CONTRACT DRAFTING ADVISORY SERVICES

What is a contract?

A contract is an important legal document that is indispensable in business and transactional activities. It is an agreement reached by the parties after negotiation and mutual consent to the terms and conditions that both parties are obligated to comply with.

Pursuant to Article 385 of the 2015 Civil Code, a contract is defined as an agreement between the parties to establish, modify, or terminate civil rights and obligations. Under the provisions of this Code, there are currently several common types of contracts, including:

• Contract for the sale of property (Clause 1, Article 430)

• Contract for the exchange of property (Clause 1, Article 455)

• Contract for the donation of property (Article 457)

• Loan of property contract (Article 463)

• Lease of property contract (Clause 1, Article 472)

• Loan for use contract (Article 494)

• Land use rights contract (Article 500)

• Cooperation contract (Article 504)

• Service contract (Article 513)

• Contract of carriage (Articles 522 and 530)

• Processing contract (Article 542)

• Contract for the bailment of property (Article 554)

• Authorization contract (Article 562)

In addition, there are many other types of contracts, such as construction contracts, execution contracts, share transfer contracts, and capital contribution transfer contracts. These types of contracts are governed by specialized laws.

The Importance of Contract Signing

The signing of a contract brings many significant benefits. First, it creates clarity and transparency regarding the commitments and responsibilities of each party. A contract clearly defines what is expected from each party and sets out the applicable terms, conditions, and rights.

A contract also ensures fairness and provides legal protection for both parties. It establishes a dispute resolution mechanism in the event of conflicts or disagreements. Moreover, a contract provides a strong legal basis to ensure compliance with and enforcement of contractual obligations.

The importance of contract signing lies not only in ensuring reliability and stability in business transactions but also in building trust and long-term relationships between the parties. Compliance with contractual obligations creates a trustworthy business environment and facilitates favorable conditions for development and growth.

In conclusion, a contract is an essential instrument for ensuring clarity, fairness, and protection in business and transactional activities. The signing of a contract plays a crucial role in defining and safeguarding the rights and interests of each party, establishing reliability and stability in business relationships, and contributing to the sustainable development of organizations and enterprises.

Contract Advisory Services Provided by CELIGAL

CELIGAL’s contract advisory services include:

• Drafting contracts based on the business’s requirements and in compliance with applicable laws and regulations.

• Participating in negotiations and discussions with the business to facilitate the execution and signing of contracts.

• Providing legal advice on other related matters in accordance with contract law regulations, as requested by the business.

• Advising on legal provisions and their practical application in relation to contractual terms in the business’s various types of contracts.

• Reviewing relevant documents and researching information about the parties, thereby proposing optimal advisory solutions for the drafting and execution of contracts, ensuring maximum benefits for the business while balancing the interests of the parties to the contract.

• Reviewing and assessing the contents of draft contracts prepared by the business with its partners, in accordance with the business’s requirements and applicable legal regulations.