Beginner's legal guide to selling overseas (Aug 15, 2023)
Beginner's legal guide to selling overseasMany of our clients have had great success with their domestic business, and often for high-growth companies the next step is international expansion through sales overseas. But if you're planning to take your business global, what are the rules of international trade?To get more news about Legal assistance for foreign businesses in Shanghai, you can citynewsservice.cn official website.A quick overview If you've already got a thriving business in the UK, congratulations! You've already got your head around issues such as trading licences and paying tax. You've also got a process in place to deal with queries, returns and refunds, and any problems with your products or services.Now that you've set your sights on selling overseas, what do you need to think about? What changes might you need to make to comply with local laws in the countries where your buyers are based? And how do you deal with issues such as protecting your intellectual property and dealing with legal disputes?Consider the likely scale of your overseas operations before you make your first sale. If your aim is for your overseas business to make up a large proportion of your overall turnover, you should carry out some due diligence first. Visit your chosen markets to understand local commercial customs and practices. Meet your potential customers in person and assess their creditworthiness. Research any laws that may apply to you and seek expert local legal advice if necessary.You can also contact companies already operating in your target market and ask them about any restrictions they face and the practicalities of selling there.Once you're ready to move, you'll need to change your terms and conditions and adapt your processes and procedures accordingly. Your website will need to reflect your new international status. You'll also need to understand some basic rules of contract drafting and the cultural nuances of contract negotiation. Trade restrictions You usually don't need any special licences to export products. However, some things do, such as weapons, food and animal products, medicines and chemicals, artefacts and antiques. Research local laws in your target countries to understand what rules apply, and keep up to date, as restrictions, tariffs and sanctions can change at short notice. Your contracts should specify who is responsible for obtaining any necessary licences. If you have chosen to incorporate Incoterms® (see Uniform Commercial Terms below), a set of standard rules, this may be you, depending on the category of goods. Export contracts If your overseas business is unlikely to be significant, you can probably simply add additional export clauses to your domestic terms and conditions.However, if your overseas business will be substantial, you'll need some standard terms and conditions that apply only to export sales. International sales law and dealing with foreign business practices is a complex area and getting it wrong can be expensive. You'll find it difficult to cover all eventualities with just a few special clauses in your standard terms and conditions. You need to make sure you're protecting your business by creating a bespoke set of export terms and conditions.
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