The 'Friendly' Handshake: Colombia's Most Expensive Contract

Colombia operates on relationships. 'Respeto' is currency. But the biggest mistake Westerners make when doing business here is confusing a friendly local connection with a legally binding agreement.

Whether you are hiring local contractors to renovate a penthouse, signing a commercial lease, or entering a joint venture, a verbal agreement or a basic contract downloaded from Google will not protect you. In Colombia, a contract is only as good as your ability to enforce it in a local court.

The hidden greedy party in your deal is banking on the fact that you don't know the local labor laws (which heavily favor the employee) or local tenancy rights. Never pay 100% upfront. Never hire without a localized contract. Never assume 'mañana' means tomorrow.