Identifying Export Product.

Bookmark this Page Introduction Key Factors in Products Selection

Introduction A key factor in any export business is clear understanding and detail knowledge of products to be exported. The selected product must be in demand in the countries where it is to be exported. Before making any selection, one should also consider the various government policies associated with the export of a particular product. Whether companies are exporting first time or have been in export trade for a long time - it is better for both the groups to be methodical and systematic in identifying a right product. Its not sufficient to have all necessary data 'in your mind' - but equally important to put everything on paper and in a structured manner. Once this job is done, it becomes easier to find the gaps in the collected information and take necessary corrective actions. There are products that sell more often than other product in international market. It is not very difficult to find them from various market research tools. However, such products will invariably have more sellers and consequently more competition and fewer margins. On the other hand - a niche product may have less competition and higher margin - but there will be far less buyers. Fact of the matter is - all products sell, though in varying degrees and there are positive as well as flip sides in whatever decision you take - popular or niche product. Key Factors in Product Selection The product should be manufactured or sourced with consistent standard quality, comparable to your competitors. ISO or equivalent certification helps in selling the product in the international market. If possible, avoid products which are monopoly of one or few suppliers. If you are the manufacturer - make sure sufficient capacity is available in-house or you have the wherewithal to outsource it at short notice. Timely supply is a key success factor in export business The price of the exported product should not fluctuate very often - threatening profitability to the export business. Strictly check the government policies related to the export of a particular product. Though there are very few restrictions in export - it is better to check regulatory status of your selected product. Carefully study the various government incentive schemes and tax exemption like duty drawback and DEPB. Import regulation in overseas markets, specially tariff and non-tariff barriers. Though a major non-tariff barrier (textile quota) has been abolished - there are still other tariff and non-tariff

barriers. If your product attracts higher duty in target country - demand obviously falls. Registration/Special provision for your products in importing country. This is specially applicable for processed food and beverages, drugs and chemicals. Seasonal vagaries of selected products as some products sell in summer, while others in winter. Festive season is also important factor, for example certain products are more sellable only during Christmas. Keep in mind special packaging and labeling requirements of perishable products like processed food and dairy products. Special measures are required for transportation of certain products, which may be bulky or fragile or hazardous or perishable

Market selection for export After evaluation of companys key capabilities, strengths and weaknesses, the next step is to start evaluating opportunities in promising export markets. It involves the screening of large lists of countries in order to arrive at a short list of four to five. The shorting method should be done on the basis of various political, economic and cultural factors that will potentially affect export operations in chosen market. Some factors to consider include: Geographical Factors Country, state, region, Time zones, Urban/rural location logistical considerations e.g. freight and distribution channels

Economic, Political, and Legal Environmental Factors Regulations including quarantine, Labelling standards, Standards and consumer protection rules, Duties and taxes

Demographic Factors Age and gender, Income and family structure, Occupation, Cultural beliefs, Major competitors,

Similar products, Key brands.

Market Characteristics Market size, Availability of domestic manufacturers, Agents, distributors and suppliers.

Foreign Market Research Understanding a markets key characteristics requires gathering a broad range of primary and secondary research, much of which you can source without cost from the internet. Primary research, such as population figures, product compliance standards, statistics and other facts can be obtained without any cost from international organizations like United Nations (UN) and World Trade Organizations (WTO). Analysis of export statistics over a period of several years helps an individual to determine whether the market for a particular product is growing or shrinking. Secondary research, such as periodicals, studies, market reports and surveys, can be found through government websites, international organisations, and commercial market intelligence firms. Foreign Market Selection Process Step 1: Gather Information on a Broad Range of Markets Market selection process requires a broad range of informations depending upon the products or services to be exported, which includes: The demand for product/service. The size of the potential audience. Whether the target audience can affords product. What the regulatory issues are that impact on exports of product. Ease of access to this market proximity/freight. Are there appropriate distribution channels for product/service. The environment for doing business language, culture, politics etc. Is it financially viable to export to selected market.

You can gather much of the first step information yourself from a variety of sources at little or no cost. Sources of information include: Talking to colleagues and other exporters. Trade and Enterprise web site, publications, call centre. The library.

The Internet.

