Period/term. Fixed, rolling with notice, or a combination. Are you happy if the other party puts in an option to extend for a further period without your say so? Or that they could terminate early?
A supplier should have a limitation of liability clause, to minimise the categories (e.g. loss of profits, loss of business, loss [...]
Paying cash for an asset can be a significant drain on your working capital. Leasing the asset, however, gives you access to the asset without paying for it all at once.
All forms of leasing are basically rental agreements giving you (the lessee) the right to use an asset owned by the lessor (finance company) for [...]
Be sure to have actually READ your contract before signing. Keep in mind that once you have signed, you are entering into a legally binding contractual relationship with the other party. There isn’t usally a cooling off period – particularly if you are a business rather than a consumer.
Here are a few things to watch for – [...]
A service level agreement is ideal if you engage a company or individual to provide a service for your company which is of significant importance to you. For example, when your supplier’s services are critical to you meeting your customer’s requirements.
A service level agreement defines the service they must provide, the level of service to [...]
A joint venture agreement is suitable for two or more businesses wishing to come together for a specific project for a specific length of time but who do not wish to be bound together indefinitely. For those wanting to work with someone on a more long term basis then a partnership agreement may be more [...]
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A distribution arrangement is made between the supplier (principal) who sells his goods to the distributor and the distributor will, as a separate transaction, sell the goods to his customer.
There is no contract of sale between the supplier and the ultimate purchaser of the goods.
Put simply, the distributor will buy the goods from the supplier [...]
Most businesses (and particularly those that wish to trade nationally or internationally) use intermediaries in their dealings with the outside world. ‘Agents’ can provide businesses with, amongst other things, specialist knowledge of a particular market, commodity or area and an immediate presence for negotiating contracts in any geographical location. They can also be used to [...]
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A franchise agreement is a crucial document whether you are the franchisor or the franchisee.
Franchisees
If you are a franchisee buying a franchise is a significant investment and you should not sign any agreement, or pay any fees or deposit, until you have taken legal advice from a solicitor.
The simplest way to begin is to obtain [...]
A confidentiality agreement (also known as a non-disclosure agreement or NDA) is required in the early stages of any discussions you may have about sharing your business knowledge with another party.
Time and time again we come across companies who have entered into talks with another business and shared information only for negotiations to break down [...]
