Turning a verbal agreement into a solid one

[mertf]

Hello all,

I live in Virginia. My friend and I have been in a verbal business agreement where I find the products and/or services, and my friend uses his connections, in which we would sell them to country Z. And now for the first time, we have the opportunity to buy some supplies from country A, and sell it to country Z, using a government contract we are getting from the country Z.

While it is not certain, we are probably going to use my friend's company located in the US to initiate the transaction.

How do I go about insuring myself against having to be taken advantage of when we only have a verbal agreement? What steps I should take to protect my efforts, and my ROI?

Your advice is greatly appreciated since I have never done such business transactions.

Thank you,
Kind regards to all

 

[Zigner]

Frankly, your question is too complex to rely on an internet forum. I would suggest that you seek a consultation with a local business attorney that is familiar with international trade. S/he will be able to advise on further steps for you.

Best of luck in your venture!