Step 2: Research a Selection of Markets In-Depth From the results of the first stage, narrow your selection down to three to five markets and undertake some in-depth research relating specifically to your product. While doing so, some of the questions that may arise at this stage are: What similar products are in the marketplace (including products that may not be similar but are used to achieve the same goal, e.g. the product in our sample matrix at the end of this document is a hair removal cream. As well as undertaking competitor research on other hair removal creams, we would also need to consider other products that are used for hair removal, i.e. razors, electrolysis, wax). What is your point of difference? What makes your product unique? What are the key selling points for your product? How do people obtain/use these products? Who provides them? Are they imported? If so from which countries? Is there a local manufacturer or provider? Who would your major competitors be? What are the key brands or trade names? What is the markets structure and shape? What is the markets size? Are there any niche markets, and if so how big are they? Who are the major importers/ stockists / distributors / agencies or suppliers? What are the other ways to obtain sales/representation? What are the prices or fees in different parts of the market? What are the mark-ups at different distribution levels? What are the import regulations, duties or taxes, including compliance and professional registrations if these apply? How will you promote your product or service if there is a lot of competition? Are there any significant trade fairs, professional gathers or other events where you can promote your product or service? Packaging do you need to change metric measures to imperial, do you need to list ingredients? Will you need to translate promotional material and packaging? Is your branding colours, imagery etc., culturally acceptable?

Foreign Market Selection Entry Having completed the market selection process and chosen your target market, the next step is to plan your entry strategy.

There are a number of options for entering your chosen market. Most exporters initially choose to work through agents or distributors. In the longer term, however, you may consider other options, such as taking more direct control of your market, more direct selling or promotion, or seeking alliances or agreements.
Criteria for the Least Developed Countries
The recognition of the developmental problem of the poorest countries and the establishment of the LDCs group dates back to 1971, when the United Nations, in its resolution 2768 (XXVI) of 18 November 1971, established the first group of LDCs with 24 countries as its original members. The three principal criteria used to establish the group were

per capita GDP of US $ 100 per person in 1968 or less; a share of manufacturing in total GDP of 10 per cent or less; and an adult literacy rate of 20 per cent or less.

The list of countries as least developed is established by the General Assembly on the recommendation of the Economic and Social Council (ECOSOC) and on the advice of the Committee for Development Planning (CDP). The list is reviewed every three years. In 1998 it was decided to reconstitute the Committee on Development Planning as the Committee for Development Policy to continue the triennial review of the status of least developed countries. The Committee for Development Policy reaffirmed that the least developed country category should include countries with a low per capita income, a low level of human resource development and a high degree of economic vulnerability. The Committee thus bases its identification of the least developed countries on criteria designed to 1 measure three dimensions of a countrys state of development :

its income level, measured by gross national income (GNI) per capita; its stock of human assets, measured by a human assets index (HAI); and its economic vulnerability, measured by an economic vulnerability index (EVI) .
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A country qualifies to be added to the list of LDCs if it meets inclusion thresholds on all three criteria mentioned above. A country qualifies for graduation from the list if it meets graduation thresholds on two of the three criteria. For the low-income criterion, the threshold on which inclusion on the current list is based has been a GDP per capita of $800, and the threshold for graduation has been a GDP per capita of $ 900. The most recent review was conducted 1 in April 200 . In 2003 Timor-Leste was added to the list. As of end 2005 fifty countries are designated by the United Nations as the Least Developed Countries (LDCs). The Committee has drawn attention to the importance of smooth transition measures for graduated countries. As stressed in the report of its fourth session, the Committee considers smooth transition as a principle of paramount importance to the graduating countries, insofar as these countries are likely to remain dependent, to varying degrees, on external support.

