{"id":1060,"date":"2026-09-21T05:01:32","date_gmt":"2026-09-21T05:01:32","guid":{"rendered":"https:\/\/www.ynzgroup.co.in\/blog\/?p=1060"},"modified":"2026-10-01T04:23:38","modified_gmt":"2026-10-01T04:23:38","slug":"principles-of-contract-drafting-that-protect-your-business-from-risk","status":"publish","type":"post","link":"https:\/\/www.ynzgroup.co.in\/blog\/principles-of-contract-drafting-that-protect-your-business-from-risk\/","title":{"rendered":"Principles of Contract Drafting That Protect Your Business from Risk"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1060\" class=\"elementor elementor-1060\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-38151485 e-flex e-con-boxed e-con e-parent\" data-id=\"38151485\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-234e9635 elementor-widget elementor-widget-text-editor\" data-id=\"234e9635\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t\n<p class=\"wp-block-paragraph\">A business contract should do more than record an agreement. It should clearly define responsibilities, protect business interests, and reduce the chances of future disputes. Good contract drafting services focus on the actual commercial arrangement while considering the legal risks involved.<\/p>\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n<ul class=\"wp-block-list\">\n<li><span class=\"TrackChangeTextInsertion TrackedChange SCXW123788507 BCX0\"><span class=\"TextRun SCXW123788507 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW123788507 BCX0\">Contract is a great Risk Mitigation tool.<\/span><\/span><\/span><span class=\"EOP Selected TrackedChange SCXW123788507 BCX0\" data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n\n<li>The parties, scope of work, payment terms, and timelines should be clearly defined.<\/li>\n\n<li>Do not overlook liability, confidentiality, intellectual property, and termination.<\/li>\n\n<li>Consider risk allocation before signing the agreement.<\/li>\n\n<li>Proper business contract drafting can help create practical and enforceable agreements.<\/li>\n\n<li>Regular legal review can strengthen a company&#8217;s overall contract risk management.<\/li>\n<\/ul>\n\n<h2 class=\"wp-block-heading\"><strong>What Is Contract Drafting and Why Is It Important for Businesses?<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">In India, the Indian Contract Act, 1872, primarily governs contracts, along with other laws that may apply to a particular transaction or industry. <\/span><span data-contrast=\"auto\">For example, HR and employment contracts must align with the <\/span><span data-contrast=\"auto\">Factories Act, 1948, statutory<\/span><span data-contrast=\"auto\">relevant<\/span> <span data-contrast=\"auto\">labour<\/span><span data-contrast=\"auto\"> codes<\/span><span data-contrast=\"auto\"> and applicable <\/span><span data-contrast=\"auto\">labour laws<\/span><span data-contrast=\"auto\">, and state Shops and Establishments Acts<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\"> IT and software service agreements are regulated by<\/span><span data-contrast=\"auto\"> applicable<\/span><span data-contrast=\"auto\"> data privacy laws<\/span><span data-contrast=\"auto\"> including but not limited to<\/span><span data-contrast=\"auto\"> the Information Technology Act, 2000<\/span><span data-contrast=\"auto\">, <\/span><span data-contrast=\"auto\">Digital personal <\/span><span data-contrast=\"auto\">D<\/span><span data-contrast=\"auto\">ata <\/span><span data-contrast=\"auto\">P<\/span><span data-contrast=\"auto\">rotection<\/span><span data-contrast=\"auto\"> Act, 3023<\/span><span data-contrast=\"auto\"> and<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\"> commercial property leases depend on the Transfer of Property Act, 1882 and RERA<\/span><span data-contrast=\"auto\">. <\/span><span data-contrast=\"auto\">The<\/span><span data-contrast=\"auto\">se<\/span><span data-contrast=\"auto\"> Act<\/span><span data-contrast=\"auto\">s<\/span><span data-contrast=\"auto\"> cover<\/span><span data-contrast=\"auto\">s<\/span><span data-contrast=\"auto\"> areas including proposals, acceptance, consideration, consent, performance and breach.\u00a0<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">For businesses, a contract can clarify what each party has agreed to do. It can also establish what happens when an obligation is not fulfilled.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Good legal contract drafting therefore considers both the business objective and the potential risks associated with the agreement.<\/span><\/p>\n\n<h2 class=\"wp-block-heading\"><strong>What Are the 7 Key Principles of Contract Drafting?<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\">Effective contracts follow principles that make agreements clearer, practical, and suited to the relationship.<\/p>\n\n<h3 class=\"wp-block-heading\"><strong>1. How Should the Parties and Their Responsibilities Be Defined?<\/strong><\/h3>\n\n<p class=\"wp-block-paragraph\">The contract should correctly identify every party entering into the agreement.