What are the main rules of the language used in international contracts?
Use clear straightforward verbs, short sentences in active voice
What should be included in an international contract?
the names and addresses of the parties, fixation of price and details of payment, limitation of liability, remedies in case of breach of duties, an arbitration
Why should contract negotiating be done before the drafting stage?
For the terms to be clear
What effects can legal disputes over contracts have on a company?
Disputes may be lost in court. They can also be expensive, time consuming and detrimental to the reputation of a company
Explain the difference between these pairs of words: terms / clause, comprise/include
terms - the conditions that are part of an agreement or arrangement / clause - a part of a contract, comprise - to consist of: / include - to contain something
Name a few tips for successful negotiations
Wait after each offer, get it in writing, have a fall-back plan, know your bottom line
Why is it a good idea to use standard clauses when drafting a contract?
Such clauses are familiar to both sides and save valuable time and are likely to cover the important points
What are the typical mistakes in contacts?
Different date formats, mistakes in currencies
Choose a world from the list and explain its meaning. Let the teacher guess the word you've explained: detrimental (adj), dispute (noun), liability (noun), remedies (noun), a breach, force majeure, to commence, ambiguity,
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What are the general recommendations for those who are drafting a contract for the first time?
Draft a written contract that is as complete and as precise as possible