We are very experienced in assisting clients to negotiate the best possible terms before they sign contracts with other parties. The contracts that we advise on are wide ranging, from terms and conditions of trade, supply contracts, distribution agreements, software licence agreements, sale of business, sale of shares, joint ventures, contractor agreements, employment contracts, hire agreements, leases, franchise agreements.
However we also observe many clients are more concerned about legal fees and often times, they do not seek appropriate legal advice (and many signed the contracts without even reading them).
Unfortunately, as you would expect, many of these clients found to their dismay they were contractually bound by unfavourable terms and conditions, leaving them with little or no bargaining power to negotiate a way forward. The clients often had to incur far more legal costs to re-negotiate a way forward with the other party. In many cases, if negotiations fail, the clients had no choice but to take certain commercial decisions which are not in accordance with their contracts. They land themselves in very risky legal position and are likely to be in a financially worse off position.
We encourage clients to heed Benjamin Franklin’s wise saying “An ounce of prevention is better than a pound of cure”.
Proactively seeking legal advice is probably your best investment. You will reap the long term benefits of your dealings and relationships with your customers and suppliers.
Let us assist you with the following:
- Review and advice on the contract
- Recommendations as to suitable amendments to the contracts
- Negotiations with the other parties
- Drafting and review of revised contracts
- Review of final contracts before the parties sign them