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What are the things to be taken care of when signing a contract with forged companies?


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Hey guys,

I hope everyone is safe and is having a good time. I plan to start a forged equipment exporting company. There is a high demand for forged equipment due to its corrosion resistance. It's challenging to find quality forged parts providers. I have contacted a steel forging company that my friend suggested and fixed an appointment by the end of this week. As I require bulk material, I need to consult other manufacturers also.

Has anyone here contacted a forging company before? What are the things to be taken care of when signing a contract with such companies?

Thanks!

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I suggest you retain a good commercial and international law firm.  If you are doing this on a largish scale you need really good legal assistance to keep from getting wrapped around the axle.  There are so many pitfalls in commercial contracts and the export business that trying to do it without competent legal assistance is like trying to detect mines by stamping your foot while wearing a blindfold. This is assuming that you re not a troll who needs and deserves wrapping. 

"By hammer and hand all arts do stand."

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Contact legal counsel that is knowledgable with international laws and contracts.  And additional legal counsel that is knowledgable with contract law between you and the steel forging company and other manufacturers.  This is a business venture and you need to have things straight before you start.  

As a business you should already have your business plan formed, accountants, business personal and etc hired and ready.  If you are producing forged equipment, you should have already looked at copyrights, trademarks, international shipping and customs papers that will need to accompany the product.

 

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I can't think of anything specific you would need to arrange with a forging company that would be different than with any other company. You need to know exactly what you want them to produce and you need to clearly communicate your expectations. You need to clearly understand the needs of your customers, including industry and customer expectations. These are all things you'd have to do with any company though.

Patrick

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