Home Legal & Compliance Import and Export Business – A Bilateral Agreement

Import and Export Business – A Bilateral Agreement

by Jackson B

A bilateral contract is legally binding and a written contract is always signed by the parties concerned. Any written contract is a case of a unilateral contract.

When the buyer goes to buy a vehicle, he is considered to be buying the vehicle from the seller only. It is not an agreement between the buyer and the seller. The buyer pays the seller a specific amount of money so as to purchase the vehicle. This is referred to as the cash advance agreement. This is a legal agreement entered into between the buyer and seller.

In India, there are many buyers who prefer to buy vehicles from abroad and sell them to the local people in different countries. This is known as import and export business. The buyer and the seller both enter into a contract while buying or selling vehicles.

While entering into these legal agreements, both the parties are legally bound to abide by the terms of agreement. If you want to buy a car from overseas, then it is important to check out the terms and conditions associated with such a deal before you agree to buy a car. This is so because there are certain aspects that are considered legally irrelevant in the context of the bilateral deal.

When you are looking at the various legal issues involved in the import and export business then it is very important for you to look out for the provisions relating to contract clauses, agreement clauses, registration clause and financial liability clause. The provisions relating to contract clauses involve any pre-contract document that contains any conditions and requirements pertaining to the purchase of the vehicle from a particular country.

The other type of agreement that is considered is the one related to an agreement on the transfer of the title of ownership. In this case both the parties involved in the transaction will enter into an agreement and will agree to the transfer of the title. The transfer of title includes the transfer of the title that is related to the title of the vehicle to the buyer’s name and the transfer of the title of the vehicle to the seller’s name.

The third type of obligation is that of a liability clause. This means that if a buyer fails to carry out a contract on time then he will be liable for any damages that are caused by him to the other party. This can be in the form of monetary damages, repossession of the vehicle, possession of the vehicle by the state that is the owner of the vehicle and in some cases a criminal prosecution.

There are also provisions relating to the transfer of the rights and responsibilities related to the vehicles. These include the rights and responsibilities that involve the responsibilities of the buyer and the seller to be responsible for maintenance of the vehicle.

There are also contractual obligations involved in the right to sell the vehicle without waiting for a contract to be signed. In addition to the transfer of the rights to sell the vehicle, there are also provisions in place that would make sure that the vehicle is sold after completion of the contract and not after completion of the contract.

There are other important provisions that relate to the maintenance of the vehicle. In fact, there are provisions that would ensure that the vehicle is maintained well even after the contract has been completed.

In the context of the import and export business, the last category of obligation is related to the rights of the buyer. This means that the buyer has to be informed about the rights of the seller and he has to be informed about the responsibilities of the seller.

In order to avoid the occurrence of any such agreement that would violate the law, then you need to make sure that you read the legal agreement clearly. There are certain provisions that are considered highly confidential and they do not need to be given out to the public at all.