Problems that May Encounter in Executing Procurements in Another Country

International Regulation
Student’s Name
Institutional Affiliation
Instructor’s Name
Course
Date
International Regulation
Discuss some of the differences encountered when executing procurements in the countries examined.
When executing procurements, several differences are evident among the thirty-four countries presented in this analysis. Firstly, Sri Lanka, the Philippines, the Democratic Republic of Congo, and Pakistan have no statutory limits on interest rates. Secondly, there is limited agreement on the freedom of contracts available (World Bank, 2014). Among the thirty-four countries, differences in the law prohibiting agreements dealing with alienation of real property exist. An example of the application of this law is where the buyer is restricted from selling a specific property for several years after purchasing it (Möllers, 2018). The prohibition is enacted in fourteen countries. Nine out of the fourteen implement the restrictions when foreigners are involved in the transaction. The remaining countries allow for this form of contract on a provision basis.
Central Asia and Europe do not differ regarding procurement measures among the seven regions covered. In comparison, the rest of the six regions, mainly Sub-Saharan Africa, had many different types of limitations. For instance, the Democratic Republic of Congo had the fewest differences in the overall sample of thirty-four countries (World Bank, 2014). In contrast, Togo had the most significant number of limitations to executing procurements. Togo is the only country in Sub-Saharan Africa that allowed the courts to deny freedom to enforce a contract based on inadequate consideration.
Across the thirty-four countries, only Uruguay, Brazil, and Colombia in Latin America and the Caribbean rejected the law of choice dealing with international contracts. In Singapore, broad negotiating power exists in comparison to other countries. The country has an outstanding level of assurance in the effective enforcement of contracts. The minimum limitation on procurement contracts and resolving conflicts in courts, which takes a minimum of one hundred and fifty days, is the crucial law enacted in this nation. In Sri Lanka, there are few limitations in procurement contracts, but it takes four years to solv...