Tag Archives: marketing

Best Ebay Alternative Sites

EBay is certainly the biggest internet based totally auction internet site at the World Wide Web. Nonetheless, after the monolith will become too large, it tends to get dearer as properly. There are a ramification of tremendous eBay alternative picks that have arisen in recent times that are smaller in length, but very efficient and value fairly lesser than eBay. Countless people sense forced to search for an opportunity to eBay once they hold close that the corporation has been continuously escalating its list prices for auctioneers year after year. Fortunately, there are different innovative organizations like eBay that try to provide a competent eBay opportunity to such dissatisfied customers who enjoy the organisation is charging an unduly extended rate.

If you are seeking out a suitable eBay alternative that may deliver comparable offerings to your account at a greater fee effective way, you may recall those web sites that show up to be like eBay in a few ways, and price merely a fragment of eBay for the equal services.

Ecrater is a terrific eBay alternative that arrives for free of charge for you. It is a terrific net store construction device and additionally doubles as a loose net shopping for and selling machine. The higher part can be that if ever the product or service which you are supplying basically gets offered, you are capable of preserve all of the proceeds. There’s slightly something to lose while you positioned up your products for merchandising. Though, there is a value for top class-listed advertisements, which is the livelihood for this net-web page.

Like eBay, you have a further attractive public sale net-web page referred to as Bonanzle. The website is aggressive contestant and without delay trying to grow to be an opportunity to eBay through its specific potential to import your eBay items on Bonanzle. Listings are complimentary, even though you need to pay a tiny fee as a price fee. The website online is especially purchaser welcoming and offers hundreds of beneficial records for the site site visitors. Lots of human beings consider Bonanzle has the potential to grow to be a reputable eBay replacement inside the instances to come back.

There exists an extra strong eBay opportunity known as uBid that is directly mountain climbing the recognition ladder, following the footsteps of its larger competitor. This is in the main a platform intended for commercial enterprise sellers who want to sell or retail their services and products at attractive charges and present widespread financial savings. One of the essential features on this eBay alternative net-website is the “My Page” where an individual can put together his or her whole document of moves in a common page. Other decent eBay alternative net sites consist of Ioffer, Amazon, Craigslist, Oztion, Allegro and eBid.

Tips For Discovering Ideal Cosplay Costume

Cosplay, brief for dress play, may be a present day precisely where dressing of characters from manga, anime, delusion movies and videogames. Displaying top notch zeal towards Hollywood movies like the Harry Potter, The Matrix series together with the Lord of the Rings, cosplayers styled in cosplay attires are generally regarded at severa public gatherings including leisure parks, nightclubs dedicated to love-minded clothes and a lot of a whole lot mentioned cosplay parties.

Apparently, the costume plays an vital position internal a vibrant cosplay appear. Then a way to locate excellent costumes to complete that awesome appear? Here come a few useful ideas!

Deciding at the man or woman appropriate so that you can cosplay may be the first step to achieve dressed as much as hit the cosplay display, for assured. Figure, facial characteristics, tallness, shortness, personalities are massive issues for a appropriate cosplay fashion for you! Choose up the matching individual with many similarities for you!

After the willpower approximately the function to cosplay, carry out some take a look at as to the exactly you are attempting to find and precisely in which are you capable of locate it! Generally, cosplayers can locate assorted cosplay costumes on many shops on line. But it’s miles going to be by no means the higher to join in cosplay boards and ask for a few tips from your cosplay fellows.

Opt to your cosplay idol! If there are some identified cosplay stars also correctly portraying your chosen individual, get one you love to turn out to be your idol. It will become an easy and extra a hit approach to get close to your bright appear. See how he makes that first rate appear completed and what he is performed to your! The productive reviews are so valuable to a new cosplayer!

Cosplay brings plenty of fun for folks who like it! They get loose in the current day life of brief tempo! They are escaping to revel in the fun with playing the function they preferred! It’s a proper exciting journey! Are you capable of set it off?

