Individual employer Myrimov A.A.,___ , Russia, hereinafter referred to as the "Buyer", and company _____________, Italy, hereinafter referred to as the "Seller", represented by Mr. _______________, have concluded the present Contract for the following:
1. SUBJECT OF THE CONTRACT.
1.1. The Seller is selling and the Buyer is purchasing the equipment: 4 (four) second hand twisters mod. T2TR-99, according to the Annex N.1, which is an integral part of the Contract, hereinafter referred to as “the Goods”.
2. PRICES AND THE TOTAL AMOUNT OF THE CONTRACT.
2.1. The price of the Goods is defined in EUR: 14,000.00 EUR/one machine. Total Contract Price: EUR 56,000.00 (fifty six thousand euro).
2.2. The price is to be understood FCA - Crespellano
2.3. The Buyer bears all costs arising from customs clearance of the Goods.
2.4. The price of the Goods remains fixed on all validity of the Contract.
3. CONDITIONS OF PAYMENT.
3.1. Payment upon the present Contract is effected by the Buyer in the following way:
- 30% advance payment for amount of EUR 16.800,00 payable within 15 days from the signing of the present contract.
- 70% advance payment for amount of EUR 39.200,00 payable before shipment of the Goods
4. TERMS OF DELIVERY
4.1. The Seller supplies the Goods to the Buyer on FCA - Crespellano terms (according to INCOTERMS - 2000).
4.2. Terms of delivery of the Goods: within 30 days from the advance payment receipt.
4.3. The Seller is obliged to transfer with Goods to the Buyer the following documents:
- Invoice - 4 originals;
- Packing List - 2 originals;
- CMR – 1 copy;
- Technical documentation of the Goods -1 copy.
5. FORCE-MAJORE
5.1.The Parties will be released from their responsibility for partial or complete non-execution of their liabilities under the present Contract, should this non-execution be caused by the following circumstances: fire, flood, earthquake or other natural phenomena as well as war actions, blockade, prohibition acts of higher state and executive bodies or other circumstances which are behind the Parties control under the present Contract. Terms of their obligations fulfillment should be extended for a period equal to that during which such circumstances last.
Thus the term of execution of obligations under this Contract is moved in proportion to the time of actions of such circumstances and their consequences.
5.2.The Party which is unable to fulfill its obligations under this Contract is to inform immediately, but not later than in 15 days, the other Party in written form on the occurrence and cessation of the above circumstances, which hinder from the contract partial or complete fulfillment.
The corresponding Chamber of Commerce should confirm the above-mentioned notification. In case the suffered party doesn't do such a notification within the indicated period, it denudes it of the right to make reference to such circumstances.
5.3.If as a result of force-majeure circumstances delay in delivery of one party will be more than 2 (two) months, the other party has a right to annul the Contract or any of its parts. However, using such a right, the parties can meet and to come to an agreement concerning conditions of avoidance.
6.ARBITRATION
6.1.Any disputes arising from this contract or in connection with it should be settled between the parties by negotiations.
6.2.If both parties cannot come to an agreement, the International Commercial Court of Arbitration at the Chamber of Commerce in Sweden, Stockholm shall decide the dispute in accordance with its rules.
6.3.The decision of the International Commercial Court of Arbitration shall be final and binding for both parties.
7. OTHER CONDITIONS
7.1.Any amendments and additions to this contract shall be made in writing, signed by an authorized representative of the present contract, and in this case they should be an integral part of the contract.
7.2.The integral part of the given Contract is: the Annex N. 1
7.3.This contract as well as other documents may be manually signed and transmitted by fax or e-mail. If legal addresses or bank details change, both parties shall give notice within 5 days by fax or telegraph.
7.4.This contract is signed in 2 copies, in the Russian and English languages, one copy for each party, both texts being equally valid.
7.5.This Contract is valid until 12/31/2010.
8. LEGAL ADDRESSES OF THE PARTIES
The Buyer:
Individual employer Myrimov A.A. Russia, _________________________________
Tel./fax: +7 (___) _______
Taxpayer Identification Number ________.
The Buyer's bank: ______________
SWIFT: _______________
Transit currency account No. __________.
