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Category: Company

TOP CONTRACT TIPS

#15 GET ADVICE Of course we would say that wouldn't we! Yes, but we are often met with the phrase "I wish I had spoken to you first". You don’t have to spend a fortune on advice. Whoever it is you want to engage with, that professional adviser's review of your contract can give you great peace of mind. They can: point out the...

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TOP CONTRACT TIPS

#14 TURN YOUR CONTRACT INTO AN ASSET Think of the contract as a strategic tool to protect your business and manage risk. In our prior blog about negotiating contracts we set out key clauses to include. These are central to managing risk in your business. However, it can also be a positive asset as well. Why not use it is a marketing to...

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TOP CONTRACT TIPS

#13 ALWAYS REVIEW, NEVER FORGET Following on from our post about understanding the contract, it is just as important to review contracts as well. They are not a one off; they should almost be thought of as fluid. Why? Even if you have a very detailed scope of work, clients tend to ask you to add services. Don’t be afraid to upd...

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TOP CONTRACT TIPS

#12 IS MY CUSTOMER BOUND? How do you ensure your customer knows they are bound by your contract terms? It is frustrating when someone says they are not subject to the contract because they have never seen it. The first step is to send a copy of your contract to your customer or certainly tell them where to find them. If you email co...

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TOP CONTRACT TIPS

#11 DO NON COMPETES REALLY WORK? Non-compete clauses (also known as restrictive covenants) are commonly found in employment contracts. They are also used in many other business relationships. They are designed to prohibit third parties from offering business to the marketplace in competition with you. Provided they are appropriate a...

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TOP CONTRACT TIPS

#10 SHOULD I BE EXCLUSIVE? Exclusivity in a contract will mean you are the only supplier supplying that particular service or product to the customer. If you are the supplier, this is great. It means you know there will not be anyone else there to compete for the potential orders the client makes. Plus, it can create customer loyalt...

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Coronavirus Business Interruption Loan Scheme – some top tips

Here at WCL clients have been asking for assistance with regard to their applications for the Government's Coronavirus Business Interruption Loan Scheme (CBILS). Here are a few pointers as to what we see banks needing ahead of granting a loan under the government’s CBILS: They will only lend to businesses that can pay the money ...

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TOP CONTRACT TIPS

#9 DON’T LOSE THE LEGALESE Legalese can look complicated and is not always easy to understand. However it is included in contracts for a reason. It is a technical language. It has been developed to summarise and provide standard wording for contract issues which have arisen historically. Contract law has taken centuries to evol...

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TOP CONTRACT TIPS

#8 WHO IS THE CUSTOMER? Have you used the right contractual terms for the right customer? Contracts can look very different dependent on who the ultimate customer is. Business to business contracts (B2B) will likely use quite harsh language and look to for example limit liability to maximum levels possible. Business to consumer cont...

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TOP CONTRACT TIPS

#7 CLEAR LANGUAGE, CHECK THE GRAMMAR There is no requirement to have complicated and archaic language running through a contract. It confuses and frustrates people. Language in the contract should where possible be kept simple and clear. Legalese is still an essential part of contracts. So whilst the language can be confusing, it is...

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