UK Legislation
Due to the nature of IT businesses, which assume cooperation with IT providers located across the globe, customers often stand in an uncertain environment as they conduct business with different providers in multiple locations and operating under multiple jurisdictions at once. This creates lots of difficulties and becomes a sort of risk as the clients need to be aware of laws and regulations across different markets to indemnify their own businesses and avoid contingent issues in future.
With respect to our clients located all over the world, being a Europe-based company, we operate in the market under European law and the agreements with our clients are usually governed by the laws of Great Britain. According to our standard Agreement we understand that:
“All disputes arising out of or in connection with the present AGREEMENT, including any question regarding its existence, validity or termination, shall be exclusively and finally settled by arbitration under the Rules of Arbitration of the court of King’s bench, London, UK (“RULES“) by one (1) arbitrator in accordance with the said RULES. The seat of arbitration shall be London, UK. The procedural law of this place shall apply where the RULES are silent. The language to be used in the arbitration proceeding shall be English”. © Copy of material included into our usual Agreement.
At AltexSoft we understand the huge differences in regulatory systems in various countries with different standards in working processes, accounting, finance, IP etc, and the real challenges in creating a workable agreement which will protect both parties’ rights and obligations. We adopt high level of flexibility on the subject of Legislation and try to be understanding towards our partners and always ready for a compromise.
This flexibility allows us to expand in the market and successfully conduct business with the customers from the USA, the United Kingdom, Finland, Germany, Netherlands, Israel, Ireland, Australia and other countries.