German Commercial Law is frequently also referred-to as special private law for business people and business enterprises. That is to say that the rules and regulations of German commercial law are specifically meant for the business professions for whom they are in so far extremely important, as they modify and/or complement a vast range of regular civil laws. Outstanding examples for this are the provisions concerning the lack of formal requirements for commercial sureties and guarantees (also performance bonds), the tighter terms provided for notices and complaints of defects of goods and warranty for commercial sales as well as the special provisions governing contractual penalties to which a business man agrees in the course of operation of his business.
In spite of the increasing internationalization which makes itself felt in accounts presentation and financial reporting requirements the rules and regulations concerning the keeping of account books, which are part of the German Commerial Code, still play an important part. In this context specific examples which are to be given special attention are the regulations concerning valuation under German commercial law and annual financial statements under German commercial law (preparation of balance sheet) as well as the provisions governing depreciation such as it is to be practiced in line with German commercial law.
In addition the legislative also incorporated yet other significant legal institutions in the German Commercial Code, such as, for example, the provisions pertaining to commercial agents. as well as basic regulations concerning transport and forwarders’ law.
The various legal fields and matters covered by German commercial law are handled not only by our offices’ certified expert lawyers for commercial and company law, but just as well by those of our expert lawyers who are well versed in all matters of fiscal law and also by certified expert lawyers for transport and forwarders’ law.