Business Contract Concerns

Summary

To ensure the legitimacy of a Chinese company and its owner, verify registration details through official Chinese business registers and consult a legal professional in the UAE. Key concerns in the contract include unclear profit-sharing terms, broad confidentiality clauses, governing law under Bulgarian jurisdiction, and the use of cryptocurrency for fund transfers. These elements may pose risks and complications. Consider seeking legal advice to clarify these points and protect your interests.

Full Conversation

Ask you weather this co pany exist in reall or this man is he the oener of this company ?
I can't verify the existence of a company or individual ownership. To confirm whether ZHONGXI METAL LTD. or Sengupta Subhajit are legitimate, consider:
- Checking the company's registration details through official Chinese business registers.
- Verifying the contact information provided.
- Consulting with a legal professional in the UAE for assistance.
Accordibg to you there isnt any conoany in china ?
I can't directly verify the existence of a company or individual ownership. To confirm whether ZHONGXI METAL LTD. or Sengupta Subhajit are legitimate, you should:
- Check the company's registration details through official Chinese business registers.
- Verify the contact information provided.
- Consult with a legal professional in the UAE for assistance.
Would you like guidance on finding legal professionals in the UAE?
And whay are the negative points according to this agreeme t which dosent make sense
Case Rating: *
Here are some potential negative points in the agreement:
- Profit Sharing: The profit-sharing ratio is unclear, as it states "equally in a ratio of */*," which is contradictory.
- Confidentiality: The agreement’s confidentiality clauses may be too broad and restrictive.
- Governing Law: The agreement is governed by Bulgarian law, which might complicate dispute resolution for you in the UAE.
- Cryptocurrency Transfer: The use of cryptocurrency for transferring funds can be risky and lacks traditional financial protection.
Would you like more detailed guidance on understanding these points?
Yes more info
Case Rating: *
Here are more detailed points to consider:
- Profit Sharing: The agreement mentions sharing profits equally but then specifies a */* ratio, which needs clarification.
- Confidentiality: The agreement could restrict your ability to use or share information, potentially limiting your business operations.
- Governing Law: Bulgarian law might not be familiar or favorable to you, and enforcing rights in Bulgaria can be challenging.
- Cryptocurrency Transfer: Cryptocurrency transactions can be volatile and less secure than traditional methods, posing financial risks.
Would you like to connect with a local lawyer to further discuss these points and ensure your interests are protected?