abhijit (legal ) 05 October 2009

law governing export

an indian company is planning to export perishable goods to a foreign (europian country) company. It will enter into an agreement with this company.

What law will govern this ? In terms of breach of contract which law will govern this?

will it be indian law or that country's law or international law?

It is to be executed on indian stamp paper or that country's stamp?

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3 Replies

Amardeep Srivastava (Senior Law Officer) 05 October 2009

Dear Abhijit,

Law governing the agreement has to be specified in the agreement itself. The parties have to arrive at an agreement on this issue and specify in the agreement as to which law would be applicable for the agreement.

Amardeep

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N.Ramakrishnan (Advocate/ Senior Partner) 06 October 2009

Dear Mr. Srivastava,

The parties can choose the law governing the contract, the mode of resolution of dispute and the seat of arbitration / ADR. If the agreement is executed in India or partly in India and if the governing law is chosen as the Indian law, then the agreement has to be properly and adequately stamped as per the Indian Stamp Act or other state amendments thereof.

Thanks,

N.Ramakrishnan, ADV

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shonith (Law Officer) 08 October 2009

Dear all,

If an arbitration award was passed here at India or an Indian court pronounced a verdict

against the foreign company , how can we execute that award or decree,is it by filing an execution petition there at the foreign country?

Is it necessary that the countries to which both parties belongs to should be the signatories of

any international conventions regarding the reciprocity of awards/decrees for the above said

execution ?

Thanks& Regards,

Shonith.P.S.