Are there legal issues in international business transactions?

In the era of globalization and the new digital-driven era of globalization, businesses face legal issues in international business transactions.

Who are the parties to an international business transaction?

An e-commerce transaction can be an international business transaction. In general, the parties to international business deals include individuals, small and large multinational companies, and even countries. The contracts for goods and services entered into by the parties, create at times legal issues.

What are the laws of international trade and finance?

International Commercial and Finance Law. Various laws and international agreements govern corporate organization, contractual terms, financing, and the protection of investments in transactions between private parties across international borders. Trade Remedy Laws.

How are international companies affected by trade sanctions?

As a consequence, companies should not structure transactions to avoid international sanctions. For example, an EU based oil and gas business which supplied equipment to a company in the UAE, knowing that in turn the UAE company supplied that equipment to end users in Iran, may well have breached EU trade sanctions against Iran.

What happens if a foreign company violates US sanctions?

If a foreign company or individual violates a provision of the U.S. sanctions laws, they can be exposed to significant consequences for such actions. A. Contacts With the United States. To start, if a non-U.S. company has a sufficient level of contacts with the United States, it can become subject to OFAC jurisdiction and the U.S sanctions laws.

How are global companies affected by money laundering?

Status as or relationship with other high-risk individuals/ entities (e.g. PEPs). Non-financial institution companies have unique anti-money laundering risk profiles. Global companies do not process as many financial transactions as a financial institution.

Is it illegal to do money laundering under the FCPA?

Under Section 1956, it is unlawful to “conduct [] or attempt [] to conduct” a financial transaction with proceeds known to be derived from illegal activity. The statute sets forth a variety of predicate illegal acts for purposes of the money laundering statute, including FCPA violations.