Credit crunch increases risk of defaults due to poorly written terms and conditions contracts
Released on: July 1, 2008, 3:25 am
Press Release Author: Andrew Taylor
Industry: Law
Press Release Summary: As the credit crunch takes hold on more and more commercial arrangements, those business practices not covered by traditional 'mainstream' legal documents are at greatest risk of payment defaults or contracts being called into question, according to lawyers at Net Lawman. Bespoke drafting of all legal documents is the only way that niche businesses can ensure they are fully protected against potentially damaging litigation, warns Miriam Taylor
Press Release Body: For an increasing number of businesses whose terms and conditions are not considered 'mainstream' or typical, problems can occur if the legal contracts and terms and conditions in place aren't completely fit for purpose. And for niche businesses those whose specific terms are not explicitly stated in their standard terms of business, the risk of experiencing defaults or delays is even higher as people are more likely to highlight loopholes in the agreements as a means of delaying or avoiding payment.
But businesses can ensure they are prepared for this risk by simply ensuring that all legal documents are drafted specifically for the needs of the business argues Miriam Taylor from Net Lawman, a company specialising in providing legal drafting services for all types of business arrangements.
"Most standard documents are designed to cover typical contractual situations and there will inevitably be businesses for which these documents do not protect them from dispute completely. Typical businesses that fall into this bracket can include dating agencies, members clubs, organisations with various debt repayment, conditional loan and convertible loan agreements and also includes confidentiality agreements and reseller agreements" advises Taylor.
"If any aspect of your business is unique or unusual, it is strongly advisable to have your documents drafted specifically to meet your requirements. Using an online provider of legal drafting services is by far the most cost effective approach and many documents can be drafted from scratch for less than 250" adds Taylor.
For more information regarding online legal advice, documents and drafting services visit http://www.netlawman.co.uk?sc=818
Web Site: http://www.netlawman.co.uk
Contact Details: Astons Barn North Green Road Pulham St Mary Diss IP21 4YF United Kingdom PH NO: 441379608002 webmarketing@netlawman.co.uk
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