Law
Law
4 min read
What facts do you assess in an international legal project?
In my last post here , I outlined the steps I take when managing an international legal project. This follow-up question was both popular and insightful, so I'll attempt to answer. First, it's worth noting that there are many types of international legal projects from expansion projects (e.g. branches or subsidiaries in a new jurisdiction), acquisitions and joint ventures, ...
Law
4 min read
What steps do you take when managing an international legal project?
I'm often asked this question so I'll attempt to provide a high-level roadmap. My first step is to use the FIRAC method to organize my work. I identify the facts , spot the legal issues , research the legal rules that apply to the project, analyze the facts and draw conclusions about the legal risk and possible mitigation strategies. This is an iterative process, ...
Law
4 min read
Update: Global AI Regulatory Approaches
In a previous post here , I provided an overview of the European Union’s draft Artificial Intelligence Act (“AIA”). On December 8, 2023 the European Parliament and the Council on the Artificial Intelligence Act reached political agreement on the content of the AIA. Next, the agreement will receive formal approval, which is expected to take place sometime in April 2024. ...
Law
5 min read
What is the purpose of a Most Favored Customer clause in a business contract?
A Most Favoured Customer (“MFC”) clause usually states that the Supplier will treat the Buyer as their most favoured customer, which means that the Buyer will get Pricing terms that are no less favourable than any of the Supplier’s other customers. The MFC clause may even state that the Buyer will get better pricing than other customers.
Some clauses go ...
Law
4 min read
How are Price and Exchange Rate Risk managed in an international business contract?
Pricing terms (i.e., amount, discounts, invoicing currency) for Deliverables (i.e., goods, services, or licensed materials) are often contained in Schedules to an Agreement. The Agreement usually has clauses describing the structure of the Agreement itself. Within these clauses the parties can identify how schedules can be made and by whom, how they are to be interpreted in ...
Law
4 min read
What is a Letter of Credit and how does it interact with a commercial contract?
A letter of credit (“LC”) is a legal commitment from a buyer’s bank to pay a seller for goods or services in accordance with the terms of the LC. Essentially, the bank guarantees payment for the underlying transaction between the buyer and seller (a.k.a. the applicant and the beneficiary). The LC operates autonomously from the underlying contract between the parties. The ...
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