<\/p>\n\n<p class=\"wp-block-paragraph\">For a company, this may include its full legal name, registered address and authorised representative. The agreement should also clearly state what each party is expected to do.<\/p>\n\n<p class=\"wp-block-paragraph\">Responsibilities should not be left to assumptions. If one party must supply materials and another must provide services, the contract should state these obligations clearly.<\/p>\n\n<p class=\"wp-block-paragraph\">This is one of the most important <a><u><strong>contract<\/strong><\/u><\/a> <strong>drafting principles<\/strong> because uncertainty about responsibilities can lead to disagreements.<\/p>\n\n<h3 class=\"wp-block-heading\"><strong>2. Why Is Clear and Precise Language Important in a Contract?<\/strong><\/h3>\n\n<p class=\"wp-block-paragraph\">A contract should use clear, consistent language.<\/p>\n\n<p class=\"wp-block-paragraph\">Unclear terms can result in different interpretations. Defined terms should have the same meaning throughout the agreement. Dates, amounts, timelines and obligations should also be stated accurately.<\/p>\n\n<p class=\"wp-block-paragraph\">Good <strong>legal contract drafting<\/strong> does not mean using complicated legal language. It means making the intended meaning clear.<\/p>\n\n<h3 class=\"wp-block-heading\"><strong>3. How Should the Scope of Work and Deliverables Be Drafted?<\/strong><\/h3>\n\n<p class=\"wp-block-paragraph\">A contract should clearly explain what is being provided and what the parties expect from one another.<\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">The scope may cover:<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Services or products involved<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Deliverables<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Project milestones<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Completion dates<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Quality or acceptance standards<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><span data-contrast=\"auto\">Responsibilities of each party<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><span data-contrast=\"auto\">Process for approving changes<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><span data-contrast=\"auto\">Payment related terms<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"9\" data-aria-level=\"1\"><span data-contrast=\"auto\">Jurisdiction\u00a0<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"10\" data-aria-level=\"1\"><span data-contrast=\"auto\">explicit exclusions<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"11\" data-aria-level=\"1\"><span data-contrast=\"auto\">Client dependencies, prerequisites, and resource commitments<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"12\" data-aria-level=\"1\"><span data-contrast=\"auto\">Post-delivery support, maintenance, and Service Level Agreements (SLAs)<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"13\" data-aria-level=\"1\"><span data-contrast=\"auto\">Warranties, remedies, and defect resolution windows<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"14\" data-aria-level=\"1\"><span data-contrast=\"auto\">Intellectual Property ownership, licensing rights, and pre-existing IP<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"15\" data-aria-level=\"1\"><span data-contrast=\"auto\">Delay mechanisms, force majeure events, and relief events<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Clear scope is central to effective business contract drafting. It reduces the chance that one party expects something that was never agreed to.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\n<ul class=\"wp-block-list\"><\/ul>\n<!-- \/wp:list --><!-- wp:paragraph --><!-- \/wp:paragraph --><!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>4. What Payment Terms Should a Business Contract Include?<\/strong><\/h3>\n<!-- \/wp:heading --><!-- wp:paragraph -->\n<p>Payment terms should be specific and easy to understand.<\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph -->\n<p>Depending on the transaction, the contract may address the payment amount, invoice requirements, payment schedule, applicable taxes, milestones and consequences of delayed payment.<\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph -->\n<p>Clear payment terms can help prevent disputes and provide both parties with a defined financial framework.<\/p>\n<!-- \/wp:paragraph --><!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>5. How Should Contracts Allocate Business Risks and Liabilities?<\/strong><\/h3>\n<!-- \/wp:heading --><!-- wp:paragraph -->\n<p>Every business relationship carries some degree of risk. A well-drafted contract should consider which party is responsible for\u00a0risks.