The Future of Business Across the Border
To be able to do business easy south of the border is a great idea for some business people. I know myself as a business person this is a great concept to be able to leverage. For some this would give a greater customer base. It is true in today age of computers and the Internet this is more of a reality. But there are still cross border rules and regulations to have to deal with. There is still a lot of red tape to get through too.
I know for me one of my major product supplier is in the United States. For my US customers that is great. For my Canadian customers this fact causes issues. This is because of cross border issues and the exchange rate between United States and Canada.
Maybe not everything will change for the benefit of cross border business. We are sure that some things will benefit cross border business.
Cooperation Between Alberta and Arizona
This is what Alberta and Arizona have done earlier this year. Phoenix and Calgary are sister cities. Thus, things between Arizona and Alberta are moving in a more efficient business venture. Back in April 2015 the governor of Arizona Douglas Ducey signed into the law Senate Bill 1447. This has been a forward step. So Arizona and Alberta can have better business dealing. All that Alberta had to do at that time was to declared Arizona to be a reciprocating jurisdiction. This takes place under the Alberta Statute.
What does that mean for business owners both big and small. Alberta Businesses and Arizona Businesses can do business transactions between province and state. It will effect loans, employment etc. for the positive between the two.
This means for a business owner like me can do business in the states will be more efficient with less red tape. I think that all business people all would like that to be in place. This is a win win for both sides of the border.
Details From Miller Thomson
Miller Thomson provided the following details.
Some of the common judgments to enjoy this reciprocal Statutes are the following;
- Residential or commercial mortgages and other loan agreements
- Employment, agency or partnership agreements
- Real estate or commodity buy and sale or lease agreements
There are two important considerations that must be investigated. A creditor for debt enforcement needs to do these.
- The limitation period under which any action taken in the reciprocating jurisdiction. This is usually two years or less.
- The existence of any other statutory and common law means of enforcement that needs to be commenced on a timely basis. This is so the creditor’s rights can be preserved.
Finally, all cross border business transactions need to ensure that they include the following provisions. Thus to assist in the enforcement of the business agreement.
- First the Submission to the jurisdiction of the reciprocating jurisdictions
- Second the Acknowledgment that the parties are doing business in the reciprocating jurisdictions throughout the term of the contracts.
The lawyers of Miller Thomson have spent many hours making sure that everything is in order. So that this business concept will go forward.
Great Ideas Because of Sister Cities
To think that this great idea came from the visit of Phoenix mayor to Calgary last year. This shows the good things that can take place because of sister cities. This has been one giant step for business, one small step in better business relations. It can only get better from here.
With the expanse of the Internet. Also the great accumulation of the Internet of Things (IoT). We do not knows what will be the next bridge in business. You might think that this writer is might be reading into things. It could be. There has been many great things that have happen over a short time lately with communication. There are more and more items that can communicate with you through your cell phone Apps. I think that these facts will effect and will improve such business relations.
From the beginning of the influence of the Internet, business has improved. There has been better communication. Greater business working base created. More efficient ways of service have come about because of the Internet. I am sure the Internet will aid in cross border business reciprocal enforcement. The Internet will also provide great benefits in other ways.
I want to thank Miller Thomson and lawyers like Gerald Chipeur. For all the work that they have put into this great project between Alberta and Arizona. Without their knowledge of the law and their willingness to make this happen it might still just be a memory. I hope that such actions will aid in the development of new business. Also the enrichment of businesses everywhere in Alberta. I also hope that the same will be true for businesses in Arizona.
Now because of economic recession a step forward will only mean progress. The question is. How many Alberta businesses will take advantage of this cross border progress? The hoped is that the recession that we are seeing in Alberta has not put a damper on those businesses. That they are still able to take advantage of the opportunities created by this idea.
How about you. Do you have a business that might benefit by this agreement? Have been looking for a new Avenue from which to expand your own business. Do you think that this is a good Avenue for Alberta businesses to look at for expansion? Is it the correct time for Alberta businesses to take advantage of cross border business? I leave you with some questions here for you to ponder. We would like to know your views on this idea. Tell us how this would benefit or not benefit the future of Alberta business.
Thank you for your comments and views.