11 March 2020
legal contract or an agreement is not a mere piece of paper for signing between two parties but it protects one business entity with its rights and remedies.
An agreement also create responsibilities, conditions, manners, time limit, monetary issues, etc so that every corner of the agreement is properly sealed failing which it may result unforeseen loses.
A legal contract or an agreement has to be drafted with all sine qua none i.e important limbs as below :
scope of work/service
obligations / do's and don'ts
documentation & invoicing
dispute & settlement
observation and applicability of law
Survival cum Protection clauses
place of performance /supply
Business Secrets & confidentiality
non – competitive clauses
Every agreement has to be drafted with special caution and stereotype drafting may have fatal result.
It can be drafted by anyone but it is better to be drafted by a lawyer.