STAGES OF AN INTERNATIONAL CONTRACT

 STAGES OF AN INTERNATIONAL CONTRACT 

An international contract has mainly 5 stages.

1. ENGAGEMENT PHASE. This includes gathering information about the parties to the contract, their address, location, directors and every useful information connected to it. It also includes gathering data on the purpose of the contract, the subject matter, and the short and long term relationships.

2. ANALYTICAL PHASE. This mainly includes checking the collected data for compliance with the legal system underwhich the contract is governed, and the requirements of the parties. It also includes assessing the safety of your interests in the said contract.

3. DRAFTING PHASE. Here you first select thr language of the contract. Use clear and unambiguous words in the simplest language possible. If the contract is in two languages (with a translated part), choose which language shall prevail in case of ambiguity.

4. EXECUTION. The parties append their signatures to the contract. Ensure that the person appending his signature has locus to enter that particular contract. In case of a company, let the company sesl be affixed.

5. CONTRACT ADMINISTRATION PHASE. This is the final phase of the contract and one must pay due attention to enforcement of the terms.


This is just a brief. I am soon sending out videos on my  YouTube channels . Search for: Prosper Ahabwe or Ahabwe the Economic Beast.

ahabwejprosper21@gmail.com 

+256778379076 

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