n Channels in Marketing

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The Importance of Distribution: Most producers use intermediaries to bring their products to market. They try to develop a distribution channel (marketing channel) to do this. A distribution channel is a set of interdependent organizations that help make a product available for use or consumption by the consumer or business user. Channel intermediaries are firms or individuals such as wholesalers, agents, brokers, or retailers who help move a product from the producer to the consumer or business user. A companys channel decisions directly affect every other marketing decision. Place decisions, for example, affect pricing. Marketers that distribute products through mass merchandisers such as Wal-Mart will have different pricing objectives and strategies than will those that sell to specialty stores. Distribution decisions can sometimes give a product a distinct position in the market. The choice of retailers and other intermediaries is strongly tied to the product itself. Manufacturers select mass merchandisers to sell mid-price-range products while they distribute top-of-the-line products through high-end department and specialty stores. The firms sales force and communications decisions depend on how much persuasion, training, motivation, and support its channel partners need. Whether a company develops or acquires certain new products may depend on how well those products fit the capabilities of its channel members. Some companies pay too little attention to their distribution channels. Others, such as FedEx, Dell Computer, and Charles Schwab have used imaginative distribution systems to gain a competitive advantage. Functions of Distribution Channels Distribution channels perform a number of functions that make possible the flow of goods from the producer to the customer. These functions must be handled by someone in the channel. Though the type of organization that performs the different functions can vary from channel to channel, the functions themselves cannot be eliminated. Channels provide time, place, and ownership utility. They make products available when, where, and in the sizes and quantities that customers want. Distribution channels provide a number of logistics or physical distribution functions that increase the efficiency of the flow of goods from producer to customer. Distribution channels create efficiencies by reducing the number of transactions necessary for goods to flow from many different manufacturers to large numbers of customers. This occurs in two ways. The first is called breaking bulk. Wholesalers and retailers purchase large quantities of goods from manufacturers but sell only one or a few at a time to many different customers. Second, channel intermediaries reduce the number of transactions by creating assortmentsproviding a variety of products in one locationso that customers can conveniently buy many different items from one seller at one time. Channels are efficient. The transportation and storage of goods is another type of physical distribution function. Retailers and other channel members move the goods from the production site to other locations where they are held until they are wanted by customers. Channel intermediaries also perform a number of facilitating functions, functions that make the purchase process easier for customers and manufacturers. Intermediaries often provide customer services such as offering credit to buyers and accepting customer returns. Customer services are oftentimes more important in B2B markets in which customers purchase larger quantities of higher-priced products. Some wholesalers and retailers assist the manufacturer by providing repair and maintenance service for products they handle. Channel members also perform a risk-taking function. If a retailer buys a product from a manufacturer and it doesnt sell, it is stuck with the item and will lose money. Last, channel members perform a variety of communication and transaction functions. Wholesalers buy products to make them available for retailers and sell products to other channel members. Retailers handle transactions with final consumers. Channel members can provide two-way communication for manufacturers. They may supply the sales force, advertising, and other marketing communications necessary to inform consumers and persuade them to buy. And the channel members can be invaluable sources of information on consumer complaints, changing tastes, and new competitors in the market. Channels A number of alternate channels of distribution may be available:

Selling direct, such as via mail order, Internet and telephone sales Agent, who typically sells direct on behalf of the producer Distributor (also called wholesaler), who sells to retailers Retailer (also called dealer or reseller), who sells to end customers Advertisement typically used for consumption goods

Distribution channels may not be restricted to physical products alone. They may be just as important for moving a service from producer to consumer in certain sectors, since both direct and indirect channels may be used. Hotels, for example, may sell their services (typically rooms) directly or through travel agents, tour operators, airlines, tourist boards, centralized reservation systems, etc. There have also been some innovations in the distribution of services. For example, there has been an increase in franchising and in rental services the latter offering anything from televisions through tools. There has also been some evidence of service integration, with services linking together, particularly in the travel and tourism sectors. For example, links now exist between airlines, hotels and car rental services. In addition, there has been a significant increase in retail outlets for the service sector. Outlets such as estate agencies and building society offices are crowding out traditional grocers from major shopping areas.

Channel members Distribution channels can have a number of levels. Kotler defined the simplest level, that of direct contact with no intermediaries involved, as the zero-level channel. The next level, the one-level channel, features just one intermediary; in consumer goods a retailer, for industrial goods a distributor. In small markets (such as small countries) it is practical to reach the whole market using just oneand zero-level channels. In large markets (such as larger countries) a second level, a wholesaler for example, is now mainly used to extend distribution to the large number of small, neighborhood retailers.

Wholesaling Wholesaling is all activities involved in selling products to those buying for resale or business use. Wholesaling intermediaries are firms that handle the flow of products from the manufacturer to the retailer or business user. Wholesaling intermediaries add value by performing one or more of the following channel functions:

Selling and Promoting Buying and Assortment Building Bulk-Breaking Warehousing Transportation Financing Risk Bearing Market Information giving information to suppliers and customers about competitors, new products, and price developments Management Services and Advice helping retailers train their sales clerks, improving store layouts and displays, and setting up accounting and inventory control systems.

