Bangkok--1 Mar--NARIT & Associates
The series of unexpected events happening in Thailand, whether a major natural disaster or a political turmoil, should not undermine the importance of a bulletproof commercial contract in protecting companies against damages, claims and losses. A commercial contract is a legal document that outlines a series of rights and obligations of each contractual party and describes the nature of the business relationship between the parties. A commercial contract is a crucial part of the business world, but largely ignored or puzzled by many business professionals in this part of the world.
Why we think a commercial contract is crucial?
This is because one clause in a commercial contract can make a whole lot difference between winning and losing when a dispute cannot be amicably settled. The thin line between winning and losing often translates into making or losing a lot of money. This is what counts. As a matter of fact, a properly drafted contract can help you achieve a lot of purposes: (i) it helps you advance your own agenda, (ii) it protects your interest; and (iii) it mitigates or even eliminates any potential risk on your side.
Understanding a legal framework of commercial contracts is important even for non-lawyers. You, a business professional, negotiate with customers, suppliers, business partners, business associates and colleagues everyday. You try to negotiate to the best of your ability and document whatever you agree with your counterparty. But how do you know whatever you put in a contract will be upheld in the court of law? It is not uncommon for a court to strike down any poorly or wrongly worded clause in a commercial contract.
To become a better negotiator in business in Thailand, you need to know what can be agreed and what cannot be agreed in a commercial contract under Thai law. This course will walk you through commonly used techniques that mitigate or even eliminate any potential risk and highlight contractual provisions that are unlikely be upheld in court. The knowledge of commercial contracts will definitely make you a powerful negotiator.
One case study on a shareholders agreement brings to your attention an interesting legal situation when two or more parties run a business together through a jointly owned company. The path often starts with a rosy picture, but ends up getting messy. The shareholders agreement is one of many mechanisms to prevent or settle any dispute between the shareholders (partners).
Besides the shareholders agreement, this course will address the sales contract and the supply contract (hire of work contract), which are ones of the most used commercial contracts. Crucial terms and conditions of the sales contract and the supply contract (hire of work contract) will be explored in detail.
Last but not least, the last session will cover tax aspects of international contracts. The cross border services agreement is becoming more and more commonplace in corporate Thailand. The contract split is used in a cross border transaction as a way to minimize Thai tax. The double taxation agreement exempts Thai tax on the business profit for an offshore company, but does not exempt Thai tax on the royalty. Obviously, the types of income are terribly important here. How do you word the cross border services agreement so that the tax authority is likely to recognize its income as the business profit, not the royalty?
NARIT & Associates is pleased to invite you to attend our legal seminar on the following topic:
Mastering Commercial Contracts: Drafting, Risk Management and Tax Aspect
Date: Monday — Tuesday, April 2-3, 2012
Venue: Centara Grand at CentralWorld, Bangkok
Course Fee: Baht 19,500 and Save Baht 1,500 for Early Bird Rate (payment by February 29, 2012) or Multiple Booking (min 2 or more)
Note: Presentation and materials will be in English
ติดต่อ:
Kittima Kalasin
NARIT & Associates
65/31 Chamnan Phenjati Business Center
2nd Floor, Rama IX Road
Huay Khwang, Huay Khwang
Bangkok 10320, Thailand
Tel: + 66 2248 2874
Fax: + 66 2248 2873
Email:
[email protected]
Website: www.naritlaw.com