Our collaboration with the International Trade Centre (ITC)
Weagree collaborates with the International Trade Centre (ITC), the joint agency of the United Nations and World Trade Organization (WTO). The aim of our collaboration is to establish and support an online platform where people can manage (free of charge) any of the ITC Model Contracts and tailor it to their specific transaction or a legal relationship. It is an open platform, at precontractual.com.
Watch the video of our release:
Almost all international business transactions begin with a basic, informal exchange of proposals, some e-mailed words of consensus, at best printed on a piece of paper. But in the case of defects in a product or breach of contract, how can a customer claim against its supplier? How can risks, uncertainties and disputes be prevented? Unsuitable contracts and lack of experience put businesses at risk, cause uncertainty and disputes.
Micro, small and medium-sized enterprises (MSMEs) play an increasingly important role in international value chains. Many of them have grown into micro-multinationals with worldwide presence and international alliances. Globalization and regulatory restrictions complicate their cross-border transactions. MSMEs cannot always afford legal advice. Many of them draft and negotiate agreements without legal support.
The United Nations and World Trade Organization (WTO) recognize the importance for MSMEs to provide legal frameworks and harmonize contractual practices. Their joint agency, the ITC, is dedicated to the competitiveness and internationalisation of MSMEs. As part of ITC’s work to make trade more inclusive and accessible for all, ITC is committed to increase the opportunities for MSMEs to connect to global value chains in a sustainable manner, and provides guidance for cross-border commercial contracting. Together with its pro bono committee of trade lawyers from over 70 countries, ITC publishes international commercial model contracts and facilitates dispute settlement for MSMEs.
Our joint website precontractual.com:
- our book Cross-border contracting – guidance on the many legal aspects of contracts, best practices of contract preparation, offers alternative clauses and explains the clauses in the ITC Model Contracts. It covers a wide spectrum of business models including sale of goods, international distribution, joint ventures and provision of services.
- advanced contract automation – allowing everyone to create and tailor their contracts based on the ITC Model Contracts.
Try it yourself, subscribe to the contract automation solution, and create your contracts for free. We start with ITC’s model international distribution agreement in English, French and Spanish. The other ITC Model Contracts will be automated shortly.