Contract countertrade
Enters into contracts for the supply of goods in countertrade contracts are similar to the conduct of unrelated export and import transactions.
However, they have a number of features. Mention of them in summary form, as well as the conditions which are included in an agreement on counter delivery.
At the same time contracts for the counter, and if these contracts, there is no evidence for a connection between them, formally, these contracts will be considered independent of each other. But if the parties want to give them the legal nature of deliberately link the conclusion of the two contracts, ie, when they wish to formalize contracts in two directions as a counter-trade transaction, the parties should also conclude an agreement on counter trade, which expresses this relationship. It has a more complex content, if the parties intend in future to conclude one or more contracts to counter export. Approval of the text requires lengthy negotiations.
Problems associated with providing insurance and financial contracts in the counter-trade, have a number of features. Thus, the number of insured commercial risks include, in particular, the insolvency of the importer, importer of termination of the contract before the shipment of goods, the refusal of the importer to take delivery of the goods.
The volume of commitments relating to countertrade often defined in monetary terms, as a percentage of the price of goods to be delivered in the opposite direction. The agreement should specify the duration of the permissible period of performance (indicate the date of its commencement and expiration). It is usually indicated type of goods to be purchased for future contracts. You can not always explicitly set all the terms of contracts to be concluded. The agreement establishes a procedure is sometimes the control and registration of performance of obligations under counter trade (especially useful for long-term deals).