<\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph -->\n<p>These may include:<\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Delayed performance<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Non-payment<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Defective goods or services<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Third-party claims<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Confidentiality breaches<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><span data-contrast=\"auto\">Intellectual property issues<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><span data-contrast=\"auto\">Data protection and cybersecurity breaches<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><span data-contrast=\"auto\">Regulatory and legal non-compliance<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"9\" data-aria-level=\"1\"><span data-contrast=\"auto\">Force majeure and unexpected business disruptions<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"10\" data-aria-level=\"1\"><span data-contrast=\"auto\">Key personnel loss or sub-contractor failure<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"11\" data-aria-level=\"1\"><span data-contrast=\"auto\">Termination liabilities and transition risks<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<!-- \/wp:list --><!-- wp:paragraph -->\n<p>The agreement may address these risks with liability, indemnity, and other risk-allocation provisions, depending on the transaction.<\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph -->\n<p>This forms a key part of contract risk management. Businesses can consider potential problems during drafting instead of dealing with them only after they occur.<\/p>\n<!-- \/wp:paragraph --><!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>What Clauses Should Be Included in a Business Contract?<\/strong><\/h2>\n<!-- \/wp:heading --><!-- wp:paragraph -->\n<p>The clauses required will depend on the type of agreement. However, several areas commonly require careful consideration.<\/p>\n<!-- \/wp:paragraph --><!-- wp:table -->\n<table style=\"font-weight: 400;\" data-tablestyle=\"MsoTableGrid\" data-tablelook=\"1696\" aria-rowcount=\"16\" aria-colcount=\"2\">\n<tbody>\n<tr aria-rowindex=\"1\">\n<td data-celllook=\"0\">\n<p><b><span data-contrast=\"auto\">Contract clause<\/span><\/b><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><b><span data-contrast=\"auto\">Purpose<\/span><\/b><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"2\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Scope of work<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Defines the agreed services or deliverables<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"3\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Payment terms<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Establishes financial obligations<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"4\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Confidentiality<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Protects sensitive business information<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"5\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Intellectual property<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Addresses ownership or permitted use<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"6\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Liability<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Sets out relevant liability positions<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"7\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Indemnity<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Allocates specified risks between parties<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"8\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Representations &amp; Warranties<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Confirms key underlying facts and capacity to enter into the contract<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"9\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Data Protection &amp; Cybersecurity<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Regulates handling, security, and statutory compliance for personal data<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"10\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Termination<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Explains when and how the agreement can end<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"11\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Non-Compete &amp; Non-Solicit<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Restrains parties from poaching clients, employees, or competing unfairly<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"12\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Force Majeure<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Relieves parties of liability during unforeseen, uncontrollable events<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"13\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Assignment &amp; Change of Control<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Controls whether contractual rights or obligations