Signing Contracts with a Spanish CompanyUpdated on Thursday 12th January 2017
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Spain is one of the most attractive European countries for doing business, after its economy has recovered from the deep economic crises that affected the country in the last years. The foreign investors can benefit from the strategic geographic position of Spain as a gateway for the markets in the south of Europe, Latin America and North Africa. Nowadays, over 10,000 foreign companies are established in Spain and the Spanish economy is known as the 14th in the top of the world’s largest economies and the 5th in Europe. Our team of lawyers in Spain can offer more details on this matter.
When coming for doing business in Spain, the foreign investors should know the basic rules for signing contracts in this country. Every business contract needs to be signed and, in the signature block, there are to be found three elements: the signature, the name of the person who signs the contract and his/her legal position.
The representatives of a company who can sign a contract
This is important in order to establish if a company was legally represented by a certain person as a company can invoke undue representation, according to the First European Directive on Company Law. The representatives of a company are to be found in the articles of association of the company. There are also other persons who can represent a company through a power of attorney and, in this case, in the signature block, it must be identified the person as the attorney-in-fact.
Below, investors can find out more details on how to sign a contract with a Spanish company:
In case of a limited partnership, if a company is represented by another company, in the signatory block should be mentioned both the name of the represented company and the name of the person who represents it. It is not mandatory to attach to the contract the power of attorney or other documents proving the legal right of representation, but for important contracts, especially when a lawyer is assisting, there are a few documents, such as the power of attorney, that are to be attached to the contract.
The pages of the contracts concluded in Spain are generally initialed, even if this practice is not common in other jurisdictions. The initialing person, who may or may not be the signatory of the contract, will place his/her initial next to the signature of the person or legal entity for which the contract is initialed.
If you need more details about signing contracts in this country, you may contact our law firm in Spain. Our Spanish lawyers provide legal assistance for concluding business agreements and contracts and they offer a wide range of legal services for foreign and local businessmen.