|
Resolve disputes by Court
|
Resolve disputes by arbitration
|
|
Advantage
|
- The cost to resolve a commercial dispute through Court will be lower than arbitration;
- The Court's judgment has high enforcement value because it is enforced by the power of the State;
- Strict procedural procedures according to the provisions of law.
|
- The procedure is simple, quick, and saves time and money for both parties;
- The Arbitrator's decision is final and cannot be appealed or protested against;
- Ensuring more confidentiality than the Court, business secrets and confidential information of the Enterprise will be guaranteed not to be disclosed;
- The parties can choose an arbitrator, so they can choose experts with high expertise and practical experience.
|
|
Defect
|
- Rigid, inflexible and lengthy procedures;
- Publicity of judgment is not suitable for commercial business activities because it can easily affect business secrets as well as the reputation of the enterprise;
- The ruling can be appealed, leading to a prolonged dispute.
|
- Arbitration costs are often higher than court costs;
- Both parties must have a valid and enforceable arbitration agreement;
- The success in arbitration depends on the attitude and cooperation of the disputing parties;
- Arbitration's enforcement is often not as high as that of a court in Vietnam in fact.
|
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PHONG & PARTNERS LAW FIRM
Phong & Partners Lawyer in Da Nang City
1. Phong & Partners Law Firm in Hai Chau - Thanh Khe
Address: 6th floor, Thanh Loi Building, 249 Nguyen Van Linh, Thanh Khe district, Da Nang.
Phone: 02363 822 678 - 0905 102 425
2. Phong & Partners Law Firm in Son Tra
Address: 01 Dong Giang, Son Tra district, Da Nang.
Phone: 0905 205 624
3. Phong & Partners Law Firm in Lien Chieu
Address: 21 Truong Van Da, Lien Chieu District, Da Nang.
Phone: 0961 283 093
4. Phong & Partners Law Firm in Ngu Hanh Son
Address: 03 Chu Cam Phong, Ngu Hanh Son District, Da Nang.
Phone: 0905 579 269
5. Phong & Partners Law Firm in Cam Le - Hoa Vang
Address: 346 Cach Mang Thang Tam, Cam Le District, Da Nang.
Phone: 0901 955 099
Phong & Partners Lawyer in Ho Chi Minh City
Add: Floor 9, K&M Building, 33 Ung Van Khiem, 25 Ward, Binh Thanh district, Ho Chi Minh City.
Tel: 0905.503.678
Email: phongpartnerslaw@gmail.com
Website: https://phong-partners.com
Fanpage: https://www.facebook.com/phongpartnerslaw
https://www.facebook.com/luatsugioinguhanhson
https://www.facebook.com/luatsusontra
https://www.facebook.com/luatsuquanlienchieu
https://www.facebook.com/LuatsuCamLe
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