Drafting and review of contracts
Any agreement between the parties shall be properly documented. In order to be sure in legal transparency of the agreement, it is important to correctly draft and verify the relevant contract.
Conclusion of contracts
Company drafts written contracts not only with suppliers and contractors, but also with landlords, employees and other parties.
Drafting of contract by the lawyer is a service that makes you sure that:
- contract complies with legislation;
- takes into account all the nuances of a specific agreement;
- rights and obligations of the parties are fully displayed;
- all material terms and provisions of the agreement are provided;
- in case of a dispute or litigation, terms and provisions of the contract protect your interests.
Assistance in drafting of documentation can be arranged for both template/model and one-time contracts.
Contract templates apply in the following cases:
- similar agreements with the only difference in contractor’s name;
- employment contracts where a package of documents is required, consisting of several contract options for various categories of employees.
In some situations, it is important to draft individual contracts:
- non-standard or unusual transactions;
- rent or purchase of premises — legal aspects of ownership for specific premises should be considered and client’s risks protected.
Stages in contract administration
To avoid negative consequences after signing of the agreement, it is important to fully comply with the procedure for contract preparation and monitor its implementation, taking into account the specific aspects.
Depending on the purpose of contract, our lawyers will identify mandatory articles and provisions of the agreement.
When preparing contract text, the following details need to be indicated:
- contract title (lease, employment, supply, etc.);
- names of the parties;
- subject of the agreement;
- contract price;
- payment terms and procedure;
- rights, duties and obligations of the parties;
- contract validity period;
- termination procedure;
- amendment and alteration procedure;
- details and contacts of the parties.
Before affixing agreement with signatures and seals, it is important to verify the authority/ credentials and identity of the other party representative. After successful validation, the counterpart should familiarize itself with the terms and conditions of the document.
If the counterpart has no objection to the contract text, the original paper copy is signed having indicated date and number of the document.
If a need arises to modify the contract content, it should be made only after approval by the client and legal opinion on eligibility and consequences of such modification.
Monitoring of contract implementation
If the contract provisions are not respected (for example, goods were not shipped on time or the lessor did not vacate the premises), the counterpart may be held liable and subject to liquidated damages for non-performance, based on the respective contract provisions.
We, the Financial Chain Corporation, will help not only to draft contract in a legally correct manner, but also to held counterpart liable in case of his non-performance under the signed contract. At the same time, a set of contract templates tailored by us for the specific company allows safe contracts conclusion in future.
Verification of contracts
If the contract is concluded in the format prepared by the counterpart, it is important to ensure the safety of future deal before its signature.
The process of legal review includes:
- due-diligence of the counterpart;
- check of proposed draft contract compliance with legislative requirements;
- analysis of court ruling and precedents for this type of contracts;
- check whether the contract meets requirements and objectives of the client;
- identity check of the contract signatories, and their powers/authorization;
- report containing recommendations for amendment or alteration of the contract;
- draft text of the contract amendment regulating controversial issues
Why legal review is required?
Signature of the contract proposed by counterpart without the preliminary review may result in the following negative consequences for the company:
- if contract does not comply with the law, it may be hold invalid, and hence the client may incur monetary or material losses;
- contract may contain unfavorable for you provisions, which are problematic to challenge after its signature;
- parties responsibility is specified incorrectly or incompletely and therefore counterpart may evade penalty for contract violation.
In addition to the points mentioned above, it can be found that the potential counterpart is not reliable. Due-diligence of the partner and his draft contract before signing is a guarantee that your deal is reliable and legally sound.
Why contact Financial Chain Corporation
Choosing a company to provide services for drafting and/or verification of the contract, it is important to pay attention to a few points which guarantee quality services.
Firstly, without years of practice with various documents there is no guarantee that a lawyer will be able to see the hidden disadvantages to the client. Our specialists are not only experienced in working with a variety of instruments, but also in court ruling and precedents on protection of interests in case of violation of terms and provisions of the contract.
Secondly, our company guarantees individually tailored approach. Before start working on a task, our legal expert will examine the company activities and specific aspects of its core business. It allows to explore every contract in-depth, with due consideration of the smallest details.
Thirdly, we are always ready to adapt to the client requirements. Providing both one-time and permanent services, we can ensure that all contracts signed with our participation are legally sound, and moreover – serve the interests of our client.
By contacting us, you get high quality services, and also confidence in dealing with suppliers, employees and other counterparts. To make all your contracts reliable and safe tomorrow, get in contact with our experts today!