Commercial Contracts are at the centre of any business, whether you are a sole trader, business partnership or limited company.
They provide the framework within which you can operate successfully and achieve your aims. A comprehensive and robust contract will protect your interests, minimise your risks, increase your profitability and avoid the need for expensive litigation. It can be the difference between success and failure.
We understand that comprehensive and robust commercial contracts are vital to the success of your business. We can advise you on all forms of commercial contracts regardless of their size and complexity.
Whatever your commercial activity, we can advise you on the related commercial contracts and how to avoid the dangers that may hinder your business.
Whether you require commercial contracts being prepared for the first time or whether you have decided to review your current commercial contracts, we can provide practical and thorough advice that is tailored to your needs and the needs of your business.
We aim to get to know both you and your business and the areas in which you trade so that we can understand and assist in achieving your commercial objectives.
We have experience of advising businesses and companies on the following:
Terms and Conditions of Sale and Purchase
Supply of Goods Agreements
Supply of Services Agreements
Practical tips for negotiating Commercial Contracts
We advise that you include in the contract everything that has been agreed orally.
If this is your first business agreement with the other party, we advise that you investigate their financial position and whether they are a legitimate and genuine company.
We advise the contract makes it clear what each party to the contract is agreeing to.
We advise that you consider the impact a change of ownership would have on the contract and whether you are content with this.
We advise that you ensure that the goods/services on offer and their price are described clearly and accurately and how payments will be made.
There is a statutory right to claim interest on late payment but you may want to make specific provision for this in the contract.
We advise that if you are selling goods, you may want the contract to allow you to retain ownership of the goods until payment has been made.
We advise that provisions are included in the contract should the contract fall through, or should the other party breach the contract. If such provisions are included, it will make it easier to resolve issues that arise should something go wrong.
We advise that you ensure that provisions are included for you to pull out of the contract should you so wish.
We advise that the contract includes specific timescales so each party is aware of any deadlines. Is the contract for a fixed term or is notice required by either party. Is time of the essence important and is the time of delivery vital.
We advise that you are fully aware of the terms and conditions of business being applied. If the other party's terms of business are being applied you will need to ensure that extra provisions are included in the contract to create equality between the parties.
We advise that any protection offered by the contract is only as good as the other party to the contract. You need to be content that the other party will remedy the situation if something goes wrong. If you are not content then you may want to include further guarantees from third parties.
We advise that you bear in mind that any damages or losses being claimed, if the other party breaches the contract, must bear some relation to the actual loss you expect or they will be unenforceable
We advise extra care be taken when drafting contracts that include business to consumer sales as the law provides extra protection for consumers. Each term included in the contract must be fair.