Contract Review Service

Contracts are a crucial aspect of conducting business operations, a fact well understood by most entrepreneurs or business owners.  At West Perth Legal, our contract review service is designed to help you mitigate legal risks by conducting a thorough review of your contract. This allows you to fully understand what you are entering into and help you on your contract negotiation journey. Our aim is to help you successfully perform and utilise your contract and avoid contract breaches in the future.

Contract Review Before You Enter into a Contract

Before entering into a contract, such as a general terms and conditions, loan agreements, business sale agreements, joint venture agreements, employment agreements, or partnership agreements, engaging an experienced Commercial and Contracts Lawyer to conduct a professional contract review can provide significant benefits to you.  A lawyer can conduct a thorough review of a contract to avoid unfavourable clauses, which can result in legal disputes, excessive legal fees and missed opportunities.

Contract Review for Existing Contracts

Contracts can be affected by changes to the law or evolving business conditions. For example, a contract that was legally valid and enforceable at the time of signing may become invalid if changes to the law make certain provisions unenforceable. Similarly, a contract that was correct at the time of signing may no longer be accurate if the conduct of the parties have changed. Therefore, it is essential to review existing contracts regularly to ensure that they remain valid and enforceable.

What is a Contract Review?

Contract reviews are designed to ensure that the terms of the contract are reflective of the purpose to which it is intended to serve; and that it sets out the key terms of your agreement or transaction. Contract reviews will not only help you to identify any clauses that could create problems down the line, but also help to identify any potential opportunities that may be advantageous to you.

Contract reviews are conducted by qualified Commercial Lawyers and Contracts Lawyers who have the knowledge and expertise to assess the content of the contract and spot any potential issues. This can include ensuring that the terms of the contract are consistent with any applicable laws, regulations, and industry standards. In addition, a contract review may also provide advice on how to improve the terms of the contract to better suit your business needs.

The Contract Review Process

During a contract review, our Commercial Lawyer/Contracts Lawyer may examine several aspects of the contract, including:

1. Identifying the appropriate agreement for your type of transaction

Different types of transactions may require different types of agreements, such as a sales agreement for a business sale, a service agreement for someone providing professional services, or a lease agreement between a lessor and lessee for a premises.

A contracts lawyer can clarify which contract would be best for your transaction in each situation.

2. Ensuring your contract is compliant with the law

The review will also check for compliance with applicable laws, regulations, and industry standards. This may include local, state, or federal laws.

3. Highlight unusual or risky clauses

The next step is to identify key provisions that may have significant legal or financial implications. These may include clauses relating to termination, renewal, indemnification, warranties, payment terms, or intellectual property rights.

4. Identifying errors

Our Contracts Lawyer will check for errors in the contract such as an incorrect spelling of the parties’ names, referencing errors etc. These could affect the validity of the contract, and could create ambiguities.

5. Protecting your rights and interests

Our Contracts Lawyer can ensure that the contract protects your rights and interests, such as by ensuring that the terms are more favourable to you and that you have appropriate remedies in case of breach or default by the other party. However, the extent to which a party can achieve this will depend on its relative bargaining position.

6. Negotiating better terms/providing you with suggested amendments for certain clauses

Our Contracts Lawyer can help you negotiate better terms, such as identifying contractual clauses that are incorrect or overly onerous on you, then suggesting changes to the contract or drafting additional provisions that better protect your interests.

7. Provide answers to your questions about the contract

As part of the contract review service, the client has an opportunity to speak to a Contracts Lawyer and discuss any questions he/she may have about the contract. This is a beneficial process to help you gain more confidence around performing the obligations under the contract and help ensure your success.

8. Preparing a legal document that is ready to be executed by the parties

If necessary, our Contracts Lawyer can help prepare the legal document for signing by the parties.

You can read more about the benefits of contract review in our insight article.

West Perth Legal Contract Review Service

At West Peth Legal, we provide contract review, contract drafting, and contract negotiation services. Our Commercial Lawyers and Contracts Lawyers are experienced with a range of commercial contracts and will be able to advise you on common practices and risky clauses.

We have extensive legal experience in analysing contracts and identifying potential risks. We can provide insights and recommendations for improving contract terms. Engaging us for a professional contract review service can provide you with peace of mind, knowing that your contracts have been reviewed by legal experts and are less likely to result in disputes or legal action.

We pride ourselves on being detailed, pragmatic and approachable. We offer fixed fees and quick turnaround. Contact us for an obligation free quote.