Contract consultancy, drafting services

A Contract is a document confirming the agreement between parties regarding a specific transaction, and contains code of behaviour that parties must comply with, including rights, obligations, responsibilities of each party, as well as, the expected progress schedule for parties to perform such rights and obligations. A contract could be seen as a legal instrument constructed by the two parties in order to establish a legal basis to adjust the actions of parties during the transaction. During the commercial contract consultation, drafting and negotiation period, we notice that many enterprises still do not fully appreciate the importance of the contract. There are many cases where parties employ a premade contract template or draft rudimentary agreements, some of which even have the legal relationship of the contract wrong. This is especially true for enterprises with foreign capital, enterprises working in the field of goods production, sale and purchase…

Content of contract consultancy service

In case the clients use our legal consultancy service, specifically contract consultancy, our Lawyers will assist and perform the following tasks:

  • Advise clients on contract construction strategy, strategy to work with partners to prepare for contract drafting and negotiation;
  • Construct scenario for contract drafting and negotiation;
  • Advise clients on legal regulations and real-life examples relevant to the processes of drafting, negotiating and performing the contract;
    Draft the draft contract;
  • Explain and negotiate with the client, relevant people of the client regarding the draft contract, the contents within and the reasoning of the contract;
  • Participate in contract negotiation;
  • Advise clients on matters to take note of after signing the contract.

Notes for contract drafting

The contract should be drafted and negotiated by people with high level of understanding and experience in both the field of law and the specific field relevant to the contract (construction, medical, sale/purchase of goods, manufacturing…). In cases where experts, supporting Lawyers are needed, you can contact Inteco-Legal Practice.
Before drafting the contract, it is necessary to determine what the contractual relationship is in order to avoid confusion in terms of relationship. For example: confusion between the manufacturing and ordering production relationships; or between purchase and lease purchase of assets…
The language of the contract should be short, simple, easy to understand and familiar to both parties. Avoid using too many specialized terms, or jargon that would be confusing to both parties, and for people who would directly perform the Contract. Contract drafting skill is very important and needs to be implemented in a specific, flexible way in the drafting of the contract.
The party that actively proposes the draft contract should do some research beforehand and get the know the other party thoroughly, they must also understand their own position. Experience has taught us that there are many situations where the contract negotiating officers or the contract drafting Lawyers do not understand their own position and would fall prey to the “sign now, think later” mindset. The contract would sometimes not be able to be executed due to the parties not having the capacity or experience to carry it out.
Above are some of our experiences regarding contract drafting, we shall return with more contents and details in a different article. If you have any request, please contact us directly.