Middle East

Ince warns Asian clients on dealing with Iran

Law firm Ince & Co has sent out a circular to its Asian clients, warning on the perils of dealing with Iranian companies in the post-sanctions era.

“It is important that anyone considering conducting business with Iran remains vigilant and continues to carry out appropriate due diligence on proposed counterparties, and seeks legal advice to ensure that they comply with any remaining restrictions and are suitably protected in their contracts,” the law firm warned in a circular.

Ince lawyers said it is also vital to check insurance and finance arrangements to ensure that there are no restrictions that preclude conducting business in or with Iran or Iranian entities.

The lawyers also noted that Iran scores highly on the Corruption Perception Index, so it is important to ensure that suitable anti-bribery and corruption policies are put in place to help to mitigate risks.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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