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Article

21 Jun 2013

Author:
Corinne Lewis, Lex Justi, in American Bar Association International Law News

Don’t Overlook Human Rights Risks When Negotiating and Drafting International Commercial Transaction Agreements

Lawyers should take into account a newly emerging issue when handling international commercial transactions for goods and services—managing human rights risks. Disregarding these risks can have serious financial and reputational consequences for the client, as a number of major corporations have experienced…Lawyers working on international commercial transactions are already seeing new legislative and regulatory measures that address human rights concerns in a company’s supply chain…Businesses, as well as the lawyers who advise them, will likely witness the increasing predominance of human rights as a part of businesses’ risk management and corporate responsibility strategies in coming years. Consequently, lawyers advising purchasers and suppliers of goods and services need to understand the relevance of human rights to international transaction…[Refers to Apple, Foxconn (part of Hon Hai), H&M, Hon Hai]