Contract

A franchise agreement is just like any other contract – it sets out the rights and obligations of each party and provides appropriate remedies if either party fails in their obligations.

There will be many occasions in business when it is necessary to negotiate. Indeed, we do this all the time and often the exchange is continual and goes unnoticed.

Many firms, especially those that focus on design and problem-solving, sub-contract the manufacture, and maybe other functions as well, to specialist contract manufacturers.

This note has been prepared to assist you to think about the risks that you might face when engaging in international trade or investment. Whilst some of the risks may apply more broadly, this fact sheet does not attempt to cover all aspects of business risk.

The import and export of goods requires a written contract. The terms of this contract must be clearly understandable by both the exporter and the importer, even if they do not speak the same language, and even if their two countries have different business practices and legal systems.

The Harmonised Commodity description and Coding System, usually abbreviated to the harmonised system (HS), is an international nomenclature for the classification of products.