Question

1. Your company is entering into a contract with an overseas company. Without further information, name two (2) legal, two (2) ethical, and two (2) contractual considerations you would likely include in your deliberations. Please do not use my exact sample language found below (lengthier examples lost when Blackboard logged me out).

please answer with bullet points

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Answer 1

Answer-

The two main legal considerations that a company must consider while entering into a contract with an overseas company include fare and import laws (trade limitations) and labor laws. A company must understand the legal techniques pertaining to fare and import while entering into a contract.

A few nations fill in as tax haven attracting international investors to establish their business. Henceforth an analysis of fare and import legal systems is a necessary legal prerequisite. Work and labor laws pertaining to the nation of the overseas company is another legal consideration as representatives are required for the daily operations. Thus while entering into a contract, labor and business laws must be examined.

The two main ethical considerations that a company must consider while entering into a contract with an overseas company include culture and language. Cultural contrasts determine the achievement or failure of an overseas contract. The item that is sold because of the contract with an overseas company must cater to the tastes and inclinations of the local market.

This will add more value to the contract and guarantee achievement. Language contrasts are crucial as they have an immediate impact on the advertising and marketing activities of the company in selling their item overseas.

The two main contractual considerations that a company must consider while entering into a contract with an overseas company include security and transport considerations. Security of items and payments must be guaranteed in an overseas contract. Guarantee securities issued by individual banks are to be prepared while performing overseas cash transactions to guarantee security.

Transport is another vital consideration to guarantee that items reach on time without any imperfections. The method of transportation (Air, Road, Sea or a combination) is finalized in the contract. Insurance for products in transit also plays a major job in the transport of merchandise in an overseas contract.

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