LEGAL DRAFTING

It’s important for businesses to have written document and contracts. Every business in day-to-day functioning interacts and deals with many persons and entity. The businesses cannot depend on oral promises which might have negative impact on the company future. Therefore, it is important for the business to enter into proper agreement and contracts

Businesses don’t run on trust. So trusting your partner over a shaking hand or over a verbal agreement can lead to disastrous results in future. However, old you relations might be, it is always worth taking an effort to draft a legal contract- so you are protected in case things go wrong.

If any dispute arises between the parties in future. They can easily settle the dispute by revisiting the terms of the agreement quickly without fighting on the dispute. Also, if some terms are not clear, courts and tribunals can decide on the terms of the contract and decide on the issue to resolve the dispute.

Prevent Conflicts The parties who had entered contract before commencement of the work save time later when a dispute arises between the parties. Also, when the parties are clear about the terms of the agreement the chances of dispute get minimised. Nowadays, parties can resolve their dispute through various other means of alternate dispute resolution like mediation, arbitration etc. Various private entities have also come up which provide online services for dispute resolution to the parties.

Transparency to all parties – When each party are aware about the terms of the contract and both the parties had arrived at it after much discussion and negotiation then there is complete transparency between the parties. It help businesses to build long term relation with their stakeholder like employees, suppliers, vendors and customers etc.