Trends - Commercial Contracts
27 October 2022
In this update, for clients operating in today's volatile business environment, lawyers from Alliott Global Alliance’s (AGA’s) International Business Law Practice Group explain how companies can protect their commercial transactions in the new economic landscape.
In the third edition of AGA's 'Trends' thought leadership pieces, our international business lawyers provide clients with insights into Commercial Contracts.
PRICE NEGOTIATIONS:
With the surging cost of raw materials and parts, whether you are a supplier or customer, make sure to include a contractual clause that addresses price fluctuation in your contracts. A handshake agreement is not enough when negotiating a commercial contract. Legal professionals can help you understand the law to protect your business against changing circumstances in your jurisdiction, helping to reduce the risk of commercial litigation.
CONTRACT OBLIGATIONS:
As economic and geo-political events impact trusted trading relationships, there has been an increased focus on parties’ contractual rights and obligations, and it is crucial that business owners are aware of the key clauses that affect their core business contracts and ensure that these meet the current and future needs of their business.
SECURITY:
With disruptions taking place to supply chains around the world, it is more important than ever to include a force majeure clause in your commercial contracts that provides proper protection, and to review your existing contracts to see what risks they present. Lawyers can help you to implement force majeure provisions that work in your jurisdiction and meet your business needs.
Together as One:
AGA provides a cost-efficient legal service model whereby large and small companies can access support in protecting and growing their businesses in over 300 business centers in 95 countries worldwide. You can count on team members who adhere to common service standards that emphasise responsiveness, clear communication, transparency, and technical excellence. For assistance with all business law matters in any country, contact businesslaw@alliottglobal.com
Further Reading:
About Alliott Global Alliance
Alliott Global Alliance is an international alliance of 215 independent law, accounting and specialist firms in over 95 countries around the world and our members are experts in the law, customs, and tax systems of almost any country where you are looking to do business.
Our international business law experts can provide the services you require to help you with your critical and strategic business challenges including:
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