can be transferred<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"14\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Severability<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Ensures remaining provisions stay valid if one clause is held illegal or invalid<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;469777462&quot;:[1700],&quot;469777927&quot;:[0],&quot;469777928&quot;:[1]}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"15\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Dispute resolution<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Establishes a process for handling disputes<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr aria-rowindex=\"16\">\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Governing law<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<td data-celllook=\"0\">\n<p><span data-contrast=\"auto\">Identifies the applicable legal framework<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u00a0<\/p>\n<!-- \/wp:table --><!-- wp:paragraph -->\n<p>Following these contract drafting principles can help businesses avoid leaving important areas unaddressed.<\/p>\n<!-- \/wp:paragraph --><!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>What Should a Contract Say About Termination and Disputes?<\/strong><\/h2>\n<!-- \/wp:heading --><!-- wp:paragraph -->\n<p><span data-contrast=\"auto\">A contract should explain how the business relationship can end. Termination provisions specify when, how either party can end the agreement, including notice requirements and opportunities to correct breaches.<\/span><span data-contrast=\"auto\"> Exi<\/span><span data-contrast=\"auto\">t mechanism is very important and contract must provide for it.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This may include:<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Grounds<\/span><\/b> <b><span data-contrast=\"auto\">of Termination<\/span><\/b><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Payment of outstanding amounts<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Return or protection of confidential information<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Handover of work or materials<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Continuation of certain obligations<\/span><span data-contrast=\"auto\"> example- survival clause which in<\/span><span data-contrast=\"auto\">cludes<\/span> <span data-contrast=\"auto\">IP, <\/span><span data-contrast=\"auto\">confidentiality<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\"> Indemnity<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Treatment of intellectual property<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><span data-contrast=\"auto\">Removal of access to business systems<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><span data-contrast=\"auto\">T<\/span><span data-contrast=\"auto\">ransition assistance &amp; handover support<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Dispute resolution is crucial. Depending on the transaction and law, parties may choose negotiation, mediation, arbitration, or court proceedings.<\/span><\/p>\n<!-- \/wp:paragraph --><!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>Should You Use a Contract Template or Hire a Legal Professional?<\/strong><\/h2>\n<!-- \/wp:heading --><!-- wp:paragraph -->\n<p>Templates can provide a starting point for simple agreements. However, a template may not reflect the specific requirements of a particular transaction.<\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph -->\n<p>Professional assistance can be valuable when the agreement involves:<\/p>\n<!-- \/wp:paragraph --><!-- wp:list -->\n<ul class=\"wp-block-list\"><!-- wp:list-item -->\n<li>Significant financial commitments<\/li>\n<!-- \/wp:list-item --><!-- wp:list-item -->\n<li>Long-term obligations<\/li>\n<!-- \/wp:list-item --><!-- wp:list-item -->\n<li>Intellectual property<\/li>\n<!-- \/wp:list-item --><!-- wp:list-item -->\n<li>Confidential information<\/li>\n<!-- \/wp:list-item --><!-- wp:list-item -->\n<li>Multiple parties<\/li>\n<!-- \/wp:list-item --><!-- wp:list-item -->\n<li>Complex payment structures<\/li>\n<!-- \/wp:list-item --><!-- wp:list-item -->\n<li>Regulatory requirements<\/li>\n<!-- \/wp:list-item --><!-- wp:list-item -->\n<li>High consequences in case of breach<\/li>\n<!-- \/wp:list-item --><\/ul>\n<!-- \/wp:list --><!-- wp:paragraph -->\n<p>The purpose of professional business contract drafting is not just to create a lengthy document but to ensure critical commercial and legal issues are addressed.<\/p>\n<!-- \/wp:paragraph --><!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>How Can Legal Advisors Support Better Business Contracts?<\/strong><\/h2>\n<!-- \/wp:heading --><!-- wp:paragraph -->\n<p><span data-contrast=\"auto\">Contracts are only one part of a company&#8217;s legal requirements. Businesses may also need support with corporate matters, <a href=\"https:\/\/www.ynzgroup.co.in\/company-compliance-india.html\">compliance<\/a>, transactions, employment issues and disputes.