Commercial Contracts

There are multiple important aspects to a contract. A contract usually should clearly set out your duties, options for termination, and dispute resolution procedure.

You can find the key differences between an informal agreement, a simple written contract (based on a template) and a tailored contract below.

 

 

 Informal agreementSimple Written ContractTailored contract
Sets out your duties clearlyNot really.Yes, but important small aspects may be missing, which may turn out to be a problem laterListing your responsibilities exactly in a legally recognisable manner ensures both you and the company you will work with have clear responsibilities towards one another
Options for terminationWhen a simple agreement is made, it is rarely considered that things could go wrong. You leave yourself open to problems without a section on termination of contractsRarely considered in simple contracts, such as the templates that you may find onlineIn the legal arena, being exact and accurate is everything. With Sterling Law’s help, your company will have clear and legal recourse if something is being done incorrectly or to a poor standard, or your company is being exploited
Dispute resolutionVery rarely includedTypically limited in what it covers and leaves you open to legal action in situations where problems can be resolved more easilyVery important to have – it protects you and your partners from arbitrary legal action, and gives a simple path to resolve 99% of problems with a contract that is clear and easily applicable. Courts in the UK expect you to follow your dispute resolution steps first instead of legal action, which further protects you from legal action and costs. You can even come up with different methods of resolution for different aspects of work.

 

 

 

We can help with both reviewing and amending an existing agreement and drafting a new one. To get a quote, simply click here.

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Why Sterling Law

Our team of dedicated lawyers has vast experience of working with start-ups, small and medium-sized companies.

We will ensure your business operation are fully compliant, saving you time and money so that you can concentrate on your company growth, and we’ll take care of the rest. Let us know how we can help you by choosing one of the services below. Not sure what you need? Not to worry, ask your questions by filling in the form below, and we’ll get back to you with the answers.

Services
Commercial Law Commercial Law

Sterling Law represent businesses and individuals in commercial matters including disputes and drafting agreements relating to:

  • Commercial Contracts
  • Incorporation of Businesses
  • Agency or Franchising
  • Directors’ Duties and Disqualification
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Company Law or Insolvency Company Law or Insolvency

What are the dangers of insolvency?

  • Your company may still owe money to creditors. You still have to pay this back, even if your company is insolvent
  • You, as a director, can be sued if you continued to trade after the company went insolvent, and lose your personal assets
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Partnerships Contracts Partnerships Contracts

Starting a business with another person can be a great thing. A correct partnership can give your business another member who is smart, dedicated, and able to contribute great ideas to help you grow your firm. One of the most important things to do in your business, though, especially when working with another person, is to make sure to register your enterprise correctly, to find what is most beneficial for you, your partner, and your firm. Sterling Law has years of experience in all forms of corporate law, and we can specifically help you with registering a partnership, and working out if a partnership is right for you.

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