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Offers and contracts

Offers and contracts. Wybren Bouwes. Offers. Start: enquiry Confirm enquiry and give date of reaction. credentials creditworthiness authorization. Branch organisations Banks Trade registers Yellow pages Websites colleagues. Check on your (possible) partner:. Offers. Check:

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Offers and contracts

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  1. Offers and contracts Wybren Bouwes

  2. Offers • Start: enquiry Confirm enquiry and give date of reaction

  3. credentials creditworthiness authorization Branch organisations Banks Trade registers Yellow pages Websites colleagues Check on your (possible) partner:

  4. Offers Check: • Buyers objectives and needs • Buyers market requirements • Buyers marketing approach

  5. Pro forma quotation: • -date of quotation • -complete name and address both parties • -product specifications/references/certificates • -price per unit • -quantity/ max. number • -total amount offer • -terms of delivery and payment • -shipment mode, volume ,carrier • -validity of quotation • -waiver (without obligation, subject to confirmation)

  6. Offer • Europe ≠ USA • Intentions matter • Be careful with “small print” (general sales conditions) Standard escape clauses

  7. From offer to contract • Negotiation: know your bottom-line

  8. Contract • Offer accepted : contract ( = agreement between parties) Sales contract formalises all elements of agreements.( addendum if new elements)

  9. Contract • Avoid differences of opinion: trough clear negotiations trough open communication by being honest

  10. Contract • If disagreement ( refusal to pay): - renegotiate, try to minimize losses - negotiate with third party assistance - give legal warning - take legal action

  11. Contract Disputes ArbitrationCourt of law specialist legal specialist time consuming ? faster expensive ? cheaper

  12. Applicable law and disputes “Any disputes arising out of or in connection with this contract shall be finally settled in accordance wit the Rules of Conciliation and Arbitration of the International Chamber of Commerce in Paris. This contract shall be governed by and construed in accordance with the laws of The Netherlands”

  13. Disputes: A court will always try to discover the intentions of the contracting parties.

  14. Contract • Ask lawyer to check • Use uniform conditions: - Inco terms - Uniform Customs and practice for Documents - ICC - ICC arbitration

  15. Documents • To be provided by seller: -signed commercial invoice (3x) -bill of lading -certificate of inspection -packing list -set of negotiable insurance

  16. Contracts • Force majeure: an inevitable ,unpredictable act of nature, not dependant on act of man.

  17. Product liability • Product: any movable negotiable product • Defect: not meeting acceptable standards also: insufficient warnings Producer can be held liable

  18. Product liability • Prevent damage: - keep safety in mind - maintain files - maintain safety procedures - maintain quality systems - inform - contract

  19. Product liability • What to do in case of claim or dispute: -call in experts -who produced/bought product -who is claiming -product defective or used incorrectly -conformity EU regulations -when discovered -extend of damage -product recall

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