The Seller: "___________"
ITALY _______________
Tel.: +39 (_____) _____ Fax: +39 (____) ________
The Seller's bank: _____________
BOLOGNA - ITALY
ACCOUNT NR. ____________
SWIFT BIS: ______________
___________________ S----- S------
(Executive Director)
ANNEX N. 1
To the Contract No. 101-10 dtd "23" March 2010
TECHNICAL SPECIFICATION FOR 4 SECOND HAND TWISTER WINDER MOD. T2TR-99 (COMPLETELY RECONDITIONED)
Machine suitable for making multi-threaded twisted yarns from 5000 up to 100000 deniers from synthetic and natural fibers.
Starting from yarn spools or bobbin.
D.C. driving motors.
TAKE-UP MANDREL for the production of SPOOLS WITHOUT TUBE
Screw box complete with ratios change for spools 10"
Dimensions, cm: 290X120X150
Gross weight, kg: 1220
ELECTRICAL SPECIFICATIONS: Net tension 380 V 50 Hz 3-Phase
THE SELLER _____________
THE BUYER _______________
When concluding a foreign trade transaction, it is important to spell out all the conditions foreign trade contract: price, obligations of the parties, content of the foreign trade contract. For an example and drafting example, see the article.
Conclusion of a foreign trade contract
Domestic companies are sometimes ready to enter into a foreign trade transaction (export and import of goods, works and services), without completely working out the terms of the foreign trade contract and its details:
- without checking the existence, reliability, powers of the counterparty;
- with advance payment of import supplies without ensuring return;
- with the delivery of goods for export without prepayment and a significant deferment of payment.
They agree to conclude foreign trade contracts, in which the emphasis is far from being in favor of the Russian side: the rights of the foreign partner are described in detail with a minimum of his responsibilities, while the responsibilities of the Russian side are disproportionately greater than its rights. But one such foreign trade transaction can lead to the insolvency of the enterprise. It must be remembered that the final result of cooperation with a foreign company depends on the correct drafting of a foreign trade contract, especially in terms of distribution of costs.
But before we consider the features of drawing up a foreign trade contract, let’s talk separately about the language barrier. To avoid this, find a translator who specializes in commercial law. Instruct him to translate the clauses of the contract as close to the meaning as possible. At the same time, re-read the text in Russian yourself and try to check the translation - it should be understandable to you and your specialists. Take a translator with you when discussing the terms of a foreign trade transaction with your counterparty. In this case, he will understand the meaning of the contract, its context, and make the translation as accurate as possible. If the translation is performed outside the negotiation process, demand that the translator ask you the maximum number of questions. The absence of questions is a signal that the risk of poor-quality translation may be very high.
A good translator will advise you to slightly “remake” the text in the original Russian language so that the wording is completely equivalent. But do not translate the meanings of bank details - always indicate them only in English and better in capital letters. Do not translate company names. If you don’t know how to write the counterparty’s address in Russian, then write in the counterparty’s language. When concluding a foreign trade contract, indicate in a separate clause the languages in which it is drawn up. The issue of priority of language can be a stumbling block in arbitration disputes in case of discrepancies in the meaning of words. Which language should be given priority is a matter of negotiation. In our practice, it is common to draw up a foreign trade contract in two languages: Russian and English. The latter is usually accepted by everyone.
When concluding a foreign trade contract, it is important to take into account some features.
Feature 1. Money matters
Indicate the contract currency and its abbreviated code from the classifier (there should not be just rubles, dollars and dinars - you need to indicate “Australian dollars”, “Belarusian rubles” and “Kuwaiti dinars”). Fractional parts of the currency (cents, kopecks and fils) are not used in formulations, since in international settlements a clear amount format has been developed in words.
Separately specify the currency of payments (it may not coincide with the currency of the contract price).
Clearly state the conditions, terms and mechanism for returning advance payments in the event of non-delivery of goods or failure to perform work (failure to provide services). To avoid significant fines, provide bank guarantees for the return of the advance payment or non-fulfillment of the contract, use secure settlements - payment under a letter of credit. Do not agree to 100% prepayment for a transaction with an unfamiliar counterparty.
Sometimes, in order to make a decision on the use of “protected” forms of payment in the form of a bank guarantee or letter of credit, the results of an analysis of the financial condition performed on the basis of financial statements your counterparty. In our practice, there are cases where the results of such an analysis allowed us to take a completely different look at your future partner and take all measures related to minimizing the risks of non-repayment of the advance payment upon import, or non-payment for goods shipped for export. However, in this case, be prepared for the fact that similar financial statements will be requested from you. Also request an audit opinion based on the results of an audit of your partner's financial statements. You can go even further: analyze the financial condition of not only your future partner, but also the bank that serves your foreign counterparty. The presence of a negative rating of the servicing bank may create a threat of non-payment.