Points to remember while buying online

Please just wait and pay attention to this, earlier than you fall for expensive merchandise. Before you start looking for kitchen cabinets there are a few factors which demand your attention. As kitchen cabinets is the handiest but fee powerful form of furniture to buy and reinvent kitchen space for higher utility of substances in home canteen. You can also assume that to cart merchandise on-line or drop in to nearest home decor save. Conditions can also range as consistent with person and so the choices too. Hence the question can also get up why to buy online? Priorities and remarks of clients should be taken into consideration. A feasible alternative to standard purchasing is to shop for kitchen cabinets on line or any products, as web caters to global and its relative factors.

Online buying has its benefits as in general it saves time from comfort of home with high excellent and affordable fee merchandise too. Though as every individual is special so preference is likewise. For some human beings the contact and visibility may be pleasing and to some face touch with cupboard dressmaker need to be fulfilling. So you could ask the retailer to send you a few samples of texture.

Hence in an effort to fix your finger sooner or later to cart alternative, simply maintain again and make photo greater clean in thoughts. Though on line purchasing is not very fresh concept but is still present day in diverse elements of globe yet. As many online kitchen cupboard outlets are running nicely, so it seems the manner is here to live. It’s convenient to buy kitchen cabinets online. Just move on deciding on designs. You can visualize your product online by means of placing elements of kitchen cabinet like colorations, texture, hardware’s in a utensil, and shake nicely with adjustments for favored product.

The very primary would be to evaluate your space dimensions properly. You should purchase shelves as consistent with type and length to healthy well within the required location. If you’ve got time and hobby then you may take measurements to your very own or else ask a few layout shops assist. Very few retailers offer domestic assistance carrier. When you are equipped with your plan then begin adding elements in your kitchen design to carve out proper piece. You will locate on line catalogs for inexpensive kitchen cabinets too with numerous sizes, door patterns, type of material and color finishes too. As there isn’t much special floor in on-line and offline purchasing , though on-line manner caters customers with extra varieties in products and services. Online gives you risk to enhance eternal space with out a designer. You alone can enjoy the procedure of chophouse development and get the credit too from environment.

You will find various styles, hues and services with specific on line cabinet stores. The rate variety will notably adjust as outlets also have extraordinary mindset for high profile customers and common clients. Retail businessmen offer choices from inventory to custom cabinetry for better adjustments. You will obtain product at your door, as on-line manner is simply too easy to reserve if selections are appropriate and retailer has availability, else you may must watch for few days. You have 2 selections in set up either deploy yourself or name servicemen to complete the method.

Why You Need a Conveyancer

The training, execution, verification and lodgement of numerous criminal files are essential factors of conveyancing. This technique can be a tedious challenge for some human beings to address, that is why there may be a regular demand for conveyancers. Adelaide definitely has a huge quantity of conveyancing firms that could honestly assist human beings and make the technique pressure-free. If you’ve got these days offered or offered actual property, or have obtained a real property asset, you must in reality take into account engaging the services of a conveyancer. Adelaide’s conveyancers are exceedingly skilled, certified and skilled, and might offer you with the precise sort of service which you want.

Upon receiving your instructions, your conveyancer may even permit you to meet your legal responsibilities and defend your rights and pastimes. Looking on the identify of the assets is one of the most essential factors of conveyancing. Whether shopping for or selling, you should be aware about something affecting the assets together with proposals by way of authorities departments, unlawful homes, or top notch charges. Your conveyancer is able to behavior an appropriate searches and inquiries in your behalf. You must in reality don’t forget using the services of a conveyancer in order that the job gets performed properly and in a well timed way. Adelaide is the vicinity to go if you are seeking out professional and licenced experts.

