Introduction to Commercial Contracts
Contracts also known as Commercial Contracts in Nepal a legally binding agreements between two parties for commercial transactions.
In General, the contracts outline the terms and conditions of the commercial transaction, the rights, and duties of both the parties along with their liabilities.
Elements of Contract
There are several key elements of a Contract in the context of Nepal. Some of them are listed below:
Offer and Acceptance
Offer in Contract Law refers to the proposal presented to the other party whereas the consent to sign the contract is the acceptance of the contract.
Consent
Both Parties must have voluntarily and without the use of Force or other tools accepted the terms and conditions of the Contract.
Consideration
Consideration is the reciprocity of mutual benefits between two parties. In a contract, both parties must be lawfully benefitted for the contract to be considered acceptable.
Intention
Intention refers to the wish or desire to establish a legally binding relation enforceable by Law among the parties.
Types of Draftable Commercial Contracts
Commercial Contracts extend to the whole of Corporate and Company Law and require a unique drafting technique for each contract. In the context of Nepal and Lawneeti Associates, these are the types of commercial contracts drafted by us:
Sales Contract
Sales Contracts are signed between two parties who are exchanging goods and Services. Lawneeti Associates is a leading Sales Contract drafting Law Firm in Nepal with specific provisions according to your requirements.
Service Agreement
Service Agreements exist between companies offering services such as Banks, Insurance, etc. We are experts at creating service agreements that outline scope, duration, compensation, and intellectual property rights.
Employment Contract
Employment Contract specifies the terms of employment, the structure of compensation as well and non-compete clauses. Our Law Firm also drafts employment contracts in Nepal.
Lease and Other Property Agreements
Our Firm also drafts agreements and contracts related to Leases and other Property Agreements preferable for Property Transactions.
How do we Draft our Contracts at Lawneeti?
Lawneeti Associates has some of the most prominent contract drafters in Nepal. Here are the basic elements of a good commercial contract draft in Nepal:
Customized
A Contract is unique for each business and must be drafted as such. Our Contract Drafting Team specializes in aligning the contract to the distinct demands of our clients.
We try to understand the Industry, the Type of Contract, and the Future Business Plans of the Companies before drafting their contracts.
Compliance and Regulations
Each Contract Drafter must bear in mind the legal provisions and regulations related to the contract before drafting it. Our Contracts also meet the legal compliance requirements if any. It can also be legally binding and align with all existing laws.
Clarity and Precision
Clarity and Precision are the basic features of a good Draft. Here at Lawneeti Associates, we make use of Formal Language while making the contract easy to draft and understand.
Cost of Contract Drafting in Nepal
The Cost of Drafting a Contract in Nepal isn’t specific and no industry standard exists to regulate it. It should be noted that High-Quality and Well-researched contracts are easier to draft than simpler contracts.
Keeping that in mind, Lawneeti Associates is among the most cost-effective Contract Drafters in Nepal providing high value for money.
Associated Services
While we engage in Commercial Contract Drafting regularly, contracts also introduce complimentary Legal Obligations and Procedures.
To handle such procedures, we provide associated services along with the drafting of commercial contracts.
Negotiation
Commercial Contracts are often unfair and continuous negotiation is required to finalize them.
Our Firm tries to draft a fair and efficient contract while negotiating on behalf of our clients or even both our clients. In other words, we attempt to obtain favorable terms for our clients.
Review and Amendment
After a Contract has been drafted for a long period, it may require some changes according to the demand of the client or changes in rules in Regulations.
In both cases, we conduct diligent Contract Reviews and Amendments making it up-to-date with necessary compliance and protection.
Contract Breach and Claims
In the conditions of Contract Breach and enforcement of claims, our experienced advocates and lawyers can argue on behalf of our clients or make fair amends through Arbitration.
If the issue persists, our Law Firm also represents clients in Court Cases.