Describe in detail the distribution of banking expenses. Of course, this is a subject of agreement between the parties, and it is difficult to predict which wording will suit your partner.
The presence of the wording described in the example in the future will allow the transaction to be “closed” for the purposes of applying tax and currency laws. This is relevant if, for example, revenue is credited to your current account in full, minus the withheld bank commission.
Feature 2. Terms and conditions of delivery of a foreign trade contract
Indicate in detail the place of delivery with reference to the basis from Incoterms (eng. Incoterms, International commercial terms, international rules in dictionary format, providing unambiguous interpretations of the most widely used trade terms in the field of foreign trade).
|
Example Prices under this Contract specified in Appendix No. 1 to this Contract are set in euros and are understood on EXW delivery terms, federal Republic Germany, Leipzig, warehouse Geo Sys GmbH (Incoterms 2010).” Another variant: The Seller delivers the Goods under the following conditions: DAP, Republic of Uzbekistan, Tashkent region, Bekabad, st. Sirdaryo, 1, customs warehouse of Uzmetkombinat JSC (Incoterms-2010).” It would be a good idea to add the following paragraph: For the purposes of this Contract, the phrase “Incoterms” means the original text of the International Chamber of Commerce (ICC) Incoterms® 2010 Rules for the Use of National and International Trade Terms (ICC Publication No. 715, 2010 edition). |
The parties to a foreign trade contract for the sale and purchase of goods have the right to choose any version of the Incoterms rules for their contracts, and it is important to clearly indicate the selected version of the rules: “Incoterms-2010”, “Incoterms-2000”, “Incoterms-90” and so on. Next, describe the order of delivery of goods, that is, the completion dates of deliveries and (or) the delivery schedule for specific batches of goods.
Please note that the absence of a ban on partial deliveries of goods may increase your costs for acceptance and (or) transportation of imported goods.
Specify in a separate paragraph the moment of transfer of ownership (the procedure for determining the date of transfer of ownership). This is important because in accounting and tax accounting, accounting entries (entries) will be made on the corresponding date. This is only relevant for goods and intellectual property.
For the purposes of preparing financial statements under IFRS, the moment of transfer of risks and benefits is important, which often coincides with the moment of transfer of ownership. However, if reporting under IFRS is relevant to you, then it is better to separately indicate the moment of transfer of risks and benefits, or indicate that it corresponds to the moment of transfer of ownership.
Write down the level of quality that you need, as well as the warranty period that you agreed on.
A separate point is the procedure for calling the parties in case of detection of deficiencies. It is necessary to indicate in the contract a clause stating that your competent representative is obliged to be present at:
- documenting the fact of inadequate quality of the Product;
- establishing the causes of its malfunction;
- developing proposals to resolve the problem.
This can significantly reduce penalties associated with the delivery of Goods of inadequate quality, and will also reduce your losses, both in the form of actual damage and lost profits.
Feature 3. Rights and obligations of the parties to a foreign trade contract
Be sure to clearly state in the foreign trade contract the counterparty’s responsibility to you. It would be correct if the parties’ responsibilities were “mirror” according to the terms. For example, you are responsible for late delivery of goods, your counterparty is equally responsible for late payment, or vice versa. Prescribe a detailed scenario of the parties’ actions in the event of force majeure circumstances.
|
Foreign trade contract: sample “In the event of any force majeure circumstance (strike, fire, flood, earthquake, epidemic, the adoption of government regulations during the validity period of this Contract that impede its execution and other force majeure circumstances), which directly affects the performance of this Contract, the delivery time provided for in this Contract will be extended accordingly for the period of such circumstances. The parties undertake to immediately inform each other by telegram about the beginning and end of force majeure circumstances that impede the execution of this Contract. Such information must be confirmed by the Chamber of Commerce and Industry or other competent authority of the country in which the force majeure event occurs. If such information about the beginning and end of these circumstances is sent later than 14 (fourteen) calendar days, The Seller and the Buyer are deprived of the right to refer to them in the future. If the delay in delivery due to force majeure continues for more than six (6) months, the Buyer will have the right to cancel this Contract in whole or in part without any compensation to the Seller for costs or damages associated with such cancellation. In this case, the Seller undertakes to return to the Buyer all amounts transferred under this Contract within 30 (thirty) calendar days from the date of receipt of the notice of termination. Before exercising this right, the parties will meet and try to resolve the issue amicably." |
It is better to inquire in advance which competent authority will testify to circumstances of force majeure (force majeure) in the territory of the relevant state along the entire route of the Goods. In Russia, this is the Chamber of Commerce and Industry of the Russian Federation (Article 15 of the Law of the Russian Federation “On Chambers of Commerce and Industry in the Russian Federation” dated July 7, 1993 No. 5340-1). If possible, insist on substantive law in the court of your country, indicating the place of consideration of the dispute. According to the latest data, previously universally recognized international courts have begun to show their political bias when making verdicts.