The revel in that a conveyancer in Adelaide has were given into a good deal is considered one of a main benefit a customer have. Investing cash in the usage of the conveyancing services will relieve you of any capacity pressure and hassles in the long time. One of the apparent blessings of hiring an professional is that you may now not ought to do the tough paintings yourself. And while you see the quantity of paperwork and tactics that want to be taken care of, you will realize the benefits of hiring a Conveyancer.

Another plus in the usage of a expert conveyancer is that there might be no hitches or required steps missed. So if you are buying or selling real property, have interaction a expert conveyancer to attend to all the prison office work as it will make sure that the transfer of ownership could be treated expertly and with out lacking any small info which can cause inconveniences for you inside the destiny.

Morganton Burke County Free Classifieds & Local Business Directory

Welcome to Morganton4sale, as we are a present day free on line classifieds internet site. We are a city in Morganton,Burke County, North Carolina, which offerings Burke, Caldwell and Catawba counties. We are beginning to upload greater counties as there are wishes for it. This is the nice on line website that I can consider inside the top 10 loose online classifieds on the internet.

We are a neighborhood community classifieds internet site. On our website we have as a class boards,jobs, housing, Real-Estate, for sale, houses, personals, services, local community, and activities, and lots of extra categories to pick from. We were in commercial enterprise considering July 30, 2010 and we are open from Monday thru Friday from 8am-5pm. We try to hold to serve the local community to find the desires of what every body wants to see on the website online. We retain to gain loyalty and consider from our loyal clients. Morganton4sale is a whole lot exclusive than every other classifieds internet site available. It is easier to maneuver via the categories and you don’t even should sign in, however you may use your email best to join so that individuals can email you on the item you’re selling.

There is an easier manner to put up a free classified advert, and the suitable answer is Morganton4sale. Craiglist, returned page, and different sites, need all your facts. What happens when spammers e-mail you, they have got your information and need you to sign into craigslist. They get your facts and your account is hacked. Our web site does not mail out spam or ask you to confirm your account details. Choose Morganton4sale on your on-line classifieds wishes because we are secure, dependable, and very pleasant and personable.

I can say that beginning this business was actually a undertaking for me, as it isn’t as clean as you observed. First off, there is attempting to get your internet-website obtainable within the network. The first way to get your web-web site obtainable in your community is to look up and studies where you could and cannot placed fliers in your community. I’ve discovered that placing fliers at church buildings, grocery shops on their outdoor columns, shoe shops, dollar stores, can really assist you out. You can learn in which to put fliers via looking: wherein to place fliers up legally.

Being as groups are always a challenge I had an idea from a chum of mine to submit my internet site hyperlink on blogs explaining what the commercial enterprise is. Most humans have read my weblog and complimented how exceptional my internet site is. So if you have some thing you really want to get rid of, then join my site, and visit. I’m positive you may enjoy the web site higher than some other classifieds web site accessible on the net. My site even has remarks in order that if there is a class you really need us to feature which will revel in your revel in better, we will find out about from remarks. Our other bonus to being on our website, is that we’ve a stay chat so if you do need assist with the web site or any questions then we are continually there to help you discern out the answer.

Vast Opportunities In Auction Sites

With approximately lots of auction web sites to select from, it’s far any such baffling project to select for the quality one. Auction sites entice net users who’re fascinated to bid for a sure product or to place up a bid for their own product. In case you are making plans to bid or to put up a bid for a sure merchandise, you may move over the listing of unique public sale net web sites.

However, be warned that maximum of the auction sites on line cater to just about any product. While going through the one-of-a-kind auction web sites, you will be making yourself greater acquainted with how the system works. This will be for your benefit anyway. An on-line marketer who formerly worked his way in numerous public sale sites shared his thoughts and discoveries on making clean earnings in auctions.

These guidelines are particularly meant for the numerous on-line marketers who have been lamenting on their futile participation in numerous auction sites. It is a given fact that for a beginner in on line public sale, it isn’t always too smooth to penetrate the net public sale market due to the fact there are too many massive wigs inside the public sale enterprise already.

