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NYLAWLADY
NYLAWLADY, Attorney
Category: Legal
Satisfied Customers: 814
Experience:  15 YEARS PRIVATE GENERAL PRACTICE CIVIL APPEALS, LITIGATION
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Dear Sir/Madam Our company is an international trade company.

Customer Question

Dear Sir/Madam

Our company is an international trade company. We bridge the gap between the seller and the buyer from countries all over the whole world.

You know that the sellers and buyers want to exchange their documents before starting any deal. The fear of all the trade companies is that once the buyer and the seller knew each other address and phone numbers, the trade company that spent days to introduce them to each other may be out of the deal with zero compensation. In the best scenario the trade company may get little compensation from the first trial little deal, and nothing after that.

We heard that the NCNDA AND THE IMFPA are just pieces of paper worth nothing. Who has the time to go to the international court to get their rights?

Trade companies are in the business of trade not in the business of suing others.

Please advice us with the best instrument that can protect the trade broker.

Our email XXXXX@XXXXXX.XXX

Thank You
Submitted: 4 years ago.
Category: Legal
Expert:  NYLAWLADY replied 4 years ago.
You need to get yourself an iron clad contract, besides anything else you have, that can be enforced in the state in which your business is located. You should consult and international law attorney and believe me his/her time will e well worth it since a solid contract in the beginning will give you less litigation in the future. Good Luck.Please press the "accept" button so I may be credited and paid for my time when I have answered your question. . Positive feedback or a bonus is always appreciated. The responses don't create an attorney client relationship Thank you very much.
Customer: replied 4 years ago.

Dear Madam

 

The contarct is mandated by the seller or the buyer not by the trade company. Also once we reached the contract phase, it is too late to do any thing because the seller and the buyer already knew each other's address and phone number. Before the contract there is the LOI (letter of intention) from the buyer and FCO (full corporate offer) from the seller. On these two documents the address and the phone numbers of both are written. The instrument I am asking for should comes early before the seller and the buyer exchange their documents. I heard from some trade brokers that I shoud ask that my company's name should be included on the LC (letter of credit) issued by the buyer's bank. Also the LC comes after the seller and buyer knew each other.

What will happen if the buyer or the seller violated the NCNDA or the IMFPA we signed with them, Do we have to go to China or south Africa (their company's location) to sue them there? Do we have the right to have access to the contracts they sign from behind our backs to know whether they violated the agreement or not?

If international law is not your speciality, do you mind passing my questions to him/her?

Thank You

 

Customer: replied 4 years ago.

Where is the answer to my first reply?

 

How a trade broker can prevent the buyer and the seller from bypassing him and signing a contract from behind his back without paying any compensation to him. The trade broker spent days and hours from his time to bridge the gap between the seller and the buyer, then he introduced them to each other. Once they know each other address and phone number they push the broker out of their way and deal with each other directly.

 

The NCNDA or the IMFPA they signed has no value because it is expensive to execute it by travelling to the end of the world with an attorney.

 

Sir/Madam

I did not ask my question just to tell me: "consult with an attorney"

 

Thank You

 

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