Team management models
Posted: Sun Jan 19, 2025 8:21 am
Among other things, clarify information about the management team, the owner himself and employees (position, competence, rights to conclude transactions, etc.) authorized to represent the company in business negotiations.
The Vienna Convention prescribes the principle of good faith in the construction of international trade relations, and serious foreign companies are well aware of this. Good faith means establishing business in accordance with generally accepted rules of business ethics. Information regarding the legal form of the company, its statutory greece business email list legal capacity, production capacity and trade opportunities must be reliable.
As for the practical side of the issue, good faith on the part of foreign counterparties is not always observed. Information available to Russian partners often turns out to be inconsistent with reality. For example, it happened that the partner company was not registered and was not located at the specified address and it was impossible to find it.
Source: shutterstock.com
Or it turned out that the foreign representative was negotiating on behalf of the company, but not only was he not authorized to do so, but also had no relation to the company at all. This was an obvious impostor, calling himself a representative of a reputable company, which in fact did not send authorized persons to negotiate and did not participate in transactions with Russian participants in foreign economic activity.
Before signing a contract with a foreign counterparty, it makes sense to obtain precise information about the authorized representative who will conduct negotiations and conclude the transaction. Plus, documentary confirmation of the authority of this person is required (charter, memorandum of association or power of attorney).
Usually, the names of people empowered to negotiate and sign contracts on behalf of the company are mentioned in the constituent documents of foreign companies. Otherwise, a written power of attorney is issued in the name of the person authorized to conduct commercial transactions. It should be borne in mind that letters of recommendation are not a legal document and do not provide authority to conduct business.
It is essential to collect information about the bank (exact name, details) with which the foreign partner works. In addition, find out by inquiry whether the bank is ready to issue payment guarantees, accept a draft, provide credit or perform other settlements in relation to a specific company.
It would also be a good idea to learn more about foreign manufacturers of the product group you are interested in and consider them as the most preferable sellers for cooperation.
The Vienna Convention prescribes the principle of good faith in the construction of international trade relations, and serious foreign companies are well aware of this. Good faith means establishing business in accordance with generally accepted rules of business ethics. Information regarding the legal form of the company, its statutory greece business email list legal capacity, production capacity and trade opportunities must be reliable.
As for the practical side of the issue, good faith on the part of foreign counterparties is not always observed. Information available to Russian partners often turns out to be inconsistent with reality. For example, it happened that the partner company was not registered and was not located at the specified address and it was impossible to find it.
Source: shutterstock.com
Or it turned out that the foreign representative was negotiating on behalf of the company, but not only was he not authorized to do so, but also had no relation to the company at all. This was an obvious impostor, calling himself a representative of a reputable company, which in fact did not send authorized persons to negotiate and did not participate in transactions with Russian participants in foreign economic activity.
Before signing a contract with a foreign counterparty, it makes sense to obtain precise information about the authorized representative who will conduct negotiations and conclude the transaction. Plus, documentary confirmation of the authority of this person is required (charter, memorandum of association or power of attorney).
Usually, the names of people empowered to negotiate and sign contracts on behalf of the company are mentioned in the constituent documents of foreign companies. Otherwise, a written power of attorney is issued in the name of the person authorized to conduct commercial transactions. It should be borne in mind that letters of recommendation are not a legal document and do not provide authority to conduct business.
It is essential to collect information about the bank (exact name, details) with which the foreign partner works. In addition, find out by inquiry whether the bank is ready to issue payment guarantees, accept a draft, provide credit or perform other settlements in relation to a specific company.
It would also be a good idea to learn more about foreign manufacturers of the product group you are interested in and consider them as the most preferable sellers for cooperation.