Contract

[Kansta]

I've just done a deal with a company in Israel.

They have agreed to my terms but asked me to make a small contract for us to sign.... will it hold any water?

If not, whats the best way to go about it as I dont want to bring them all the business and then they tell me where to go a few years down the line.

 

[BLintl.]

Contract is always good to have. If things go wrong, you will have a paper where all terms of your cooperation are stated. It is also advisable to check the company before signing any agreement with them.

 

[Kansta]

I appreciate its good to have a contract.

But what i'm asking is if I should make one, or have one made for me.... and also, will it stand up in court if the situation should arise?

 

[BLintl.]

The contract can be prepaired either by your counterparty in Israel or by you, it does not really matter. Just be sure that you are happy with all terms and conditions and if you have any dispute, where the case will be taken into court.

If you have a conflict with your counterparty the contract is the paper number one the court will look at.

What we always advise is to check your future partner. If the company has no money or assets to stand for its obligations and compensate your the losses, the court decision will mean nothing. They can go bankrupt and you will receive no compensation.

Of course, depending on the money involved you can ask a lawyer to prepare the contract.