Simply Trade

Do Your Trade Contracts Have Teeth?

Listen Later

With everchanging trade policies around the world, it is more important than ever to write strong tariff protections in your contracts for both you and your trade partners.


Marina Mekheil from Schultz Trade Law reveals the essential strategies for protecting your business in an increasingly complex global trade landscape. With tariffs and enforcement actions threatening business operations, understanding contract nuances has never been more important.

"Your contracts have teeth... it's not ugly to write contract terms that are clear." - Marina Mekheil

Connect with Marina:
website: https://www.schulztradelaw.com/our-team/marina-mekheil
LinkedIn: https://www.linkedin.com/in/marina-mekheil-84aa85b1/ 


Main Takeaways:

  1. Contract Clarity is King
    • Always have written agreements, not just verbal understandings
    • Include explicit terms about duty payments, customs clearance, and tariff responsibilities
    • Create flexibility with renegotiation clauses
      1. Protect Your Business
        • Include arbitration clauses
        • Add indemnification agreements
        • Require transparency on HTS codes and tariff calculations
        • Consider test contracts with new trading partners
          1. Proactive Compliance Strategies
            • Involve multiple departments in trade compliance
            • Understand the implications of Incoterms beyond surface-level interpretations
            • Be prepared for rapid regulatory changes


              • In the midst of all this chaos, education is your best ally. Access Exclusive Resources Here ⏬
              Recommended Resources: 
              Check out these courses we offer here at GTC! 👀🌎
              📩Importing https://globaltrainingcenter.com/importing-procedures/ 
              😵‍💫Tariff Classification https://globaltrainingcenter.com/tariff-classification/ 
              🗺️Country of Origin https://globaltrainingcenter.com/country-of-origin/ 
              👓🧠Surround yourself with other trade professionals: Join our Trade Geeks Community!  https://globaltrainingcenter.com/trade-geeks/ 
               
              Connect with Simply Trade Podcast:
              - Subscribe: https://www.youtube.com/channel/UCdmyGU5foKm4aFlpo7Oms4g
              - LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast/
              - Twitter: https://twitter.com/SimplyTradePod
              - Website: https://globaltrainingcenter.com/simply-trade-podcast/
               

              Connect with Simply Trade Podcast:
              - Subscribe: https://www.youtube.com/channel/UCdmyGU5foKm4aFlpo7Oms4g
              - LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast/
              - Twitter: https://twitter.com/SimplyTradePod
              - Website: https://globaltrainingcenter.com/simply-trade-podcast/

              Contact Us/ Suggest Topics
              Contact: [email protected]

              Credits:
              Host/Producer: Lalo Solorzano: https://www.linkedin.com/in/lalosolorzano/
              Co-Producer/Editor: Mara Marquez: https://www.linkedin.com/in/maramarquez85/
              Host: Andy Shiles: https://www.linkedin.com/in/andyshiles/
              ...more
              View all episodesView all episodes
              Download on the App Store
              Simply TradeBy Global Training Center
              • 4.6
              • 4.6
              • 4.6
              • 4.6
              • 4.6

              4.6

              22 ratings

              More shows like Simply Trade

              View all
              Hidden Brain by Hidden Brain, Shankar Vedantam

              Hidden Brain

              43,717 Listeners

              Motley Fool Money by The Motley Fool

              Motley Fool Money

              3,234 Listeners

              WSJ What’s News by The Wall Street Journal

              WSJ What’s News

              4,361 Listeners

              The Mindset Mentor by Rob Dial

              The Mindset Mentor

              13,605 Listeners

              Global Trade This Week by CAP Logistics

              Global Trade This Week

              4 Listeners

              The Daily by The New York Times

              The Daily

              112,842 Listeners

              Up First from NPR by NPR

              Up First from NPR

              56,953 Listeners

              The Trade Guys by CSIS | Center for Strategic and International Studies

              The Trade Guys

              151 Listeners

              On Purpose with Jay Shetty by iHeartPodcasts

              On Purpose with Jay Shetty

              27,726 Listeners

              Two Minutes in Trade by Sandler, Travis & Rosenberg, P.A.

              Two Minutes in Trade

              32 Listeners

              Consider This from NPR by NPR

              Consider This from NPR

              6,450 Listeners

              The Ezra Klein Show by New York Times Opinion

              The Ezra Klein Show

              16,221 Listeners

              The Big Take by Bloomberg

              The Big Take

              155 Listeners

              The Weekly Show with Jon Stewart by Comedy Central

              The Weekly Show with Jon Stewart

              10,501 Listeners

              The Tucker Carlson Show by Tucker Carlson Network

              The Tucker Carlson Show

              16,993 Listeners