International Business Contracts Survey
The option of engaging in business overseas is more readily available than ever before, in part because of the evolution of the internet, faster international shipping, and instantaneous communication. With this increased access and growth in global partnerships across sectors, a greater need arises for agreements that memorialize collaborators' commitments, responsibilities and obligations. A corresponding concern is that the agreements be enforceable across national and international lines should anything go awry. How these international agreements are crafted is more important then ever. Yet, surprisingly little empirical data is available to inform the legal community on the methods by which attorneys from different backgrounds and countries have approached cross-border contract design.
First distributed in February 2011, the International Business Contract Survey received responses from 178 participants representing various practice sectors. The results reported herein are current through August 25, 2011. The study explores the approach lawyers of different disciplines adopt in regard to international contract formation. The research examines whether any consistency exists between attorneys from different countries, practice sectors (academic, government, corporate and private), and legal traditions (civil, common, and mixed), considering choice of law, enforcement of contract provisions, and inclusion of preventative measures of international contracts.
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Arbitration less popular than litgiation
B+G&S Nigeria Limited
Construction contract claims
Termination due to Bankruptcy
Forsythe and Long Engineering, Inc.
Schedule of Values (SOV)- contract clauses