DRAFTING CONTRACT AGREEMENTS IN NIGERIA

Commercial agreements with contractors, consumers, clients, customers, employees, service providers, business associates and partners, whether simple or sophisticated commercial transactions are governed by the mutual promises generally regarded as contract between the contracting parties.

As legal professionals, we use our legal expertise to turn these mutual promises into a legal document that is enforceable. It is not advisable for a person without legal expertise to draft a commercial agreement or download one from the internet as this can be counterproductive in the long run as you may end up with a document with grave legal consequences or a document that is not legally enforceable in case of dispute or a breach of the agreement.

It is nothing but pure business naivety to do business solely on trust without a written contract. Business savvy entrepreneurs do not do business without a written contract prepared or reviewed by a business minded Solicitor. A well-drafted written contract is a business tool used to safe guard   investment of resources. A well-prepared written contract creates a legal relationship, which enables a person to whom money, goods, services, or some other benefit has been promised to enforce the promise or obtain a remedy for its breach.

A poorly written agreement may result in costly litigation. At the least, it can lead to heated disagreements over the interpretation of provisions in the document. This is not only time consuming, but also detrimental to a good working relationship between the parties.

Above all, I discovered from my experience that, many of the details that will be in the agreement will not even be thought about or discussed until the written document is reviewed. It pays therefore to be the one to prepare the written agreement, and that quite simply is to be sure that you, rather than the other party, determines what goes into it. It is naïve to conclude that since you were careful enough to summarize the essential terms of the agreement, that it then becomes immaterial who actually prepares the written agreement.

Ultimately, it is what is put down on paper and signed that counts, not what someone thought they agreed to. If you are the one who writes the agreement up, then it is your interpretation of what was agreed to that goes into the agreement, however, that does not mean you can change the essence of the agreement, but it certainly gives you the latitude to define the direction of the written contract.

DRAFTING CONTRACT AGREEMENTS IN NIGERIA is a legal illumination of AKINTUNDE ESAN known as The LEGAL ADVISER ONLINE. Akintunde Esan is the Managing Partner & Principal Consultant @ ASE OLODUMARE CHAMBERS (Legal Practitioners/Consultants & Chartered Mediators)

You can contact Akintunde Esan or Ase Olodumare Chambers for further information on the drafting of commercial agreement for :

• The provision of technical, consultancy, engineering, logistics, management, maintenance or agency services in the energy, power and oil and gas sector, hotel and hospitality industry and information communication technology contracts.

• The manufacturing, distribution, branding, marketing and sale of goods.

• The carriage of goods by air, sea and land.

• Outsourcing, trademark or copyright licences, agency, equipment leasing, power of attorney, dealership, equity investment, debt finance and hire purchase.

• Joint venture project development, technology transfer, construction, partnership, franchises, banking, employment, insurance, company law, partnership and a host of other commercial transactions.
    
        
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