Many chambers of commerce and industry have their own arbitration courts. There is such an arbitration court at the Perm Chamber of Commerce and Industry. You have the right to offer your foreign partner the arbitration court that suits you to a greater extent, and which, in the event of a dispute, will be associated with the least amount of legal costs and (or) with the minimum time for consideration of the dispute.
Don't forget to indicate which country's laws apply in case of disputes.
Ask your lawyer if he knows, for example, English and/or Italian law. If not, insist that the laws of the Russian Federation be applicable to your foreign trade contract. Otherwise, if a dispute arises, you will inevitably have to resort to the expensive services of external lawyers and consultants.
Ilya Ivanov, expert of the Perm Chamber of Commerce and Industry. Experience in the field of foreign economic activity - more than 13 years. He has a certificate for the qualification "Professional Financial Manager, module "IFRS and Financial Accounting" ("The Institute of Certified Financial Managers" / Institute of Certified Financial Managers, Great Britain), a certificate of a professional accountant for the qualification "Chief Accountant" ("Institute of Professional Accountants and Auditors" Russia" under the Ministry of Finance of the Russian Federation).
Mikhail Gorodilov, director of the department of economic, financial and accounting expertise of the Perm Chamber of Commerce and Industry. In the field of economics and finance - since 1996. Currently director of the department of economic, financial and accounting expertise of the Perm Chamber of Commerce and Industry. Has the qualification "DipIFR Rus (IFRS)". Doctor of Economic Sciences (2010), Associate Professor (2009).
Moscow “___”________ 200_
Company “________________” registered ___________________________ (hereinafter referred to as the “SELLER”), represented by_________________, ______________, due to the power of the statement on the one hand, and OOO “_______” (hereinafter referred to as the “BUYER”), represented by _______________, General Director, due to the statement on the other hand, have concluded the Present Contract on the following:
1. Subject of the contract
The SELLER is to ship and the BUYER is to buy products (hereinafter referred to as the “GOODS”) on terms of delivery basis (Incoterms-2000) in accordance with the specification given in SUPPLEMENT #1 attached to the Present Contract and constitute an integral part thereof, for the whole amount ____________ (________________) USD up to _________________.
2. Price and total amount of the contract.
2.1. All the prices are specified in the SELLER’s proposals and fixed in US dollars. The SELLER has a right to change prices in case of informing the BUYER two weeks before these changes.
2.2. The total amount of the Present Contract is ______________ (________________________) USD and is to be firm and not subject to any alterations even if the SELLER changes prices for the duration of the Present Contract.
2.3. After signing and fulfillment of the Present Contract all the expenses, including custom dues, are paid by the parties on their own territories.
3. Terms of delivery
3.1. Delivery terms: delivery basis.
3.2. GOODS are delivered in lots formed in the assortment, based on BUYER’s orders and availability of GOODS in the SELLER’s stock.
3.3. The order considered to be implemented if the SELLER makes out a pro forma invoice to the BUYER.
3.4. Invoice comes into power after the BUYER confirms its payment.
3.5. The SELLER shall ship the GOODS from manufacturer warehouse within 5 days after BUYER’s confirmation of the invoice.
The SELLER shall inform the BUYER of the fact of shipment as soon as possible and shall provide the following information: Date of shipment; Contract No.; Name of Vessel, No. of Document of Title, Description, Number and Weight of the GOODS.
In case the GOODS are not shipped within 5 days after the BUYER’s confirmation of the Invoice, the SELLER is to pay the BUYER the fine 0.1% of the cost of non-shipped GOODS.
In case the GOODS are not shipped within 30 days after BUYER’s confirmation of the Invoice, the BUYER has a right to refuse these GOODS.
