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Contracts : Be proactive not reactive
22 June 2011
Many businesses enter into contracts with their suppliers, customers and other third parties on a daily basis without seeking advice on what the terms of the contract mean for the business. This is not unusual but how wise is it?
All too often we see businesses and business owners (frequently on an urgent basis) because a problem has arisen on a contract and they need advice on where they stand and whether they have a good chance of succeeding on the terms. The business is reacting to a situation that in many cases can be costly to put right, particularly if the contract does not say what you want it to say or is simply ambiguous.
From our experience it is far better and cost effective to be proactive and seek advice on your position before you enter into any contract, so that you know where your business stands should things go wrong and whether there is anything that can be done to the terms to avoid such eventuality.
If you wish to have a contract drafted, or have a contract that you would like reviewed before you enter into it, speak to a member of our Business Services team. Alternatively, if it is too late and you already have a problem, contact our Litigation Team. They will ascertain whether they can help you with the current situation, and also advise on how to avoid such a situation occurring again, working with the Business Services Team if necessary.
Nick Ball, solicitor and Andrew Petchey, Partner