If you are bidding a product with too many hooked up competitors, can be you need to appearance over your product again. Fast customer items are in particular hard to promote on-line due to the fact there are too many bidders selling them already. Why now not try selling a product this is unique and new.

You may simply seize the eye of extra humans if you bid a product that has specialised or new capabilities. There can be heaps of public sale net websites on the net however there is no guarantee that you may make cash out of it effortlessly. There are many training to learn and mistakes to get over with.

The mystery components of reaping earnings in auction websites is out within the open for any interested on line marketer. It does not count number whether you are an existing online marketer or a web marketer wannabe. The facts is in an effort to eat and practice to gain your online endeavors.

One of the fastest growing businesses on-line is promoting used things thru auction sites. Many human beings had been incomes profits in selling 2nd-hand goods in view that there is a wide capability of clients looking for reasonably-priced but usable second hand matters. Good issue about on line auction is that, you could deliver specific records at the product you are selling and put up it without difficulty.

This manner your ability buyers could have initial facts about the objects you are promoting. Auction websites are somehow doing a excellent prefer to many people by means of allowing them to sell unused things in their houses. Instead of letting these things just rot away in a nook; humans can now make money out of it.

If of all of us who is doing auctions on line, you may additionally get some guidelines from them as to what is the quality public sale internet site as a way to sell your distinctive objects. Just be patient sufficient in selecting the maximum appropriate site where you can sell your matters. Do no longer rush in joining auction web sites with out cautiously considering your alternatives.

The Global Economic Crisis’ Effects on Business

The global recession prompted due to several causes is a ghastly piece of news for each and every business in every country throughout the world. The tendency adopted in this recession by companies in their pursuit to survive during the chaotic time would be to enter into reviewing the headcount, as well as freezing the budget along with numerous cost reducing measures.

Nonetheless, it is possible that the growth of the company will be stunted in case you continue with the practice or overreact to the whole situation. It is seen with recession hitting the economy many of the internationally based business were enforced to reorganize their operations. This was mainly done by ceasing the functioning of the facilities of production. Millions of working people were required to quit their jobs due to the ongoing crisis. The course of action adopted by the company should be to come in the forefront and re-invent the proceeding of your company and at the same time think of procedures for global recovery.

The crisis is faced by the business is of great magnitude. Businesses around the globe were hit so hard by the economic crisis that several businesses had to seek monetary assistance from the government in order to survive. Several industries were in jeopardy and the others were facing the threat of bankruptcy. Practically for many monetary institutions it was like floor has been swept off under their feet. And as a conclusion the power if acquiring things by the public became feeble. The consumers were once again were very conscious about the budget.

Almost all people were forced to make their decisions carefully when it came to buying something as everyone was clueless about when the recovery from recession will take place. The trends in the market place began to fluctuate along with the demand of various products. Almost every business was affected by this global economic crisis but the companies that were hard hit were the companies having large scale operation along with those who provide their services at high prices. The consumers are now turning to the businesses which render similar services at comparatively cheap prices.

Businesses that can survive this economic recession in a better way are basically small as well as medium scale industries. Nonetheless, it does not suggest that they are not hit by economic crisis. The difference primarily lies in the fact that small as well as medium scale enterprises have comparatively undersized operations and have the ability to maintain the operation with fewer revenues. Such business usually has streamline way of operation which minimizes the total effect of the global crisis for survival.

The time span required by the international economy to recover is long as the magnitude of the crisis is large. Nations will have to strive hard to restructure their economy. What is further in store for us is hazy and the lucid picture is still to emerge. However, it is hoped that businesses will retain their normal position once again.

