Contracts with Indian parties are governed by the Indian Contract Act 1872 unless another law is chosen. Turkmen currency controls make payment timing and routes a frequent source of disputes, so they should be set out in detail. A Turkmen judgment cannot be executed directly in India, so a well-drafted arbitration clause seated in a New York Convention country is the safest option.
- Document route
- Turkmen notary, Ministry of Foreign Affairs legalisation, then Indian Embassy attestation
- Time difference
- IST is 30 minutes ahead of Turkmenistan all year
- Core law
- Indian Contract Act 1872
- Foreign awards
- Part II, Arbitration Act 1996
Commercial Contracts from Turkmenistan: how it works
We draft and review supply, distribution, construction and services agreements, focusing on payment routes and timing, currency, registration of medicines, quality, delays, liability and dispute resolution.
We advise on withholding tax on payments and how the treaty reduces it, and on stamping the contract in India.
For construction projects, we advise on bank guarantees, retention and variations.
For gas and petrochemical projects, we review subcontracts with Indian engineering firms for scope, performance guarantees, delay damages and the allocation of currency and permit risks in Turkmenistan.
What clients in Turkmenistan should know
- Set out payment routes and timelines in detail.
- Seat arbitration in a Convention country.
- Use treaty rates with a tax residence certificate.
Step by step from Turkmenistan
Video consultation
A call at a time that suits Turkmenistan, after we have read your documents.
Documents signed in Turkmenistan
Turkmen notary, Ministry of Foreign Affairs legalisation, then Indian Embassy attestation
Work in India
Our team files, appears and follows up in India, and shares scans of everything filed.
Result and handover
Certified copies and originals are couriered to you in Turkmenistan where needed.
The full guide
This page covers what changes when you are in Turkmenistan. For the law, the documents and the step-by-step procedure, read our main page on Commercial Contracts, or see all services for clients in Turkmenistan and the Doing Business in India practice area.
Questions from clients in Turkmenistan
Why are payment terms so important?
Currency controls in Turkmenistan can delay transfers.
Where should arbitration be seated?
In a New York Convention country acceptable to both sides.
Does the treaty reduce withholding tax?
Often yes.
Who should bear the risk of Turkmen permits?
Usually the party best able to obtain them; the contract should say so.