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Commercial Agreements
Discuss commercial contract terms that reflect how your business arrangement will operate, from performance and payment to changes and an eventual exit.
Translate the business arrangement into clear terms
A commercial agreement should reflect the deal the parties actually intend to carry out. Lim Wong & Partners assists with commercial agreements. A discussion can cover a proposed new arrangement, a draft received from another party or a variation to an existing contract.
Start with the business activity, the parties and the exchange being agreed. Useful topics include the work or goods involved, payment, responsibilities, information, performance standards and how changes will be recorded. It is equally helpful to discuss what happens if delivery, payment or cooperation does not proceed as expected.
Prepare the commercial facts before the document
Information for an initial review
Gather the draft and its schedules together with the proposal or correspondence that explains the deal. Identify the terms that have been agreed, the points still being negotiated and any commitment already made. Explain the practical consequences of a delay or disagreement for your business.
- The parties’ details, proposed scope, relevant dates and the commercial terms already discussed.
- Quotes, proposals, specifications, draft contracts, schedules and any existing agreement being replaced.
- Questions about payment, acceptance, changes, confidentiality, responsibility, termination or unresolved obligations.
A practice with transaction and dispute experience
Lim Wong & Partners assists with commercial agreements and property transactions. Mr. Lim Chon Sin handles civil litigation. The agreement should record the commitments clearly enough to guide day-to-day performance and help explain what was agreed if a dispute arises. Describe your industry, counterparties and any business practice the document needs to accommodate.
Discuss Your Matter
An initial conversation can define the proposed scope of contract work and identify the instructions needed to progress it. To discuss a commercial agreement, call 07-595 3768 or email cslim09@yahoo.com.
Inquiry - Commercial Agreements