Corporate Governance and Small Businesses

Let’s start with some review of what types of companies primarily drive the US economy.   We know that there are about 16,000 publicly traded companies represented on the NASDAQ, NYSE and the AMEX.  The key economic driver in the US is the 27 million small businesses.  The Small Business Administration 2008 Presidential Report on The Small Business Economy clearly communicated “the economy generated 1.1 million net new jobs in 2007. In the first quarter of 2007, 74 percent of the net new jobs were in small firms with fewer than 500 employees and 22 percent were in firms with fewer than 20 employees.”   Yet, the gross amount of attention in the media and the federal bureaucracy is around what is happening in the Markets.  This is understandable with the volumes of dollars transitioning in this public environment. The economic recovery program is not addressing the core of the economy, small businesses.   More than ever the public market environment is being questioned about corporate governance.  The new legislation being considered for public companies has sections that may very well trickle down and require the small businesses to adhere to similar if not exact rules on Corporate Governance.

A simple definition of Corporate Governance for the small business:  

Corporate governance simply refers to the set of internal policies, rules, and procedures that a company follows on a regular basis to ensure that it operates in a fair, equitable, and appropriate manner for the benefit of the company, its management and its shareholders. A corporation usually has a board of directors and a senior “C” level management team.   Most small businesses do not have these organizational entities clearly defined and functional.  For private companies that are registered as a corporation and have investors, the various states require these entities to have a governing board.  Yet many small businesses incorporate for tax issues and do not necessarily pay attention to the concepts of corporate governance. 

How does Corporate Governance apply to small businesses?  

All businesses should look at their organizational structure and continually assess what will allow the company to perform in an optimal way.  The simplest way to implement this is to have an advisory board.  The advisory board is non-paid individuals that have business or industry specific backgrounds that can contribute ideas or mentor management.  In more formal and traditional cases a small corporation has a board of directors comprised of the founders, a spouse, an employee and maybe – just maybe an outside director.  The focal point of corporate governance within small businesses is that all businesses need to set company strategic goals, provide the leadership to put them into effect, supervise the management of the business, and if the company has stockholders, report to the stockholders on their stewardship.  For those small businesses that do not have the hierarchical structure in place to implement formal corporate governance plans, it is recommended that regular self assessment of the company will be the starting place for accountability, to enhance performance, grow the company and be a greater contributing force in the economy.  At the end of the day, if you follow some set of policies and procedures and are reporting your stewardship of the company to someone even if it is your dog, then you have accountability that is key to corporate governance practices.

Will the government impose its will and definition of Corporate Governance from the public markets into the small business environment?

This imposition of government from the public market companies to privately held companies is making its way through the halls of congress.  One idea being tagged onto present legislation is to extend Sarbanes-Oxley down to privately held companies.  Anyone that knows anything about SOX is aware of the high cost to implement the documentation processes and the reporting.   Pushing this down to the small business environment would be cost prohibitive and stunt economic growth.  The general politics of mandated corporate governance is to wait and see how new legislation will affect the small businesses driving the US economy.

As a final note, every company, no matter what size it is, will see the positive effects of implementing the principles of corporate governance.  The facts remain that there are 27 million plus small businesses in the US who are the job creators and the drivers of the economy.  The greatness of US business is that it performs the best when individuals come together in a free market environment to meet the needs of the economy and society.  In the end, best practices of corporate governance can be freely implemented to benefit the company or corporate governance can be instituted by the government, which can cost more in resources, planning and profit.  Take the time to assess how your small business views corporate governance and how this will enhance your growth in the market place.

What To Do With An Economics Degree

Economics deals with the production and distribution of wealth, goods, and other services. Many students who obtain a degree in economics find jobs as economist, while others pursue similar careers in other relevant fields in business, academia, private sectors, and government. Students who wish to pursue a degree in economics will study topics such as forecasting, macroeconomics, global and emerging markets, economic development, microeconomics, economic reporting and analysis, managerial economics, and calculus.

