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Contract drafting and memorandums of understanding
We specialize in drafting commercial and personal contracts to high standards of accuracy and quality, aiming to achieve our clients' objectives in compliance with applicable laws.
Contracts and memorandums of understanding are crucial in commercial activities and civil transactions. They serve to document obligations, prevent future legal disputes, and provide a written reference if disputes do arise.
Given their importance, contracts and memorandums of understanding must be formulated according to specific standards to ensure they meet their objectives. Key standards include:
1. Clarity of Language and Phrasing.
2. Compatibility with Applicable Laws: Aligning the contract text with the provisions of current laws.
3. Achieving the Goals and Interests of the Parties involved.
4. Comprehensiveness of all relevant details and aspects of the agreement.
5. Protection of the Parties.
6. Avoiding Legal Loopholes.
7. Meeting Formal Requirements with legal formalities.
Because of the significant impact contracts can have, they must be fully understood by all parties involved, with clear knowledge of their results and the obligations they entail.
How can we help?
We provide our accredited clients with comprehensive legal drafting and review services for contracts and memorandums of understanding. Our process involves:
1. Studying Objectives behind the contract or memorandum of understanding.
2. Examining Legal Aspects.
3. Submitting Drafting Proposals.
4. Finalizing the Legal Formula.
5. Official Registration of contracts.
Questions about drafting contracts
Should contracts and memorandums of understanding be registered with the competent authorities?
The law does not generally require contracts or memorandums of understanding to be registered with official bodies, except in certain exceptional cases. Therefore, these documents are considered binding on the parties involved even without formal registration.Are contracts required to be paper?
While it is preferable for contracts and memorandums of understanding to be written, the law allows for oral agreements in some exceptional cases, such as commercial transactions and employment contracts. However, having written contracts is highly recommended as it saves effort, money, and time in resolving any legal disputes that may arise in the future.Should the contract be prepared by a specialized lawyer?
Although not legally required, it is advisable to have contracts drafted and reviewed by a specialized lawyer. This ensures the best legal formulation of the contract and provides added security if the lawyer witnesses the contract.