When carrying out business activities, enterprises face the necessity to document the settlement of relations with conterparties every day, starting with the issues of providing the necessary equipment and raw materials for work and ending with the direct sale of goods (works and services). Documentation of the majority of business transactions consists in conclusion of the contracts and related documents.
The contract in entrepreneurial activity is not just a formality, but a document that regulates the legal relationship between the two parties, and which is binding, and therefore development (analysis) of the contract should be entrusted by lawyers.
The contract should be prepared by the specialist, who will correctly determine the form of the contract (simple written or notarized), verify the powers of the contract signatories, perform the necessary registration actions (if necessary), clearly define the terms of the contract (details the subject of the contract, the result that each party should receive based on the results of its execution, the procedure and terms for fulfilling the terms of the contract, the mechanism for protecting the interests of the parties), etc.
It should also be understood that the work of the specialist in the field of contract law consists not only in preparation of the contracts, acts, additional agreements or verification of existing documents, but also in verification of the counterparties (their founders, managers, other related persons), which includes: identification of court cases, in which the counterparty is a defendant, open enforcement proceedings in which the counterparty is a debtor, criminal proceedings against the counterparty, whether it has tax arrears, etc. This information will provide an opportunity to form a clear position on reliability of such a counterparty, help in making decision on cooperation and in resolving the terms of the relationship. Preparation of the qualitative contract and verification of the counterparty will help you avoid the majority of the business activity risks and create a solid legal basis to protect your rights and interests.