Business is the best place to follow your dreams whatever their type, and every step in the business field requires good skills and knowledge and simply a contract that can clarify rights and duties of each shareholder. This is not the only benefit of the contracts, as it can manage relationships in the business and regulate all the financial items. So, why do you need a draft contract between two parties service? That’s what we are going to discuss in this article.
What is the draft contract between two parties?
Draft contract between two parties is a preliminary version of a legally binding agreement between two parties. This preliminary contract aims to clarify terms, conditions and regulations that control the relation between two parties before the final version of the contract is signed. Simply, a draft contract can help in the review and negotiation of the different details related to the financial and legal conditions of any business before issuing the final version of the contract.
What are the benefits of the draft contract between two parties?
Preliminary version of the contract or draft contract can help you to get a lot of benefits as follows:
- Identification of the different responsibilities of each party.
- Legal compliance, as contracts are required for legal compliance in Saudi Arabia for business dealings to comply with regulations.
- Legal protection, as it is one of the basic benefits of the contracts to give both parties the required legal protection for their rights and duties.
- Payment rules, as it is the most important point benefit you need to get from contracts is to save the rights of both partners regarding financial issues.
- Avoiding ambiguity, as the contract can clarify rights and duties clearly, and remove any ambiguity that may appear with verbal agreements.
What are the main points of the draft contract?
As we mentioned before, contracts are important for legal compliance so a contract needs to fulfil some necessary requirements as follows:
- Data of the two parties.
- Financial conditions.
- Subject of the contract, which describes the working field of the contract.
- Conditions that should be applied during force majeure, and unwanted conditions.
- Responsibilities and obligations of each part.
- Timeframe of the contract, you need to refer to its beginning date and its ability for renewal.
- Termination method of the contract.
- Signature of the 2 parties.
These are the main points that need to be listed in each contract in different types of contracts, but there are different points that need to be added to the contract according to the commercial activity practiced.
What are the different types of draft contracts?
- Sales contract.
- Service contract
- Partnership contract.
- Real estate contract.
- Loan contract.
- Agency agreement
- Employment contract.
- Franchise contract.
- Joint venture agreements.
Mousa & partners services
With Mousa & partners legal office, you can get the legal advice you seek. All you need is to begin your business and consult Mousa & partners about your legal issues. You can get consultations and services as follows:
- Company services, as Mousa & partners can offer a lot of services in this field like transforming companies from limited liability companies to closed joint-stock companies and transforming companies from limited liability companies to publicly listed joint-stock companies.
- Issuance of Capital Market Authority licenses and Central Bank licenses.
- Establishment of foreign companies (foreign investments)
- Arbitration in international and local commercial disputes.
- JV agreement, which can help you with your business partnerships.
- Corporate Governance for Joint-Stock Companies and Family Businesses.
Common questions about draft contract between two parties service
Why do you need legal help to make a draft contract between two parties?
You may need help to make a draft contract between two parties to be aware about legal terms and conditions that regulate different points in the contract and in the different laws regulating the commercial activity you intend to do.
What is the exact type of contract I need to make?
Choosing the most suitable draft contract will depend on the activity you intend to do. You will need to get legal consultation to be able to choose the best draft contract between two parties.
Contact Mousa & partners legal office to make a draft contract that can save your rights and help you maintain the growth of your business, with a group of excellent legal consultants in the field of commercial law.
Reserve your free consultation with Mousa & partners legal office
Do you need to begin your business but you need to get a legal consultation ? Get a free consultation with a great legal team who can give you the best legal advice to begin your business without any complications, and get the highest benefits from the encouraging investment climate in Saudi Arabia. Visit our website, and get your free consultation, with the best legal team.
Contact information for Mousa & partners legal office
Address: Floor H, Building 407, Zone 4, King Abdullah Financial District (KAFD), Riyadh, Saudi Arabia
Phone number: +966505898510
Email: info@mousalegal.com
Working time: everyday from 9 AM to 5 PM, except Saturday and Sunday from 10 AM to 6 PM.
Why to contact Mousa & partners legal office for making your draft contract?
Draft contract is a critical point at your work, whatever your business type, and making this critical point can clearly define your responsibilities and save your rights and partners right as welا ،Contact Mousa & partners legal office, and consult our most experienced legal team.
Contract is the most important thing that maintains rights and responsibilities of all related parts, and with this importance of contracts, you will need a strong draft contract who can clearly define your rights, your responsibilities and different conditions that regulate different activities performed in the contract. Of course making a draft contract between two parties will need legal advice to be perfectly made.