Drafting Terms and Conditions of Foreign Trade Contract with Chinese Counterpart

Abstract

Concluding a contract for the supply of goods and services is an integral part of a foreign trade transaction. Russia - China relations have been expanding in many areas over recent years, including trade and economic cooperation. Concluding contracts with suppliers from the People’s Republic of China requires awareness of the Chinese specifics and the most complete and correct wording of the transaction conditions when drawing up a legal document, i.e. a contract. First and foremost, it is necessary to inspect the China company incorporation certificate, draw up a contract in Chinese, and make sure each page of the contract is affixed with the company chop (seal), and so on. If these and other conditions are complied the contract is considered concluded and the rights of both parties will be protected.