Independent Intermediaries Independent intermediaries do business with many different manufacturers and many different customers. Because they are not owned or controlled by any manufacturer, they make it possible for many manufacturers to serve customers throughout the world while keeping prices low. Merchant Wholesalers

Merchant wholesalers are independent intermediaries that buy goods from manufacturers and sell to retailers and other B2B customers. Because merchant wholesalers take title to the goods, they assume certain risks and can suffer losses if products get damaged, become out-of-date or obsolete, are stolen, or just dont sell. At the same time, because they own the products, they are free to develop their own marketing strategies including setting prices. Merchant wholesalers include full-service merchant wholesalers and limited-service wholesalers. Limited-service wholesalers are comprised of cash-and-carry wholesalers, truck jobbers, drop shippers, mail-order wholesalers, and rack jobbers. Merchandise Agents or Brokers Merchandise agents or brokers are a second major type of independent intermediary. Agents and brokers provide services in exchange for commissions. They may or may not take possession of the product, but they never take title; that is, they do not accept legal ownership of the product. Agents normally represent buyers or sellers on an ongoing basis, whereas brokers are employed by clients for a short period of time. Merchandise agents or brokers include manufacturers agents (manufacturers reps), selling agents, commission merchants, and merchandise brokers. Manufacturer-Owned Intermediaries Manufacturer-owned intermediaries are set up by manufacturers in order to have separate business units that perform all of the functions of independent intermediaries, while at the same time maintaining complete control over the channel. Manufacturer-owned intermediaries include sales branches, sales offices, and manufacturers showrooms. Sales branches carry inventory and provide sales and service to customers in a specific geographic area. Sales offices do not carry inventory but provide selling functions for the manufacturer in a specific geographic area. Because they allow members of the sales force to be located close to customers, they reduce selling costs and provide better customer service. Manufacturers showrooms permanently display products for customers to visit. They are often located in or near large merchandise marts, such as the furniture market in High Point, North Carolina. Vertical Marketing Systems A vertical marketing system (VMS) is a distribution channel structure in which producers, wholesalers, and retailers act as a unified system. One channel member owns the others, has contracts with them, or has so much power that they all cooperate. A conventional distribution channel consists of one or more independent producers, wholesalers, and retailers. A vertical marketing system, on the other hand, provides a way to resolve the channel conflict that can occur in a conventional distribution channel where channel members are separate businesses seeking to maximize their own profitseven at the expense sometimes of the system as a whole. The VMS can be dominated by the producer, wholesaler, or retailer. There are three major types of vertical marketing systems: corporate, contractual, and administered.

A corporate VMS is a vertical marketing system that combines successive stages of production and distribution under single ownershipchannel leadership is established through common ownership. A little-known Italian eyewear maker, Luxottica, sells its many famous eyewear brandsincluding Giorgio, Armani, Yves Saint Laurent, and Ray-Banthrough the worlds largest optical chain, LensCrafters, which it also owns. A contractual VMS is a vertical marketing system in which independent firms at different levels of production and distribution join together through contracts to obtain more economies or sales impact than they could achieve alone. Coordination and conflict management are attained through contractual agreements among channel members. The franchise organization is the most common type of contractual relationship. There are three types of franchises: manufacturer-sponsored retailer franchise system (Ford Motor Co.), manufacturer-sponsored wholesaler franchise system (Coca-Cola bottlers), and service-firm-sponsored retailer franchise system (McDonalds). The fact that most consumers cannot tell the difference between contractual and corporate VMSs shows how successfully the contractual organizations compete with corporate chains. An administered VMS is a vertical marketing system that coordinates successive stages of production and distribution, not through common ownership or contractual ties, but through the size and power of one of the parties. Manufacturers of a top brand can obtain strong trade

cooperation and support from resellers (P&G). Large retailers such as Wal-Mart can exert strong influence on the manufacturers that supply the products they sell.
Using export agents

What is the role of the export agent?

Let us begin by defining an export agent. An export agent is a firm (or individual) that undertakes most of the exporting activities on behalf of an exporter usually for a commission. A key feature of the traditional export agent is that they never really take ownership of the goods, which always remain under the control of the exporter. The agent thus will do most of the marketing of the principle (i.e. the export firm) and the firms products.

What exactly does the export agent do?