While at their college or university, students should explore different concentrations that align with their desired career. Those who hold economics degrees can work in businesses such as banks, petroleum companies, universities, credit card companies, medical associations, and many others. Some specific jobs include economist, financial advisor, accountant, financial analyst, stock broker, personal banker, investment advisor, and actuaries. Individuals will most likely be working with finances, so both liking and understanding simple and complex math foundations is a plus.

If individuals are interested in the business sector, they will be finding jobs in transportation, health, labor, industry, and private firms. Employees in these fields typically have advanced statistics, writing, verbal communication, and computer skills. For those who are learning more towards government, the most likely departments in which to be employed include finance, business, labor, agriculture, international trade, transportation, and urban economics. In order to submit an effective resume to these departments, students should try to involve themselves in student government, find an internship in a government agency, and consider graduate school to be eligible for a wider variety of careers.

Many individuals who hold an economics degree go into the economic and market research field. These typically include business firms, consulting firms, consumer goods manufacturing firms, and market research firms. An accompanying business minor is also a great support when finding a job in this field. Students should also try to involve themselves in the campus newspaper, work for a political campaign, and take a business research practicum.

Another available field is in banking and finance. Graduates may work at regional and commercial banks, or Savings & Loan associations doing work such as trusts, operations, systems, and credit lending. In order to be successful in this career, students should have advanced computer and analytical skills, and have some experience as a cashier, teller, or have worked as a financial officer or treasurer.

The majority of people who pursue this degree are interested in becoming economists. These professionals will analyze and conduct research about how resources are distributed and used in order to produce services and goods. Most individuals will have specialized knowledge in a certain concentration in this field, such as industrial economics, organizational economics, and microeconomics.

Legal Protection for Foreign Direct Investments (FDIs) in Nigeria

For healthy and continuous in flow of Foreign Direct Investments (FDIs) to Nigeria, the country has over the years put in place friendly legal framework for Foreign Direct Investments (FDIs) protection.

In this Foreign Investors’ Guidelines for Doing Business in Nigeria Series, we shall be examining the legal mechanisms put in place for the purpose of encouraging an increasing FDIs inflow and ensuring foreign investors’ confidence in the country.

We shall be discussing foreign investors’ protections ranging from certainty of arbitral proceedings and other dispute resolution mechanisms in the country.

The fact with modern economic systems is that no country can be an island economically; Foreign Direct Investment (FDI) protection is very essential to the successful attainment of foreign investors’ business objective(s) and economic development of any economy.

There are steps that host countries can lawfully take in the exercise of their sovereignty and power can lead to depriving foreign investors of reaping the fruits of their investments.

Host government actions that can affect foreign investment adversely includes nationalization; the act of a government taking control of a private enterprise and converting it to state or public ownership.

Expropriation; the act of a government taking possession of or otherwise meddling with privately held assets or property for the use and benefit of the public, or in the public interest.

The legislative and administrative acts of the government as government action can also have adverse effects on foreign investors’ businesses in Nigeria.

This is the indirect or creeping form of expropriation. The only difference is that, it mode of operation shifted attention from the physical and actual taking-over of an investor’s assets to the legislative and administrative acts of the government.

While not depriving a foreign investor of the ownership of an asset in this type of government control, it is capable of significantly reducing the value of properties and investments of the foreign owner.

Foreign investors don’t like investing in country’s with risk such as arbitrary revocation of a license; permit or a concession after the investor has made the requisite investments.

The advancement and expansion of international business relationships and the importance of foreign direct investment to the economic development of Nigeria has made the country to put in place some foreign business protection laws for the purpose of encouraging foreign investors.

Nigeria has performed greatly in providing protections to potential foreign investors.

Investment Treaties

In spite of the provisions of Section 12 of the Nigerian Constitution, investment treaties entered by the country are binding on, and enforceable against Nigeria upon ratification under the principle of ‘pacta sunt servanda’.