3.6. The right of ownership for the GOODS shall pass to the BUYER at the moment of ___________ (according to the delivery basis).
4.Terms of payment
4.1.The BUYER shall pay 100% of the Invoice within 90 calendar days after executing records on customs clearance is completed.
If failing to pay on time, the BUYER is to pay the SELLER the fine 0.1% of the Invoice, which was not paid on time.
Payments in advance are available if both parties have agreed. In case of non-delivery SELLER is to reimburse the amount of the payment in advance not later than 90 days from the day BUYER made the payment.
4.2. All payments under this Contract are made in US dollars by bank remittance to the SELLER’s account.
5. Packing and Marking
5.1. The GOODS shall be packed and marked in accordance with the demands of each kind of the GOODS.
Internal and external packing shall secure full safety of the GOODS and protect them against any breakage and damage as well as atmospheric effects.
Each carton used for packing the GOODS shall be marked three sides: top one and two opposite to each other side sides. All the covering documents such as Packing and Specification Lists as well as Marking and Technical Documentation shall be written down in English.
6. Acceptance of the GOODS
6.1. The GOODS are considered as delivered by the SELLER and accepted by the BUYER:
as to number of packages - according to shipment documents;
as to quality - according to the Quality Certificate issued by the SELLER.
6.2. Final acceptance is to be made in the territory of the BUYER.
The GOODS are being accepted:
as to number of packages - on receipt of the GOODS from a Forwarder (Carrier);
per quality of items - not later than two weeks after receiving the GOODS and the moment of opening the package;
as to quality - not later than one month after opening the package.
6.3. Acceptance of the GOODS shall be made by the official representative of the BYUER in the presence of, if necessary, the representative official of the Chamber of Commerce (at BUYER’s discretion) with the execution of the report of acceptance.
7.Quality and Warranty
7.1. The quality of the GOODS shall conform to the Quality Certificate issued by the supplier.
7.2. For the GOODS being in need of special warranty, the warranty period is fixed within 12 months from the date of delivery.
7.3. Should the GOODS within the guarantee period prove to be defective or not corresponding to the Terms and Conditions of the Present Contract, the SELLER shall eliminate defects or replace defective parts. The costs on the delivery of defective parts back to the SELLER are covered by the BUYER.
8. Claims
8.1. The BUYER can claim the SELLER for quantity as well as for quality within two weeks from the date of acceptance.
For the GOODS ensured by a warranty period claims can be made 30 days after warranty period expires in case if the BUYER has found defects within this warranty period.
8.2. The claims must be proven by the Certificate drawn up by a competent independent expert Organization.
8.3. The SELLER is to examine and fulfill the claim within 20 days on receipt of the claim.
9. Force majeur
If in the case of the Force-majeur circumstances, namely fire, natural calamity, blockade, embargo on exports or Imports, or some other ones not dependent on the Parties, the full or partial execution of this Contract becomes impossible by any of the participants , the period of the obligations execution is extended in correlation with the time frame of the Force-majeur circumstances.
If such circumstances and their consequences should continue for more than three months each of the Parties in this Contract shall have the right to reject all future obligations stipulated in the Contract. Neither Party shall have the right to claim compensation for damages related to these circumstances from the other Party.
Either Party who finds it impossible due to such circumstances to accomplish their obligations according to this Contract shall immediately inform the other Party by both electronic means and registered mail of the Force-majeur circumstances. A certificate issued by the Chamber of Commerce of an appropriate geographical entity, related to either the SELLER’s or BUYERS" countries, shall serve as proper proof of the existence of a Force-majeur and its duration.
10.Other terms
10.1. The SELLER is entitled to transfer its Contract obligations to a third party after the BUYER is to be informed about it by fax.
10.2. The present Contract can be changed or annulled only after both parties’ written consent.
All amendments and additions to the Present Contract are its inherent parts and valid only if they are made in writing and signed by both parties.
10.3. After signing the Present Contract all previous negotiations and correspondence between the parties in connection with it shall be considered null and void. The present contract exists in two copies. All of them (Russian and English) have equal juridical validity.
10.4. The Duration of the Present Contract: The Present Contract comes to power from the moment of being signed and is valid until ______________.
11. Annotation
In order to make this Present Contract work more effectively, both parties announce that documents sent by fax are valid till the original documents arrival, but not longer than 180 calendar days, after 180 days being over, the original documents are to be presented to the other party. Extension in validity by fax is not allowed.
