{"id":3889,"date":"2017-05-15T13:12:48","date_gmt":"2017-05-15T17:12:48","guid":{"rendered":"http:\/\/www.sabbagh.ca\/?p=3889\/"},"modified":"2026-01-07T12:09:25","modified_gmt":"2026-01-07T17:09:25","slug":"co-ownership-agreement-elements-master-proper-drafting","status":"publish","type":"post","link":"https:\/\/www.sabbagh.ca\/en\/articles\/articles\/co-ownership-agreement-elements-master-proper-drafting\/","title":{"rendered":"Co-ownership agreement: The Elements to Master for Proper Drafting"},"content":{"rendered":"

The goal of a contract is to conclude an agreement that aims to protect the interests of all parties involved. Considering the differences between Canadian laws and those of other countries, drawing up an international contract can prove much more complex than drawing up an internal commercial contract. Establishing a proper contract in due form helps you avoid disputes or litigation as much as possible when you\u2019re buying or selling goods or services outside of Canada.<\/span><\/p>\n

\"Co-ownership<\/p>\n

The bases of an international contract<\/span><\/h3>\n

It\u2019s quite possible to protect yourself effectively when drafting international contracts. First of all, the contracting parties must be properly identified. The agents, affiliates, and\/or representatives must also be included in the contract if they\u2019re part of the agreement. Then, to avoid disagreements, the contract should specify which country\u2019s laws apply to it; indeed, Canada\u2019s trade laws differ from those applicable to foreign markets, so it\u2019s best to add a specific clause that will remove any doubts in case of disputes. Along the same lines, the contract must be detailed \u2013 that is to say, it should include all the determining clauses to which the two parties have agreed. Finally, it\u2019s essential not to neglect the clarity of any of the sections in the contract, since evasive formulations often lead to disagreements and disputes. It\u2019s often desirable to do business with a seasoned professional in this field in order to avoid future surprises and frustration.<\/span><\/p>\n

Incoterms<\/span><\/h3>\n

Since the wording of a contract can sometimes cause confusion, the international trade community has selected several official terms whose meaning is often recognized, known as Incoterms. These concern the responsibilities related to international trade (control, cost, responsibility, etc.). These very precise terms should be used as much as possible to avoid using ambiguous terms in sales agreements.<\/span><\/p>\n

The elements that should appear in an international commercial contract <\/span><\/h3>\n

Many elements should appear in an international commercial contract in order to make it as clear as possible. It\u2019s therefore essential to specify (non-exhaustive list):<\/span><\/p>\n