Negotiating sales and contracts
See what it takes to negotiate a price with overseas buyers, draft an export contract and conduct your due diligence when entering a new export market.
Get help responding to a request for a quotation
Pitching your business, or responding to a tender, in an overseas market are common ways to generate new business. But the challenges you may face are different to those in the UK.
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If you don’t speak the language you may need to use a local partner to communicate your offer. You can improve your chances of success by speaking with other UK companies who work with your potential buyer. Similarly, trade associations in your sector may be able to offer you advice.
Negotiating a price for exports
You may need to negotiate on price when pitching for new business – especially if you’re selling your product through distribution partners, or as part of a tender process.
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How long this takes depends on many factors, such as the complexity of your market, who you’re selling to, volume of sales, and how negotiations are handled culturally in your target market. To understand how negotiations take place in your new market, work with local partners who have experience of doing business in the region.
Understand how to conduct due dilligence
Due diligence is a common business process where you perform a detailed review of a potential customer or client before you start doing business with them.
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Due diligence doesn’t just mean pages of detailed documentation. It can also mean simply asking the right questions at the right time, keeping your eyes open to things that feel irregular, and getting the right advice if something doesn’t feel quite right.
Get legal advice
The Foreign, Commonwealth & Development Office (FCDO) provides lists of English-speaking lawyers abroad to help British nationals find the legal support they need.
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You can use this service to find legal representation by country or a more specific location, or by a particular area of legal expertise, such as IP law, property law or tax. All lawyers on the lists have confirmed they can provide services in English.
Drafting a contract for export sales
It’s important to draft a contract as soon as you’ve found a potential buyer for your product to make sure you have complete clarity on everything you agree.
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Every contract will be different and dependent on what you agree with the buyer. Seek international legal support to help you with any contract, both in the UK and within your chosen market – they will have expert knowledge of local laws and key contract considerations.
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