What is a commercial contract?
It is an agreement between two or more parties to a business transaction. Commercial contracts govern the various obligations that the parties owe each other and often have provisions on how to resolve any disputes between the parties.
In drafting commercial contracts, your lawyers will take into consideration the industry standards, consider the potential conflicts that could arise during the lifetime of the party’s relationship and build clauses into contracts outlining how these issues need to be resolved.
Why SettleHub
Commercial contracts often have very little protection from the law, as it is the position of the courts that private parties should be free to enter into contracts of their own accord.
Our lawyers are experienced in working across multiple jurisdictions and for clients of all sizes. Regardless of if you are a start-up or a large private company, our lawyers will assist you in securing your commercial arrangements.
At SettleHub, our contract attorneys will carefully evaluate the business relationship you propose to enter and advise you of the unforeseen dangers. We will research the minimum service level guarantees applicable to your industry and assist in drafting agreements that will save you time and expense down the line.
Our experts can help you with drafting:
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Employment contracts
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Joint venture agreements
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Shareholder agreements
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Unitholder agreements
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Supplier agreements with service level guarantees
Should the audit reveal a deficiency in meeting the regulatory standards, our lawyers can assist in negotiating a minimal penalty with the relevant department.
Regulatory compliance audits
As small business owners, it is often difficult to keep in touch with the rapidly changing regulatory landscape. In some instances, you may find yourself being audited by either a state or federal department. Our lawyers are well versed in the various rules and regulations imposed by government agencies on small businesses and are able to help you comply with audit requirements.
If the audit reveals significant non-compliance with the regulator's standards, it is likely that the regulator may commence litigation against your business. Our team of experts at SettleHub can assist you in crafting a defence strategy and working towards minimising the potential adverse consequences of the litigation.
FAQs on Business compliance advisory
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It is an agreement that governs the relationship between the business and its employees.
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In Australia, most employees fall under a Fair Work Australia modern award, which provides the minimum employment conditions for employees in a range of industries. Therefore, it is important to have this in mind when drafting your employment contracts.
- Joint ventures are often short-term projects between two parties. Joint ventures are typically common in property development projects. An agreement documenting the joint venture will assist the parties in governing their respective obligations throughout the duration of the project.
- A shareholder’s agreement is a legally enforceable contract between a company's shareholders that governs the shareholders' relationship. The agreement also defines who controls the company, how the firm will be owned and operated, how shareholders' rights can be safeguarded, and how shareholders can depart the company.
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A unit trust's beneficiaries have a fixed stake in all property subject to the trust. A unitholders agreement is a contract between the unitholders and the trustees of a unit trust. This agreement specifies the terms under which the trust will function.
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This agreement creates and maintains rules of engagement for unitholders. It tackles issues that are not addressed adequately or explicitly in the unit trust deed. The agreement is a proactive effort to prevent uncertainty, conflict, and delay if unitholding parties have differing perspectives.