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Srinivas G (Company Secretary)     22 February 2013

Agreement with a foreign party

If  an Indian company wants execute an agreement with a foregin company;

a) what should be the stamp duty on the contract?

b) what is the consequence of non stamping of agreement?

3) In case of any vailation/breach of  such contract, what is the remedy avaiable for the aggrieved party?

4) Which court shall have the jurisdiction and

5) How the foregin party is summoned to courts?

I request the honourable to memebrs to give your guidance.


 1 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     22 February 2013

In the event of any dispute or difference arising between the parties or as to the rights and obligations under the agreement or as to any claim. monetary or otherwise of one party against the other or as to the Interpretation and effect of any terms and conditions of the  agreement, such dispute or difference shall be referred to arbitration of a common Arbitrator if agreed upon or otherwise to two Arbitrators, one to be appointed by each of the parties to the agreement and such Arbitration shall be governed by the Indian Arbitration & Conciliation Act, 1996. The venue for such Arbitration shall be ………….... in India.

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