Contract/Agreement of Indian Company with Foreign Company

Hey! If you are preparing an agreement for Indian company with foreign firm, do keep the below points in your mind while making the contract. This would help and guide you what not to omit while making an important and strong legally enforceable contract.

Now, let’s have a look at them.

1 On this day party A & party B

2 Objectives of formation of company A & B and what company A is going to do for company B.

3 Then set the terms and conditions of the agreement.

1. What will the foreign company will supply. A.b.c.d.e.f.g.h
2. Payment plan- one time or continuous or in parts. Detailed schedule
3. Agreement tenure
4. Condition use of brand names either for internal sale or external sale
5. Restriction clause
6. Right to pledge, mortgage, or assign, sub-license know how to anyone
7. No restraint on Indian Company.
8. Who will pay the salary in case foreign official visits
9. If Indian companies will send the people, then Indian companies will bear the expense
10. Each will inform of the recent developments
11. Data under lock and key.
12. Rights of patents even after the expiry of the agreement.
13. UK company as the sole technical consultant
14. Indian companies will return the data or material received.

Witnesses in the end. Hope this helps you in preparing your first draft, like it did in mine. Stay tuned for more updates.