Dealing with the legal sides of Export
Exporters should be aware of legal issues relating to international trade. These can be:
- Enforcement of Contract
Read and understand every clause of any contract you sign with a buyer from another country. Check the enforcement and dispute resolution clause. Which Court has the precedence?
- Trade Policies
Always follow developments on issues governing trade with the target country. These can be bilateral, regional and multilateral. They define the market access conditions for your products and services.
- Intellectual Property Rights
As an exporter you should always protect your intellectual property rights in the territories you are doing business in. Check the IP legislations and consult the IP Office.
- Sanctions and Prohibitions
Most countries have a restricted list of products which are prohibited for health, national security, moral and environmental reasons. Some country have travel sanctions to high risk-areas.
Be mindful of not dealing with persons or organisations connected with terrorist activities.
- Fraud and Corruption
Fraud and corruption are crimes punishable by law under defined statutes. Know these laws and avoid getting involved in any such activity.