Contract Law in Thailand
Contract law in Thailand is based on several principles that are very similar to the ones that function in within Western law as well, stipulated in the Thai Civil & Commercial Code, abbreviated TCCC, which consists of three Books.
Conditions of contract signing in Thailand
Our lawyers inThailand advise you regarding several important aspects involving contract signing between companies or persons, namely that the presence of two competent witnesses is mandatory. The contract must be drafted in the Thai language in order to be perfectly valid, or translated in this language.
Most attorneys in Thailand will counsel you not to let yourselves deceived by the so-called standard contracts, as it often happens, and always make sure to verify very carefully all the provisions of the contracts. A lawyer’s opinion on all these aspects is vital, as he will have to verify that the clauses are, in fact, legal, non-abusive and can be enforced by the law in case it will be proven necessary.
Contract reviewing services in Thailand
Our Thai lawyers stress the importance of contract review, which has become a vital issue due to several factors. Consequently, the following points must be taken into account:
• The verification of the contract in order to make sure that it does not lack any conditions that, for various reasons, have not been introduced among the other provisions.
• The contract may not include important information about the payment of penalties that may be applied, in case some stipulations have not been made or some actions have been delayed passed the due date and then this aspect will become significant.
• Our Thai law firm assures you that numerous contracts signed during the recent years presented many errors as well as omissions that eventually caused many misunderstandings and problems.
Mostly sales contracts bring out a lot subsequent issues, especially in the cases involving the sale of an establishment that is currently being constructed. That being the case, the contract must necessarily include, apart from the blueprints and plans, the specific schedule and standards that regulate the construction of the establishment.
We invite you to contact our team of legal experts for more information related to contract law in Thailand, while our Thai lawyers will verify the accuracy of your company’s contract provisions and provide you with the best specific counsel.