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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