A Commercial Contract or Agreement, in writing, aims to set out the terms of an agreement reached between two parties. Commercial contracts are essential in any business environment to ensure that each party keeps to their end of the bargain.
A commercial contract provides certainty and avoids costly disputes by anticipating and allowing for potential areas of dispute. As a result of a written contract, parties will clearly understand what is required from them. Parties will also be aware of what ramifications will flow if one party reneges on their end of the bargain.
The most common reasons for parties suing one another are:
1. The contract didn’t cater for the subject of the dispute;
2. The contract did not properly reflect the agreement;
3. The written contract did not exist to begin with.
In the absence of a written contract, a court may find that there is an oral contract. However, establishing the terms of an oral contract is problematic to say the least, as well as very expensive.
We can assist you with whatever type of agreement you want to create. We will ensure that the terms of the agreement reflect your intentions and that the agreement becomes a sound and binding commercial contract that you can then rely upon.
You can contact us by phone at (03) 9763 6399 or through our online enquiry form.