Contracts are a vital part of the business world. During the course of doing business you may sign many kinds of agreements. Make sure every one of them protects you properly and works well for your business by working with a commercial contracts lawyer from Merchant Law.
Our team can help you draft, negotiate, and manage every contract that you and your team might need to sign. We can help with everything from complex merger and acquisition agreements to relatively simple standard employment agreements and NDAs.
Sometimes even the best agreements go sour. We’re here to help when they do. Our team of experienced litigators will help you recover damages from breaches and defend your company when you’re accused of a breach.
What are common contract issues?
One common issue is a failure to lock in certain variable terms, like pricing. Service contracts might obligate you to stay with a particular vendor, but fail to obligate the vendor to keep their services at a certain price point. The result can mean having to live with whatever new pricing they come up with.
Another common issue is a lack of clarity in terms and conditions. Any time you have a lack of clarity it can be easy to create breaches even when everyone thinks they’re acting in good faith.
Sometimes the problem is a matter of competing contracts. If you sign multiple agreements with the same party it can become impossible to know which ones take precedence. You need outstanding contract management skills to make sure this doesn’t happen.
What happens when a contract gets broken?
Usually the party who is suffering from the breach informs the other party, in writing, that they are failing to live up to their end of the bargain. They’re given an opportunity to fix, or “cure,” the problem.
In some cases, a contract renegotiation may be called for. Addendums and riders may help solve the issue and preserve the relationships between all parties. You might choose this option when the breaching party cannot meet their obligations right now through no fault of their own. Perhaps their facilities were damaged in a storm, for example, and they need time to rebuild before they can start servicing the contract once more.
In some cases, the matter may need to go before a mediator or judge. The breaching party may either be compelled to uphold their end of the bargain or compelled to pay damages should they be incapable of doing so.
Why Merchant Law?
When you work with Merchant Law you get access to some of British Columbia’s toughest business lawyers. We’re top-notch negotiators and litigators with decades of experience and a long track record of helping companies like yours protect their interests.
Set an appointment today by calling (604) 609-7777. We’ll be happy to answer your questions and to help you determine whether we’re the right contract lawyers for you.