<\/span><span data-contrast=\"auto\"> Mumbai has a unique significance <\/span><span data-contrast=\"auto\">of being a finance capital <\/span><span data-contrast=\"auto\">of India. <\/span><span data-contrast=\"auto\">Multiple <\/span><span data-contrast=\"auto\">business <\/span><span data-contrast=\"auto\">t<\/span><span data-contrast=\"auto\">hrive\u00a0 in India, <\/span><span data-contrast=\"auto\">and Mumbai <\/span><span data-contrast=\"auto\">houses <\/span><span data-contrast=\"auto\">headquarters <\/span><span data-contrast=\"auto\">of <\/span><span data-contrast=\"auto\">Industrial Houses.<\/span><span data-contrast=\"auto\"> Legal Advisory in Mumbai, should be sensitive to the <\/span><span data-contrast=\"auto\">international significance.\u00a0<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In Legal field, <\/span><span data-contrast=\"auto\">professionals cater to <\/span><span data-contrast=\"auto\">C<\/span><span data-contrast=\"auto\">riminal Procedures, Civil Arbitration<\/span><span data-contrast=\"auto\">, Corporate Interllectual Property Laws. It is important to <\/span><span data-contrast=\"auto\">see<\/span><span data-contrast=\"auto\">k<\/span><span data-contrast=\"auto\"> advice from relevant subject matter expert.\u00a0<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\n<p><span class=\"TextRun SCXW229849864 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW229849864 BCX0\">Ongoing legal guidance can also help businesses develop a more consistent approach to contract risk management across different agreements.<\/span><\/span><\/p>\n<p><b><span data-contrast=\"auto\">Building Greater Certainty Through Better Contracts<\/span><\/b><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span class=\"TrackChangeTextInsertion TrackedChange SCXW210591014 BCX0\"><span class=\"TextRun SCXW210591014 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW210591014 BCX0\">Building sound contract requires defining responsibilities clearly, managing operational risk, and <\/span><span class=\"NormalTextRun SCXW210591014 BCX0\">establishing<\/span><span class=\"NormalTextRun SCXW210591014 BCX0\"> structured frameworks for dispute resolution.<\/span><\/span><\/span> <span class=\"TrackChangeTextInsertion TrackedChange SCXW210591014 BCX0\"><span class=\"TextRun SCXW210591014 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW210591014 BCX0\">Because commercial terms depend entirely on the specific transaction, parties, and sector-specific risks, contract drafting principles must be adapted to each unique business <\/span><\/span><\/span><span class=\"TrackChangeTextDeletionMarker TrackedChange SCXW210591014 BCX0\"><span class=\"TextRun SCXW210591014 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun TrackChangeTextDeletion SCXW210591014 BCX0\">T<\/span><\/span><\/span><span class=\"TrackChangeTextInsertion TrackedChange SCXW210591014 BCX0\"><span class=\"TextRun SCXW210591014 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW210591014 BCX0\">relationship <\/span><\/span><\/span><span class=\"TrackChangeTextInsertion TrackedChange SCXW210591014 BCX0\"><span class=\"TextRun SCXW210591014 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW210591014 BCX0\">ranging from vendor and consultancy agreements to employment, non-disclosure, shareholder, and joint venture structures. Maintaining <\/span><\/span><\/span><span class=\"TrackChangeTextInsertion TrackedChange SCXW210591014 BCX0\"><span class=\"TextRun SCXW210591014 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW210591014 BCX0\">high <\/span><\/span><\/span><span class=\"TrackChangeTextInsertion TrackedChange SCXW210591014 BCX0\"><span class=\"TextRun SCXW210591014 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW210591014 BCX0\">standards<\/span><span class=\"NormalTextRun SCXW210591014 BCX0\"> during contract drafting, review, and negotiation ensures that commercial agreements <\/span><span class=\"NormalTextRun SCXW210591014 BCX0\">remain<\/span><span class=\"NormalTextRun SCXW210591014 BCX0\"> aligned with underlying business objectives.<\/span><\/span><\/span><\/p>\n<!-- \/wp:paragraph -->\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>A business contract should do more than record an agreement. It should clearly define responsibilities, protect business interests, and reduce the chances of future disputes. Good contract drafting services focus on the actual commercial arrangement while considering the legal risks involved. Key Takeaways What Is Contract Drafting and Why Is It Important for Businesses? In [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Principles of Contract Drafting That Protect Your Business from Risk<\/title>\n<meta name=\"description\" content=\"Learn the key principles of contract drafting to define responsibilities, manage business risks, protect interests, and create clear and effective agreements.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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