Commercial contracts are the backbone of business operations, setting out the terms and conditions that govern transactions and relationships between parties. They can play an important role in supporting a smooth and successful business. For example, contracts may provide:

  • Clarity of rights & obligations
  • Risk Management
  • Legal Compliance
  • Business Relationships
  • Dispute Resolution

Get in touch with us for your contracting needs – whether it is for a contract that needs drafting, you have a contract that is to be reviewed or you just want to better understand your contracting needs. During our initial consultation, we will discuss your requirements and .

Just some of the types of commercial contract types that our lawyers have worked on…

  • Commercial and retail leases
  • Non-disclosure agreements
  • Deeds of release
  • Distribution agreements
  • Heads of agreement,
  • Management agreements
  • Memorandum of Understanding
  • Letters of intent
  • Procurement/purchase agreements – Goods, Services, Software and Equipment agreements
  • Business, share and asset sale agreements
  • Partnership and shareholder agreements
  • Tender documents
  • Trading terms
  • Distribution agreements
  • Intellectual property licensing
  • Shareholders agreements
  • Structure documentation
  • Supply agreements
  • Tender documentation

Already have a Contract? Here are some key considerations for carrying out its review.

1. Understand the Scope and Purpose of the Review: When reviewing a commercial contract, it is essential to comprehend the nature of the transaction and the quality of the document. The complexity of the review will vary depending on these factors, which, in turn, affects the cost and timeframe for a lawyer’s services. Clearly define your expectations and the outcome you seek from the review. For instance, if you’re a small business receiving a contract from a large organization, you might not have much leverage to negotiate terms. In such cases, the primary goal of the legal review is to understand your rights and obligations, helping you avoid unfavorable terms.

2. Methods of Contract Review: You may consider the contract’s nature, value and complexity in deciding the type of review that you require. For example, if you have a simple, low value contract, you may decide that you are comfortable having a chat with one of our lawyers to discuss the agreement. Alternatively, is only required so

Lawyers typically review contracts in one of two ways: a verbal consultation or a written advice. A verbal consultation involves the lawyer going through the document and discussing it with you, which is usually quicker and less expensive. Written advice, on the other hand, is more thorough and detailed, providing a documented analysis of the contract’s terms. This method takes longer and is more costly but offers a comprehensive understanding of potential risks and obligations. Deciding which method suits your needs depends on the contract’s value and complexity.

3. Focusing on Key Clauses: A pragmatic approach to contract review involves concentrating on the critical terms rather than the boilerplate clauses (standard provisions common in most contracts). Focus on the operative clauses that outline the rights and obligations of the parties involved. These key clauses determine the practical implications of the agreement. Collaborating with a lawyer experienced in the specific type of contract ensures that they can efficiently identify significant issues and provide relevant advice, ultimately protecting your interests and ensuring a well-informed decision.

By following these three key points, you can effectively navigate the complexities of reviewing commercial contracts, ensuring that you are well-informed and protected in your business dealings.

Make an enquiry

Please enable JavaScript in your browser to complete this form.
Name
By submitting this form, you agree to Fresco Law’s privacy policy and terms of use. You also agree to receive emails from Fresco Law and can unsubscribe at any time.

Make an enquiry

Please enable JavaScript in your browser to complete this form.
By submitting this form, you agree to Fresco Law’s privacy policy and terms of use. You also agree to receive emails from Fresco Law and can unsubscribe at any time.