Contract disputes can result in unnecessary loss of time and money for business owners. Not to mention, stress, not only for you, but for your family as well.
At Nath Solicitors, our commercial contracts are drafted to protect your best interests. This includes putting in place clear, concise dispute resolution clauses. The importance of investing in these clauses is impossible to overstate. Especially if the contract involves multiple parties, working together on a project across various international jurisdictions.
Types of dispute resolution clauses
Disputes resolution clauses can be straightforward in that they simply state the governing law or jurisdiction through to a multi-tiered escalation process.
Multi-tiered dispute resolution clauses tend to outline the informal disputes resolution procedures that parties to a dispute should first use to resolve the issue, such as round-table negotiation and mediation. If the dispute cannot be resolved through these methods, formal, binding methods can be used, such as arbitration or litigation.
To be legally enforceable, dispute resolution clauses in commercial contracts need to be unambiguous and set out a specific process for both parties to follow.
Our solicitors have the experience and commercial acumen required to draft dynamic dispute resolution clauses for commercial contracts within any market sector.
Partnering with you
Our commercial contract solicitors will partner with you when drafting your contract. By discovering the scope of the project, the objectives of the parties involved and possible areas where a dispute could arise, we can draft smart, bespoke dispute resolution clauses designed to save you time and money in the long-term.
By ensuring your contract contains a well-drafted dispute resolution clause, you will have peace of mind that should a disagreement arise, all parties have a pre-agreed process for managing it quickly and cost-effectively.
To discuss how we can assist you with drafting/negotiating dispute resolution clauses, call our London office on 0203 983 8278 to make an appointment with one of our commercial contract solicitors.
