When it comes to international agreements and contracts, it`s important to include a clause that specifies which laws will govern the agreement and how any disputes will be resolved. One common clause is “This agreement shall be governed by and construed in accordance with the laws of Thailand.”
This clause is known as the governing law clause and is designed to provide clarity and certainty in case of any legal disputes. By choosing Thailand as the governing law, the contract parties are agreeing that any legal disputes will be resolved in accordance with Thai law.
Thailand has a robust legal system and a well-developed body of commercial law, making it a popular choice for businesses that operate in the region. As a result, the country has become a hub for international trade and commerce.
When drafting a contract with a governing law clause, it`s crucial to ensure that you understand the legal system of the chosen jurisdiction. An experienced lawyer can help you navigate the legal landscape of Thailand and ensure that your contract is enforceable in the courts.
It`s also worth noting that a governing law clause does not guarantee that any dispute will be resolved in a particular way. However, it does provide clarity on how any legal disputes will be handled and which laws will be used to interpret the agreement.
In conclusion, including a governing law clause in your contract is essential for ensuring that the contract is enforceable in the event of a dispute. By selecting Thailand as the governing law, you are choosing a country with a robust legal system and a wealth of experience in handling international legal disputes. If you are unsure about the legal implications of a governing law clause, it`s always best to seek the advice of an experienced lawyer.
