Foreign Trade Contract: How to Draft an Agreement That Protects Your Business
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The document regulating such relationships is a foreign economic agreement, or FEA contract—a document that you, as a business owner or representative, will need to sign if your counterparty is located in another jurisdiction.
It can be concluded for the supply of goods, performance of work, provision of consulting, marketing, IT, transport, and other services, transfer of intellectual property rights, distribution, or execution of a joint project.
This is not merely a piece of paper to sign containing a price and payment deadline. It is the primary document that will define your relationship with the counterparty and serve as your protection in the event of a dispute. Moreover, such situations can be significantly complicated by factors such as the use of different currencies, operating in distinct jurisdictions, and other challenges.
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