Vetting of legal documents is an essential task in the context of modern commercial world. A large number of contract/agreement are executed every day, and it binds the parties to the responsibilities and liabilities as set out in their respective contracts. Therefore, we always highly recommend to execute a contract after the contractual instrument being properly vetted.
Legal vetting is a crucial task which requires critical examination of legal documents. We always take into account each and every clauses of a contract/agreement seriously. Following are the important factors, among others, we consider during vetting process:
- Specific role under the contract
- Terms and Conditions
- Whether necessary safeguards is taken in terms of law
- Matter of Confidentiality
- The extent of Liability and Remedies
- Force Majeure
- Termination and Notice
- Arbitration and Dispute Resolution
- Governing Laws and Jurisdiction
- Any other relevant factor on a necessity basis.
This is one of our core services to provide legal opinion upon vetting legal documents. We vet many kind of legal documents which includes:
Power purchase agreements (PPA):
A power purchase agreement (PPA) is contract executed between a power producer (the seller) and the buyer (the consumer or trader). The PPA defines conditions of the agreement, such as the commencement time, schedule for delivery of electricity, prices, penalties for non-compliance with the amount of electricity to be supplied etc.
Buy and sell agreements
Buy and sell agreement is a kind of contract that stipulate details as to how a partner’s share of a business to be reassigned in the event that partner wishes to withdraw/sell his share of the business or if he, otherwise, dies.
A distribution agreement is made between a supplier of goods and a distributor of goods. There are two types of distribution agreement: exclusive distribution agreement and non-exclusive distribution agreement. A distribution agreement binds both the supplier and the distributor with the terms and conditions the agreement so defines. It is important to consider competition law while drafting/reviewing a distribution agreement.
Supply agreement is an agreement where a supplier agrees to supply specified goods or services to a buyer within a specified time and rate. The agreement binds the seller to deliver exclusively to the buyer as well as binds the buyer to purchase such goods or services exclusively from the seller until the agreement is terminated. A supply agreement sets out terms and conditions under which the supplier supplies the goods or services and the buyer purchases such goods or services.
A partnership agreement is a kind of written contract where two or more individual agrees to each other to join a business as partners. A partnership agreement stipulates terms and conditions which regulates the relationship between partners in a partnership agreement. A good review work is therefore always recommended.
A service contract is an agreement which is made between two individual or between two entities or between entity and individual where one commits to provide a certain service to the other. A service agreement binds both the parties to the contract. Example of service contract includes warranty of product (e.g. free repairing service) during a specified period, or any form of consultation service etc.