There's a popular children's song played at Disney World's Magic Kingdom called "It's a Small World." An earlier generation might remember the song from the 1964-1965 New York World's Fair. The song's beautiful lyrics teach children just how small the world is, in terms of how much we have in common with others from all over the world. But when it comes to international contracts, the world isn't so small. Distances are vast and this can become an issue in contract disputes.
When people read contracts, they start at the beginning and work their way back. By the time they get to the end of a thirty-page contract, their eyes may have tired. One paragraph of the contract might start to look like the other. But sometimes the back end of the contract might contain some of the most crucial provisions. One of these is the forum selection clause. That's a fancy term for the notion of, "Where will we go to court if things go bad in our business relationship?" These clauses are important because they are generally in very small fine print and often in the last paragraphs of a long contract. But it could become an important issue when an agreement is made that involves different companies headquartered in New York, incorporated in Delaware, with factories in Istanbul, warehouses in England, and shipping companies based in Spain and Denmark. The fine print in these types of clauses outline which nation's courts and which nation's laws apply. If a deal goes bad, these clauses can be critical for the outcome of a matter. That's why it pays to read a contract carefully and be aware of such terms beforehand. Good luck - Kendinize Iyi Bakin, Timur Akpinar, (718) 224-9824, <a href='mailto:[email protected],'>[email protected],</a> www.benimavukatim.com
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