12. Legal address and Bank Requisites of the Parties
In case of bank requisites being changed by any of the parties, the other party shall be informed about it in writing and within 10 days an ADDENDUM to the Present Contract with new Bank requisites is to be made and signed by both parties.
SELLER(Salesman):
Highlighting the foreign economic (international) sales agreement as a whole, I would like to note that this is a transaction in which parties from different countries take part. Of course, in order for it to be concluded competently and correctly, it is worth familiarizing yourself with all aspects in detail, avoiding future problems.
Such agreements usually include parties that will be under the jurisdiction of certain states. It often happens that an agreement is drawn up between companies that belong to the same state, and the enterprises are located in different countries. Accordingly, it should be understood that such an agreement is generally considered to be a foreign economic agreement.
International treaties are divided into two types: basic and supporting. To understand their essence, you need to carefully analyze each option.
The main contracts are:
- purchase and sale of goods:
- related to trade transactions;
- rent, leasing;
- for international tourism services.
Supporting contracts include:
- on insurance;
- for international transportation, international payment services.
In order for the contract to be drawn up correctly and competently, consultation with experienced lawyers is always required; they will be able to help avoid various problems.
The title of the document should indicate the nature of the agreement, as well as indicate:
- The contract number is assigned by agreement of the parties. It can be assigned according to the order of registration of one of the parties;
- the place where the contract will be concluded;
- date of conclusion of the contract.
The structure of the contract consists of:
- Preamble, subject of the agreement;
- Quantity and quality of goods, delivery time, date;
- The price of the goods and terms of payment are taken into account;
- Insurance;
- It is impossible not to highlight various force majeure situations;
- Other conditions.
The procedure for concluding a foreign economic purchase and sale agreement
If you study the details of an international agreement, it provides that such an agreement can be drawn up in written and oral form.
The conclusion of a foreign economic agreement occurs through:
- drawing up a document that is signed by the parties to the transaction;
- execution of exchange of offer, acceptance.
Offer and acceptance may take the form of letters and telegrams.
When highlighting a sent offer, it must clearly indicate the subject of the transaction. We will talk about this or that product, its price and quantity.
If everything is done correctly and competently, then only then can the transaction be considered completed and valid. It will have the status of an offer, and a contract will be concluded on its basis. The terms of such a contract are usually divided into basic and non-essential, and the parties themselves decide and determine which ones are considered essential and which are not.
If the parties reach mutual agreement on all the conditions that were previously established, then the contract can be safely considered concluded.
But it happens that one of the participants does not want to fulfill certain terms of the contract. At this moment, the second party has every right to terminate the transaction altogether, and in addition, demand compensation for losses. But not everyone knows about it, so that such problems do not arise and consultation with an experienced lawyer is required.
In the event that certain conditions are violated, the parties receive the right to use penalties, which are indicated in the contract. As for the possibility of unilateral termination of the contract, they do not have it.
Termination of a foreign economic sales contract
I would like to note that termination of the contract is also possible and usually this occurs by mutual agreement of the parties. Situations also arise when the contract may be terminated unilaterally, but here there is no way to do without a judicial procedure.
Only the court decides which company violated certain prescribed terms of the contract (Article 450 of the Civil Code of the Russian Federation). For example, if one of the parties did not comply with the terms of the contract, or the quality of the goods supplied, then these are significant reasons that can lead to termination of the contract.
The contract can provide for certain situations that interest you, in which the contract is terminated unilaterally.
It is also necessary to indicate force majeure circumstances that last for a certain period of time, after which the contract can be safely terminated unilaterally.
If you want to terminate the contract, you must write an agreement and this is done strictly in writing. But if this condition is not met, then the contract cannot be considered terminated. Naturally, all the conditions that will be specified in the contract must be strictly observed. Therefore, it is recommended to carefully study each point so as not to encounter headaches.
If you want to terminate the contract through the court, doing it unilaterally, then first you need to send your proposal to the foreign company, indicating the period within which the partner must respond. If this does not happen, then you can safely go to court, where the truth will definitely be on your side.
Once a contract is terminated, it cannot be considered valid.
This results in you being released from all obligations under it, which should be taken into account. But this does not mean that it is now impossible to recover losses from a foreign organization.
For example, if at the time of termination of the contract new circumstances begin to emerge, for example, you learn that a low-quality product was delivered, then you can demand its replacement. If this option does not suit you, you have the right to demand a refund.
