Chinese law. A four-keynote when dealing with Chinese partner (liquidated damages, err, dispute and chop)
Chinese law. A four-keynote when dealing with Chinese partner (liquidated damages, err, dispute and chop)

Summary/Abstract: I recognize that the foreign enterprise dealing with Chinese partner not willing to act and conduct business half blind, should beyond the law(s) in the books, search for and acknowledge with Chinese culture, customs, entrenched practices, try to make sure the contract he or she wants to be enforceable and effective, be executed and chopped by Chinese partner, with the stipulated genuine estimation of liquidated damages and mutual understanding of wrongdoing or err when performing contract and be ready and willing to negotiate contract not only before its signature but most importantly upon its execution and thereafter.

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