The agent may travel abroad, do research, prepare an export plan, advise the exporter on how to adapt their marketing mix, make contact with potential buyers, negotiate deals with the buyers, take care of all promotional activities, handle the logistics and documentation, and much more. All of these tasks, the export will do on the exporters behalf. The exporter normally pays the agent for the expenses they have incurred marketing the firms products and handling the export administration, and will generally earn a commission on any sales generated. In essence the export agent becomes the exporters export department. In some cases, the principle will want to keep tight control over the agents activities, while in other instances, the agent is given free reign. Some companies may employ an agent for very specific tasks such as undertaking marketing research or handling the export administration and logistics only.

Using an agent is a relatively easy and painless way for a local company to enter the export market, as they generally have to do very little the agent does all (or at least some) of the export marketing on the firms behalf.

Things you need to look out for

When seeking an export agent to assist you, you need to bear the following in mind:

Does the export agent have the skills and experience to do the job? Does the export agent have the technical knowledge to market your product(s), especially if you are selling a very technical product? Does the export agent have a good network of contacts that he/she can turn to for help? Does the export agent have a working knowledge of the foreign marketplace (for example, do they understand the culture and speak the language)? How many other companies does the export agent represent? Does the agent represent any competing or similar products? Does the agent represent any complementary products? Does the export agent have a suitable personality to successful market/sell your products abroad? Do you think that you can get on with the export agent on a personal level? Can the export agent provide you with any references from other companies they have helped, and if so, go ahead, check these references? Do you agree with how the export agent proposes to market your products? Is the export agent affordable (is he/she proposing reasonable expenses and commissions)? Is the export agent prepared to enter into a formal contract with you? Does the contract or agreement with the export agent impose any restrictions on you (a) in terms of exclusivity, (b) with respect to the period of the agreement, and (c) as far as non-performance or conflict issues are concerned (i.e. can you get out of the contract if you need to)?

Agency Contract

On this, ExportHelp provides you with some of the issues you will need to consider when negotiating an export agency contract. These include the following:

Who are the parties to the contract? Every contract should clearly indicate who are the individuals or companies involved in the contract. There will also normally be a clause in the contract that requires both parties to keep the other informed of any change of ownership, control, or management. Normally, if there is any change in the control or management of the agent that is unacceptable to the exporter, or if the agent uses the services of anyone unacceptable to the exporter, or if the agent ceases to do business or becomes insolvent, then the exporter will have the right to cancel the contract. It is also not uncommon to include a clause which requires the agent to agree not to use anyone other than a principal officer, or regular employee of its firm to sell the company's products (i.e. no sub-contracting is permitted). What services are being contracted for? Again, each contract should indicate exactly what services are expected of the export agent that is, what are the agents responsibilities. These responsibilities might include undertaking marketing research, advising the exporter on adapting their market strategy to meet customer needs, promoting and demonstrating the exporters products to customers, participating in trade exhibitions, liaising with potential customers, undertaking sales promotion and selling activities, providing product training, providing after-sales support, handling enquiries and complaints, and keeping the exporter informed of developments affecting their activities in the country/region in question. What is the legal status of the agent? It is essential that the contract clarify the legal status of the agent as an independent contractor to the exporter and highlight whether the agent has any legal authority to enter into legally binding contracts on behalf of the export this is seldom the case. What product(s) will the agent represent? It could be that the exporter is interested in negotiating that the agent represents only specifically products and not all of the products of the exporting firm. This is an important issue. If an agent is appointed generally then one might reasonably assume that he/she has the right to market all of the products of the exporter and the exporter may not want this! On what basis will the export agent be rewarded? Normally a commission is applicable, but it is essential to spell out how this commission will be calculated. For example, it is not uncommon to use the FOB price of the product rather than a CIF or landed price, as you will then be paying commission on top of insurance, freight and duty costs. You

