Sign a contract only after you know what you will be bound with after signing it. It can be dangerous if you have chosen some stereotype or boilerplate format which probably suits requirements of someone else who had different requirements than that of yours. Signing one sided agreements can also, in future, cause trouble to parties due to non-enforceability or validity of clauses that form part of such agreements.
It is not uncommon that due to poor drafting of clauses of a contract, the contract becomes susceptible to misinterpretation by one of the parties. Our counsels not only critically analyze already drafted clauses, but also add further clauses to ensure that all interests of the client are accurately met.
Understanding expectations, desired objectives, and subject matter from the party/ies forms the first step of Contract Drafting.
If the contract does not have appropriate clauses that are in accordance with the subject matter and the desired objectives, amendment to existing clauses is done along with addition of new clauses so as to make the contract comprehensive and water-tight.
After necessary iterations, the agreement/contract is finalized.
As can be well appreciated, time taken for contract vetting depends largely on complexities of subject matter covered. However, on an average, we conclude the process within 7 to 10 working days.
Draft of the Contract, Collateral Documents.
Contract vetting should be considered as a better option only when the contract has been drafted by a person familiar with legal consequences of contracts. If the contract has not been drafted by a competent person, getting it drafted from an Attorney having sound knowledge of applicable laws is a better option than contract vetting.