Contract risks: getting it right

Contractual obligations


The most important features of any contract are clarity and certainty. The contract should clearly set out the rights and obligations of each party and have adequate provisions in place for dealing with unlikely events.
There are a number of risks to consider when drafting and negotiating commercial contracts. The single biggest difficulty is lack of certainty, which can result in legal disputes and commercial paralysis. A common cause is the use of standard contracts. These can be problematic

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