Also, by a literal application of Article 31 of the Vienna Convention on the Law of Treaties which provides that a treaty shall be interpreted in good faith in agreement with the ordinary meaning to be given to the terms of the treaty.

Bilateral Investment Treaties (BITs): Nigeria entered into its first Bilateral Investment Treaty (BIT) with Germany in 1979 which came into force in 1986.

According to finding from my investigation Nigeria has entered into 28 Bilateral Investment Treaties (BITs) between 1986 and November, 2015.

Of the total number, 13 are currently in force, 14 are signed and 1 repealed. The Bilateral Investment Treaties (BITs) currently in force are the ones entered into with Finland, France, Germany, Italy, Netherlands, Romania, Serbia, Spain, South Korea, Sweden, Switzerland, Taiwan, and United Kingdom.

The 14 BITs which have been signed by Nigeria but are yet to enter into operation were signed as far as back as 1996.

In addition to the usual investment protection standards, these BITs provide that a contracting state shall not damage by irrational or unfair means the maintenance, management, disposal of investment in its territory of nationals or companies of the other Contracting Party.

And the same recompense for losses suffered due to a safety event made to a domestic investor shall be allowed to the investor from the other contracting state.

These BITs also provide for the right of subrogation allowing foreign investors to obtain suitable investment insurance and for these investment insurance providers to seek remedy on their behalf from Nigeria.

The BITs that are presently in force have also made satisfactory requirements for the standard investment protection. These include fair and equitable treatment, umbrella clauses, most favoured nation status, national treatment, obligations against arbitrary and discriminatory measures and security.

Multi-lateral Investment Treaties (MITs): Economic Community of West African States (ECOWAS) treaty is one of the famous MITs Nigeria have entered. The ECOWAS treaty was signed on 28th May 1975; it came in into force on the 20th June, 1975.

The treaty currently has 15 signatories who are member states of ECOWAS.

Article 2 of the Treaty gives ‘Community Enterprise’ status to businesses whose equity capital is owned by two or more member states, and citizens or institutions of the Community.

Article 16 of the Treaty provides that Community Enterprise shall be accorded favourable treatment with regards to incentives and advantages, and shall not be nationalised or expropriated by the government of any member state except for valid reasons of public interest, and subject to the payment of prompt and adequate compensation.

Organization of Islamic Conference (OIC) investment treaty is another MIT Nigeria has entered into in relation with providing favourable conditions for foreign investments in the country.

OIC is a treaty with an Agreement on Promotion, Protection and Guarantee of Investments among Member States of the Organization of the Islamic Conference, which came into force in September, 1986.

Chapter 2 of the Treaty mandates all member states of the Organization of Islamic Countries to provide adequate security and protection to the invested capital of an investor who is a national of another contracting member state.

The terms of protection specifically include the enjoyment of equal treatment, undertaking not to adopt measures that may directly or indirectly affect the ownership of the investor’s capital or investment and not to expropriate any investment except it is in the public interest and on prompt payment of adequate compensation.

Host states are further obligated to guarantee free repatriation of any capital and returns due to an investor.

Conventions to which Nigeria is a Signatory:

The country is signatory to a number of Conventions which have been entered into for the purposes of protecting foreign direct investment.

The most significant convention in this regard is the Convention for the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention).

International Centre for the Settlement of Investment Disputes (ICSID) as an arbitral institution under the World Bank Group is a fully integrated, self-contained arbitration institution that provides standard arbitration clauses, arbitration proceedings rules, arrangements for venues, financial arrangements and administrative supporting including the appointment of arbitrators to parties.

Convention for the Settlement of Investment Disputes between States and Nationals of Other States (ICSID) primarily provides for the settlement of investment disputes between investors and sovereign host states.

It has also taken the necessary legislative measures to make the Convention’s resolution effective in Nigeria by enacting it as a domestic legislature in the International Centre for Settlement of Investment Disputes (Enforcement of Awards) Decree No. 49 of 1967.

