Focus of minimizing potential risk by proceeding under a bilateral or multilateral treaty instead of a contract
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This document discusses how bilateral or multilateral treaties can help minimize risks when conducting international transactions compared to contracts. Treaties provide more comprehensive protection and are enforceable under international law, while contracts can be complex, costly and may not offer the same level of protection across borders. When using treaties, key elements to consider include the parties involved, negotiation and drafting processes, compliance measures, and dispute resolution mechanisms. Structuring treaties with clear and measurable terms as well as provisions for review can help reduce risks over time.
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Focus of minimizing potential risk by proceeding under a bilateral or multilateral treaty instead of a contract
- 1. A Focus on Minimizing potential risks by proceeding under a bilateralormultilateraltreaty insteadofacontract. PRESENTED BY: CHANAKYA KENE; UG20-47
- 3. Multilateral/ Bilateral Treaty over Contract Contractsarecommonlyusedinbusinesstransactionsto establishlegallybindingagreementsbetweentwoormore parties.However,whendealingwithcross-border transactions,contractscanbecomplex,costly,andmaynot providethesamelevelofprotectionasatreaty.Bilateralor multilateraltreatiescanprovideamorecomprehensive approachtoprotectingtheinterestsofallpartiesinvolved. Treatieshavetheadvantageofbeingenforceableby internationallawandmayprovideamoresecurebasisfor conductinginternationaltransactions.
- 4. BENEFITS OF FOCUSING TREATIES OVER CONTRACTS Comprehensive Protection Enforceability Standardization Stability.
- 5. Effective in Minimizinf Potential Risk When using bilateral or multilateral treaties, the following key elements must be considered to minimize the potential risks involved in international transactions: Parties involved Negotiation and Drafting Compliance Dispute Resolution
- 6. 5. How to Minimize Potential Risks Therearecertainstepswhichcanhelpminimizethepotential risksofbilateraltreatiessuchas: 1.Draftingaclausebasedtreatythatiseasytointerpretand clarify. 2.Includingprovisionswhichfacilitatedisputeresolution mechanisms. 3.Includingreview-and-renewclausessothatthetreatycan evolveasneeded. 4.Structuringthetreatydocumentinameasurablewayto makeiteasytounderstand. 5.Makingsurethatthetermsfavoredbybothpartiesare equallyweighed.
- 7. BIT's and Risk management Oneofthekeybene tsofBITsisthattheycanhelpto minimizethepotentialrisksassociatedwithinvestingina foreigncountry.Byprovidingaframeworkforinvestment protectionanddisputeresolution,BITscangiveinvestors greatercondenceinthesecurityandstabilityoftheir investments.