It is absolutely vital to have written agreements in place to both exploit the benefit of your commercial arrangements and to protect your business if a dispute arises.
This page is designed to provide some useful advice on:
Written commercial agreements are not just important, they are absolutely crucial!
The main purpose of written agreements is to provide a clear framework to govern a particular commercial transaction or relationship - whether that is with your customers and suppliers, co-partners, co-shareholders or your funders.
A written agreement can also be used to allocate any risks from the trading relationship of the parties to a particular contract. A party to whom a specific risk is allocated by the contract may seek protection against it by insurance.
A well-drafted contract will seek to minimise the risks falling on you and direct as many of them as possible on to the other party to the contract. That said, a well-drafted contract will not be excessively one-sided to avoid being commercially damaging to your trading relationships and reputation.
Vague or uncertain agreements may not be a contract at all. Even if it is a legally binding contract, any uncertainty may lead to disputes and potentially costly litigation.
Uncertainty within a contract commonly arises for two reasons:
Firstly, disputes may arise if the law on a particular subject is unclear. A well-drafted contract will seek to avoid this legal uncertainty by including express provisions to minimise the scope of application of uncertain legal rules.
Secondly, disputes may arise if the language of the contract is unclear. The contract should be drafted in clear terms to avoid disputes, especially because a contract term which is unclear may be construed against the party relying on it.
As you might expect, there are a huge range of commercial agreement types, but some of the more common ones our legal specialists advise on include:
Limited Liability Partnerships
Partnership agreements and dissolutions
Banking and Security
Banking and finance documents, guarantees and other security documentation.
Our commercial law specialists are leaders in their field, and can advise on all aspects of company and partnership law, including domestic and international supply of goods and services.
As a firm, Lanyon Bowdler prides itself on being able to provide speedy, practical and accurate advice, while ensuring it is commercially realistic for your business. We have:
The Legal 500 has for many years recommended Lanyon Bowdler for corporate and commercial services in the West Midlands.
The 2020 edition says: "Telford-based Lanyon Bowdler offers 'strength in knowledge and experience' for clients in the West Midlands and further afield."
Give us a call or complete our online enquiry form, to see how our Business Lawyers can help. We have offices in Shrewsbury, Bromyard, Conwy, Hereford, Ludlow, Oswestry and Telford, so are able to act for clients all over Shropshire, Herefordshire, Mid and North Wales and across the Midlands.
A wide range of pricing options are available which may include fixed fees and service level guarantees.
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