Contract negotiation and preparation is critical to the ultimate enforceability of the contract in practice and the legal consequences thereafter.
With many years of diversified experience in solving commercial-business and civil disputes at court and arbitration, LeTran has a deep understanding of the practical risks and contractual traps inherent in contract law. This includes a full knowledge of commercial remedies and the common disputes, as well as the ability to evaluate the level of risk which is acceptable to our clients from negotiation and drafting to practical performance between the signatories.
Any misunderstanding, subjective thinking or misstep during contract negotiation and formation, regardless how minor it appears at the time, can have a serious impact on the future of the company. These consequences include the contract being deemed null and void, involvement in costly and time-consuming disputes, and even significant liability for your company, all of which could have been avoided if the contract was well-negotiated and drafted from the outset.
When entering into a contract, the goal of any company is to avoid the many potential legal risks as well as successfully conclude the contract between the company and its business partner. Pursuant to this, when drafting the contract as well as revising a contract drafted by the client, LeTran not only considers the legal regulations governing the industry, goods and services of the contract, but also considers the enforceability in practice when the terms and conditions of the contract are applied. This ensures that the client circumvents unnecessary risks and the contractual purposes of the parties are fulfilled.
Besides being a trusted partner of a number of multinational companies, LeTran is an active member of the legal community and is on the cutting edge of developments in Vietnam’s contract law. This has included the successful completion in October, 2019 of the workshop/seminar “Commercial Contracts – Pitfalls” which provided practical information and advice to foreign and domestic businesses regarding contract negotiation, drafting and enforceability.
Do you need help with contract law issue? Please book an Appointment or Contact Us.