Often forgotten but no less crucial, is the necessity of fiduciaries during international interactions. Their unique skill-sets are particularly distinctive and required.
In an International or Global transaction, fiduciaries can contribute because of their comprehension of both Contract and Trust Law and how to differentiate these laws in application. Oftentimes this is prerequisite to identifying jurisdictions.
It is best that International Fiduciaries are active at the very beginning of engagements. International laws and regulations can be complex. Comprehension is required to identify:
. venues, domains, and jurisdictions
. damage calculations
Fiduciaries must be transparent in behavior and methodology especially when determining future outcomes while performing in concert with Contracts and Trust Agreements. Since International Fiduciaries often assist in the creation of Contracts and Agreements that are presented in Courts of Law, participation and transparency is imperative at the very beginning.
In addition, costs can elevate very quickly during an international transaction so the subject matter expertise of a fiduciary becomes critical in making the transaction more efficient.
Outcomes are a byproduct of behaviors and methodologies. Fiduciaries must be present during international transactions to ensure that the client’s interests are best represented.