The Vital Importance Of Protective Clauses In Your Contract

The global economic climate, following the pandemic and the Eastern European conflict, makes it tougher for most companies to gain new business. Companies face more competition and often longer lead times building up sufficient trust and confidence in a new client before a decision is made to collaborate, it is no surprise that often there is a keen imperative to get the contract signed without delay, once the deal has been agreed in principle, and all parties eager to get underway.

However, it is extremely important that enthusiasm does not replace caution and contractual clauses that are aimed at protecting the business in the event of a dispute are included.

Olu Ajasa, a partner, commented "the commercial contract for each new or existing client is the armour that protects your business. Regardless of how similar each clients' requirements are to each other it is imperative that companies recognise the importance of tailoring the contract to each transaction.