If you’re launching a new company or expanding an existing one, you need to know the rules that apply to doing business in a foreign country. Here are some of the most important rules to follow when doing business overseas. While there are many global traditions that apply to bills of replenishing, the Hague Rules are the most important. These rules are based on the International Convention on the Unification of Certain Rules of Law Relating to Bills of Lading. They have been amended by the 1968 Brussels Protocol.
Regardless of the country in which you choose to conduct business, you must follow the laws of the country in which you’re doing business. If you’re selling products, for example, you must follow the local laws of that country’s customs and import and export regulations. These rules may apply to eCommerce businesses that use dropshipping models. In order to avoid trouble, you must make sure you know the local laws governing shipping.
When starting a new business in a foreign country, you should consult the government’s regulatory agencies in order to understand the local laws and cultural mandates. If these rules were universally applicable to all businesses, every small business would have an overseas office. If they were, however, all international businesses would have international operations. As you do business in a foreign country, be sure to carefully evaluate the risks and rewards of each move. You must also ensure that your operations remain efficient at home.