Trends – Commercial Contracts
Insights for clients operating in today’s volatile business environment.
In this update, Members of Alliott Global Alliance’s (AGA’s) International Business Law Global Practice group look at how companies can protect their commercial transactions in the new economic landscape.
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.
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.
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.