Commercial law

We advise on a broad range of commercial agreements, both on the supplier and customer sides. Our commercial practice typically involves a Bulgarian and an international counterparty. Our particular expertise is in the field of drafting standard terms and conditions on behalf of suppliers for on-line and off-line commerce. We also assist in the negotiation of licensing, franchising and marketing arrangements and the areas outlined below merit special mention as part of our practice.

Cross-border commercial transacting

We appreciate that commercial contracts need to meet clients' commercial goals but also keep within the requirements of the intricacies of Bulgarian law. We also appreciate that the contracts we advise on involve companies in multiple jurisdictions and that therefore there are often cross-jurisdictional issues which need to be addressed.

Trade finance

We offer quality service, advising on the full spectrum of finance and finance-related issues. We advise borrowers, lenders, lessors, lessees, debt and equity issuers, and guarantors in a wide range of capital market and other financial transactions. We deliver complex and comprehensive advice on all aspects of the financing including regulatory, tax, custody, and other aspects. We bring together the knowledge and expertise of lawyers from different practice groups to provide effective and creative solutions to our client's corporate financing needs.

Advice to the outsourcing industry

Bulgaria continues to vie as one of the leading European locations for outsourcing business services. The AT Kearney Annual Survey for 2009 ranked Bulgaria 13th as a global outsourcing destination. To tap into the advantages of the trend in outsourcing a variety of business processes, businesses need to ensure that a range of well-conceived legal protections and guarantees are in place.

We can help deliver such flexibility for outsourcing companies by preparing and negotiating the master and ancillary outsourcing contractual terms. It will also be essential for counterparties to an outsourcing arrangement to ensure there are adequate transitional services in place both when the processes are first outsourced and again upon cessation, or replacement of a previous provider.

We can help Bulgarian providers ensure that they are adequately protected in the initiation and continuation phases by ensuring the appropriate allocation of risk.

Recent work:

Advising on an LCIA claim

Suppliers with less bargaining power sometimes accede to arbitration clauses which make bringing or defending a claim prohibitively expensive.

In such cases, it is especially important when acting for the potential claimant (and subject to a judgement on the overall viability of the claim), to offer a cost-effective solution to allow the claim to get off the ground. This may include assessing whether the arbitration clause is likely to be found effective or pathological, and whether it may be permissible and advisable to launch court proceedings instead (which can be more economical especially in their early phases).

It is also helpful to be able to rely on advice which is simultaneously excellent in relation to both the jurisdiction in which enforcement is likely to be sought (e.g., Bulgaria) and the jurisdiction whose governing law the parties have agreed to apply or which applies for another reason.

NBLO recently acted for a potential claimant in such a situation alongside the client's existing Bulgarian counsel to advise on the interplay of the arbitration rules of the London Court of International Arbitration (LCIA) and Bulgarian law and on the mechanics and prospects of a claim. We regularly and successfully collaborate with clients’ existing counsel to achieve the best results for such clients.

© New Balkans Law Office 2020