Negotiating, Forming and Managing Contracts
Contracts form the foundation of virtually all commercial transactions and play a fundamentally important role in business. It is therefore important that any non-binding heads of terms are carefully set down in writing, that all terms of binding contract are carefully negotiated and recorded in writing, and that, during the life of the contract there is proper monitoring and management of it and all legal procedures under the contract are implemented in accordance with its terms.
This subfolder contains a range of documents designed to deal with each and every stage of the life of a contract from the initial negotiation and recording of any agreed heads of terms, drafting final terms of contract, and formation of the contract, through changes, variations and dealings between the parties all the way through to expiry and/or termination of the contract.
In this subfolder, there are:
- a number of forms of Memorandum of Understanding
- two forms of Letter of Intent, designed to assist in the early stages of negotiations;
- a Guidance Note which explains how to avoid including a term in a contract that would be an unenforceable penalty;
- a form of agreement which provides a lock out clause to prevent one party to a contract from unfairly dealing with a a third party;
-a Guidance Note which explains how contracts have to be signed;
- a Deed of Variation, designed to ensure that changes made to the contract after it is signed become legally binding;
- novation letters which are designed to allow for smooth transitions where business ownership is transferred;
- forms of agreement which provide templates for mutual ending of a contract and mutual release from liabilities; and
- a range of letter templates wihch deal with a large number of common interactions between the parties ranging from a simple change of contact details to notices of breach and legal action.
These contract management documents should be used with care and always in a way that is compatible with the terms of the original contract.
These Contract Documents are part of the Business Documents Folder. Just £35.00 + VAT will provide you with 1 year's unlimited access to download all/any documents from the Business Folder.