Another significant investment protection convention Nigeria has entered into is the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.

New York Convention was adopted by the United Nations in June, 1958 and it mandates domestic courts in signatory countries to give effect to arbitration agreements, and to also recognise and enforce valid arbitral awards given in other signatory states.

The New York Convention in other words is particularly significant for the enforcement of arbitral awards resulting from non-ICSID investment arbitration proceedings.

In an attempt to bring into conscious awareness the legal guidelines to undertaking business in Nigeria to intended foreign investors, we shall specifically be reviewing domestic legislations and investment treaties which collectively make up the legal framework for foreign investment protection in the country.

The Domestic Legal Framework:

The notable investment legislation in Nigeria is the Nigerian Investment Promotion Commission Act, CAP N117 Laws of the Federation of Nigeria (“NIPC Act”).

The NIPC Act provides the fundamental and suitable legal framework for the protection of foreign investors in the country. Part 5 of the NIPC Act provides that foreigners may invest and participate in any enterprise in Nigeria.

They are assured unrestricted transfer of funds attributable to the investment such as profits, dividends, payments in respect of loan servicing, and the remittance of proceeds obtained from the sale or liquidation of assets or any interest in the venture through an approved dealer in freely convertible currency.

Section 25 of the NIPC Act clearly provides that no enterprise shall be expropriated or nationalised without prompt payment of compensation; the same section also provides a protection clause to an investor to claim “creeping” expropriation by establishing that the acts complained of indirectly results to expropriation or have expropriatory tendency.

Lastly, the NIPC Act provides that disputes between a foreign investor and any government in Nigeria arising from an investment shall be submitted to arbitration within the framework of any investment treaty entered into between the government of Nigeria and any state of which the foreign investor is a national.

It further provides that where there is a disagreement between the Nigerian government and the foreign investor on the mode of dispute settlement, the dispute shall be submitted to ICSID for arbitration.

Foreign investor is thus at liberty in Nigeria to institute arbitration proceedings against a government even after bringing a claim or counterclaim against the government in a court or domestic arbitration.

Another domestic legislation that provides protection to foreign investors is the Foreign Exchange (Monitoring and Miscellaneous Provisions Act) CAP F34.

Section 15 of this Act provides that any person may invest in any business venture with foreign currency or capital imported into Nigeria through an authorized dealer who will issue a Certificate of Capital Importation to the foreign investor.

Sub-section (4) of the same section in addition guarantees unconditional transferability of funds in freely convertible currency of any such monies arising from an investment made in Nigeria with foreign currency, including dividends and profits, payments in respect of loan servicing, and remittances of the proceeds of sale or liquidation of assets.

A similar provision on repatriation is also found in Section 18 of the Nigeria Export Processing Zones Act, CAPN107 (“NEPZA Act”).

Section 18 of the NEPZA Act provides that foreign investors who invest in outlined businesses within an export zone shall be eligible to remit profits and dividends earned in the zone and repatriate foreign capital investment at any time with capital appreciation of the investments.

Other foreign investors’ protection laws are the Arbitration and Conciliation Act. The act gives foreign investors the opportunity to determine the mode of settling disputes that may arise out of their investments without resort to litigation in domestic (Nigeria) courts.

With the anticipation that such settlement will unfailingly and efficiently protect and enforce the rights of foreign investors and their investments provides a framework for domestic arbitration it also makes provisions for international commercial arbitration which is more preferable by foreign investors.

Section 56(2) (d) defines ‘international arbitration’ to include any arbitration that the parties have expressly agreed in the arbitration agreement to treat as international arbitration. The Act provides that every arbitration award is capable of enforcement under the New York Convention.

Nigeria’s entries into these investment treaties and its enactment of the Conventions into domestic legislation have made the protection mechanism part of Nigeria’s legal framework for protection of Foreign Direct Investments (FDIs) friendly and convenient to actual and potential foreign investors.