An export contract is a contract or a legal document which is made when a party called the exporter agrees to export goods or services to another party which is called the importer. These contracts consist of the various covenants and promises made by the parties to each other and also other important aspects such as the effective date, termination date, details of goods or services to be exported etc. Any export contract is a formal document and hence it must be framed in a well formatted and detailed way. If you are facing confusion or problem in drafting an export contract then the following given points and suggestions shall be of importance.
- An export contract must be started by mentioning the effective date or commencement date on which the contract shall become legally effective.
- This must be followed by giving the titles given to the party (EXPORTER AND IMPORTER) and the names of the respective parties or persons.
- The details of both the parties such as their contact address, contact number, fax number, email address etc must also be clearly mentioned in the contract document.
- One of the most important parts of any export contract is the details of the entity or good to be exported and imported. The quantity, price per unit, total amount etc must be mentioned as well.
- It is important to discuss in detail the method of payment and various other details such as date of receiving payment etc must also be given.
- The ‘terms and conditions’ form the most integral part of any contract. Here the various terms must be mentioned in bulleted points and each of the point must be well detailed and legally effective.
- The terms and conditions must be followed by the signatures of the involved parties along with the signatures of the witnesses or legal aids.