Often, businesses have entered into contracts over a period of time which may contain terms which they are not aware of, or which are not in their best interests commercially.
Never has this been more apparent than it is now in such uncertain economic times where better deals may be available. However it may be difficult for businesses to exploit other opportunities if they are tied into arrangements which are no longer suitable.
A good example of this issue is the current practice of drafting contracts which automatically renew for lengthy periods, often “locking” businesses into less favourable terms for a considerable time. It is important to build as much flexibility into contracts as possible to allow a business to make changes if possible (for example, swapping suppliers where a better price or improved service can be achieved).
We provide a service to audit existing commercial documentation to provide a report on the legal areas of concern for a business, as well as suggestions to reduce contractual risk going forward. as part of this service we create a central registry for clients to enable them to be aware of any clauses of note, and of dates for the service of notice so that auto-renewals can be avoided if necessary.