Commercial Contract

We met with the client to take their initial instructions and to review the suggested heads of terms.

This client had agreed provisional heads of terms for the provision of services to a prominent local firm.

We met with the client to take their initial instructions and to review the suggested heads of terms. Based on those instructions, we drafted a consultancy contract which provided for, amongst other matters, the following:

• A precisely defined scope of services to be provided by our client
• The payment mechanism, which included provision for the early termination of the agreement in the event that payment was delayed
• Retention of intellectual property rights by our client
• A limitation of liability on the part of our client
• A termination clause, which included scope for either party to notify the other of an alleged breach before proceeding directly to termination
• A dispute resolution clause, which chose the DIFC as the venue in the event of a dispute

The benefit of this contract is that it captured the entire agreement between our client and the local firm in a clear and unambiguous manner, thereby minimising the scope for dispute between the parties at a later stage.