Guidance On Virtual Signing And Closing

In the current economic climate, where many logistics and transport professionals are seeking to reduce business travel that can be expensive and time consuming, in order to focus on operating more efficiently and effectively, we look at the latest guidance for lawyers from the Law Society¹ on the best practice for executing logistics contracts and commercial agreements at a "virtual signing or closing".

There are often logistical problems in getting logistics contracts and commercial agreements signed, whether physically assembling everyone together or issues such as time constraints, security or the complexity of signing arrangements which preclude the use of post or courier. Therefore it has become reasonably common practice for signature pages to be drawn up and executed in advance and transferred to the final form of the contract once it is ready for completion.