Business Agreements

Business Agreements

Every business is governed by contracts. A contract is a legally binding agreement between two or more entities, which states their rights and obligations in a commercial transaction or business dealing. It sets out the details agreed between the entities and may cover a range of terms including materials, timeframes, payment terms and dispute resolution processes. A contract can be a simple handshake deal (verbal contract) or a written document. For any business, it is crucial to enter into written contracts as they give you more certainty, minimise business risks, and can be enforced in a court of law. 

As a general process, preparing a business contract involves:

• Information exchange between the parties

• Discussion and negotiation on the rights, obligations and key terms

• Contract preparation, which includes a written draft based on the discussions 

Some contracts end once the stipulated work is completed and payment has been made. While others are ongoing agreements that are in force over a specified period of time. Contracts can end before term for a variety of reasons, including breach or by mutual agreement between the parties.

Standard form contracts 

If your business regularly enters into the same type of contract, it is a good idea to use a standard form contract. This is a pre-prepared contract where most of the terms are set in advance and there is little or no negotiation. Examples include standard sales terms and conditions, employment contracts, lease agreements, insurance and other financial agreements. These are generally written to benefit the person offering the contract, so if you are on the other side, it’s important to read them carefully. 

Bespoke contracts

If you have a specific transaction, like buying or selling a business, you may need a bespoke contract. This is drafted specifically for your unique situation and takes into account a range of issues that may not be included in a standard form contract. The terms are then negotiated between the contracting parties to reach an agreement about the specific transaction. 

Before signing a contract

Contracts can often be complex and it is imperative that you fully understand the terms before signing anything. Read every word, including the fine print, and ensure that it reflects what you agreed. Never leave blank spaces on a contract—if a section doesn’t apply, cross it out so that it cannot be altered after signing. Don’t forget to keep a signed copy of the contract for your records. 

Engaging a professional and experienced lawyer will make sure that your interests are protected while entering into any contract. 

What we can do for you

At Elamine Lawyers, our business lawyers will guide you on all aspects of preparing a contract—from negotiating and drafting to reviewing contracts as well as managing and resolving disputes. We have experience in advising small and medium businesses and can offer everything from standard form contracts to complex bespoke agreements tailored to your specific business and requirements. 

The different types of business and commercial contracts that we can assist you with include:

• Buy and sell agreements

• Commercial leases

• Distribution and supply agreements

• Partnership and shareholders’ agreements

• Employment contracts and confidentiality agreements

• Service contracts

• Financing and loan agreements

Meet our Business Lawyers 

Talk to one of our Lawyers

Here’s a list of some of the documents we do 

• SAAS Agreements
• Intellectual Property Licence;
• Terms of Service;
• Software Development and Services;
• Employment Agreement;
• Sale of Assets;
• Confidentiality Agreements;
• Photography Contracts;
• Franchising;
• Fundraising;
• Sponsorships;
• Distribution agreements;
• Dealership agreements;
• Supply Agreements;
• Hosting Agreements;
• Shareholder Agreements;
• Privacy Policy;
• Trade Management (Construction) Agreements;
• Sub-contractor Agreements;
• Loan Agreements (No-interest)
• Discretionary Trust
• Unit Trust
• Fixed Trust
• Outsourcing Agreements;
• Photo Release Forms;
• Options to Purchase (Real Estate);
• Options to Sell (Real Estate);
• Swap Contracts;
• Car Sale Agreements;
• Truck Sale Agreements;
• Boat Sale Agreements;
• Bookkeeping Services Contract;
• Waiver Agreements;
• Commercial Lease Agreements (Non-Retail);
• Retail Leases;
• Wholesale Agreements;
• Shipping Policy (website);
• Final Warning Letters (Unsatisfactory Performance);
• End User Licence Agreements;
• Wedding Photography Agreement;
• Sale of Goods Agreement;
• Letters of Demand;
• Cancellation Policy (Australian Consumer Law compliant);
• Employment Agreement (Award);
• Joint Venture Agreement;
• Web design Service Agreement;
• Advertising Agreement;
• Referral Agreement;
• Transfer of Shares Agreement;