Contract review is the process of thoroughly examining a Contract or Agreement before signing, to ensure that all terms are clear, fair and legally sound. It involves identifying and understanding risks, obligations and rights within the agreement.
Contracts govern business relationships, and reviewing them helps prevent misunderstandings and legal disputes. A well-reviewed contract provides clarity, protects your interests and ensures compliance with applicable laws.
A proper contract review:
✓ Prevents disputes by ensuring all terms are well understood.
✓ Protects against unfavourable clauses and hidden liabilities.
✓ Helps you negotiate better terms.
✓ Reduces risks by identifying issues or liabilities.
Consequences of Not Reviewing a Contract:
× Exposure to unfair terms.
× Risk of breaching unclear contractual obligations.
× Hidden clauses that may impose unexpected duties.
× Regulatory non-compliance leading to legal sanctions.
× Inability to enforce rights due to vague or missing terms.
A Business/Corporate Lawyer has the expertise to identify legal gaps, ensuring contracts are solid; negotiate better terms that safeguard the client’s interests; ensure compliance with applicable laws and regulatory requirements; provide legal remedies in case of breach of contract and
offer strategic advice on risk management and dispute resolution.
__ APEX CHAMBERS, Business/Corporate and Property/Real Estate Lawyers, Attorneys, Barristers , Solicitors, Advocates, Legal Practitioners, Legal Consultants and Notary Public with 18 years experience and Law Office in Port Harcourt, Nigeria.