also need to agree as when this payment will be made say 14 days after receiving payment from the buyer. Sometimes a fixed fee is negotiated, and this needs to be clearly stated. Who will pay for any expenses incurred by the export agent? In what currency will commissions or fees be paid? What will happen if the buyer cancels the contract because of no fault of the agent? Will you still pay the agent his/her commission? What price will be applied to the product and who decides on this price? It is important for the exporter to keep some control over the pricing of the product(s), otherwise the agent may take pricing decisions that are harmful to the company. Who is responsible for incurring and paying expenses? Sometimes the exporter will agree that the agent can incur certain expenses such as the printing of brochures, business cards, or the placing of advertisements. Other expenses that may be incurred by the agent on behalf of the exporter include: Travel and accommodation expenses, as well as expenses related to telecommunications, research, legal services, administrative services, etc. Who will pay for these fees and if the agent is to incur these expenses on the exporters behalf, will the exporter pay everything or only a portion thereof; will approval first need to be obtained; will the exporter be expected to pay these expenses him/herself; will payment of expenses be made up to a fixed level? What geographical area (territory) is the agent responsible for? It is not uncommon to appoint an agent for a sub-region within a country (such as for certain states in the US). If this is not specified then it could be assumed that the agent is responsible for the entire country, of worse still, for the entire world. Make sure you specify the country and the sub-region (e.g. province, state, city, etc.) within the country, if this is applicable. What support will the exporter give the agent? Besides for paying the agent commission and perhaps paying for certain expenses, the agent might expect the exporter to provide promotional material, samples, training and any other related support. These expectations need to be clearly specified. How long will the contract remain in force? It is very dangerous to agree to a contract that has no end. Perhaps you need to add a revision period after which time the contract will be revised (or renegotiated). What performance (success) is expected from the agent? Besides expecting the agent to perform certain task such as undertaking research, promoting the product, taking part in exhibitions, etc., it is also reasonable to expect the agent to actual close some deals. Will you specify how many sales or what value of sales the agent is expected to achieve within a period of time? What will happen if the agent does not achieve these sales levels (after all, it might not always be the agents fault perhaps your product is just not suitable for the marketplace)? What communication do you expect with your agent? Will the agent be expected to keep you informed of developments? Perhaps, but how often and in what form should this happen? Expecting an agent to report back every week is perhaps asking too much and expecting a ten page report from the agent is also perhaps overly optimistic. Perhaps you might require the agent to provide brief feedback via e-mail on a monthly basis and to report back more formally every six-month or annually. On what basis can the contract be terminated? If the contract is for a specific period, then presumably it will come to an end at the end of this period, unless renewed by written agreement by the two parties. But what happens if either party wishes to cancel the contract for any other reason? You may wish to include a clause that allows either party to terminate the contract before its expiration for any reason say 30/60 days after providing written notice thereof. Finally, the contract can be terminated if either party is in breach of the contract or any clause therein. What about any orders solicited by the agent before termination? Normally the contract will include a clause indicate what the exporters and agents obligations are on expiration or termination of the contract as far as any orders received before or six months (or any other negotiated period) after expiration/termination of the contract, if such orders/sales are as a result of the agents efforts. What about the copyright and trademarks belonging to the exporter? Normally the contract will specifically state that agent agrees to respect and protect (i.e. not misuse) any trademarks, trade names, copyrights or other intellectual property belonging to the exporter. The contract may also state that the agent will not do anything to harm or jeopardise the exporters reputation or that of its products. Where will jurisdiction take place? If there is disagreement and the two parties need to resolve the matter in court, which countrys courts will have jurisdiction over the matter? While one might argue that it must be the South African courts, some countries have laws in place requiring their courts to decide on the matter, and you will need to abide by these requirements if you wish to do business in that country. What about confidentiality? It is important to include a clause that requires the agent to keep confident and safeguard all business and technical information that it receives from the exporter and the exporters clients. Where will notices i.r.o. the contract be sent? All contracts have a clause which indicates where all official communication and notices i.r.o. the contract should be sent (postal address, fax number, e-mail address, etc.). What about other clauses? Contracts represent a mind field of potential legal loopholes and most contracts contain standard clauses intended to protect and/or clarify the liability of the parties involved. These clauses include; limitations on liability which states that neither party has any liability to the other party in contract, except as spelt out in the agreement; right to enforce which states that if the agent fails to enforce any provision of the agreement at any time, the exporter still retains the right to do so later on; execution and modifications which states that this is the only and entire agreement between the parties when duly executed with regard to sales rights in the specified country or region and also states how the contract may be modified, if and when necessary.

You must work through a lawyer

We at Export Help strongly recommend that you put any contract that you intend to sign (especially contracts involving overseas persons or companies) before a competent lawyer (i.e. someone familiar with international law). You may even want to approach a lawyer in the country concerned to obtain their legal opinion. Click here to access a list of lawyers specialising in international matters.