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Every day, business owners enter into commercial contracts, and these contracts need attorney assistance. Hiring Uncommon Counsel to assist with commercial contracts can mean the difference between a thorough, clear contract and one that could eventually lead to litigation.

Complex Contracts Require Legal Counsel

The worst thing business owners can do is walk into a potential commercial contract deal without a clear and full understanding of what they are getting themselves into.

A trusted legal team is crucial to this being avoided, as they can review the contract with you line by line and ensure you understand the written terms and agreements. They can make sure any sections or even single lines that don’t meet your expectations for the deal are struck from the contract.

Unfortunately, many commercial contracts face legal issues if they aren’t reviewed and drafted carefully. Here are some common issues business owners face:

Pricing

One of the most common issues in commercial contracts deals with pricing. For example, an unclear procurement contract could later lead to problems such as unmanaged or mismanaged procurement spend.

Terms and Conditions

Poorly written terms and conditions in a contract can lead to numerous problems, such as confusing payments, vague schedules, and issues with competing contracts.

Performance Metrics

You don’t want to leave your or another party’s satisfaction up to chance. Describing performance metrics in commercial contracts helps to clear up things such as price discrepancies, failed inspections, and delivery times.

Regulations Compliance

Your commercial contract should ensure that your business and the other party’s business is within regulatory standards. Issues regarding intellectual property, cybersecurity, and buyer standards should all be included.

Supplier Service Obligations

Lastly, supplier service obligations need to be clearly stated in commercial contracts. Things like loss of material goods, confidentiality, and access rights are all aspects that should be made clear.

Commercial contracts are not a place any business should be taking risks. Ensure that you’re happy with your legal contract by reviewing the document with professional legal counsel. With that in mind, consider hiring a professional from Uncommon Counsel.