What is the difference between Thai contracts and Western culture?
The contracts in Thailand differ significantly from those commonly used in Western societies. While Western culture emphasizes having comprehensive written agreements, Thai culture focuses more on the relationship between the parties involved.
Western contracts are typically detailed and lengthy documents, with provisions aimed at ensuring fairness and balance between the parties involved. In contrast, Thai contracts tend to be shorter, often only 2-3 pages in length, outlining the main principles of the agreement.
However, these contracts are often unfairly biased against the buyer. Despite this, as Thailand gains more experience working with foreign investors, there is a growing trend towards using more comprehensive, balanced contract agreements. Developers who have foreign management are particularly likely to adopt this approach.