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Risk-based contract drafting and review is an essential aspect of establishing agreements that reduce the risks to the parties to the contract, as contracts control their rights, obligations and relationships. Whether in startup contracts or companies in general such as partnership contracts, acquisition agreements, business transaction contracts, labor agreements, or contracts in the real estate sector.
The contract drafting process requires precision and attention to detail taking into account legitimate and financial risks. Here are the things we consider in the contract drafting journey:
The first step is to identify the parties involved, their roles and goals.
It is necessary to define the rights and responsibilities of each party and the purpose of the contract to ensure that the Convention accurately reflects their intentions.
Contracts must clearly define the terms and conditions, including scope of work, responsibilities and roles, terms of the parties, financial matters, dispute resolution mechanisms etc., and ensure that they do not violate standards and solutions in case they violate standards. Clarity, accuracy in wording and fine detail help prevent misunderstandings and conflicts.
Contracts must take into account the international Shariah standards necessary to ensure that they comply with Shariah standards. Our Sharia advisors need to ensure that the terms reflect adherence to Shariah standards, which enhances investor confidence.
When drafting contracts, our specialists analyze the potential financial risks that may arise during the execution of the Agreement. Understanding the circumstances of the contract and the risks surrounding the business, the limits of liability and rights, and the exposures of risk are necessary to manage risks and protect the interests of the parties.
Contract review involves a thorough examination of the agreement between the contract and the required criteria, language proofreading, wording accuracy and others that are critical to ensure accuracy and consistency, as well as review by a sectoral expert to avoid sector-specific risks or ambiguity. Our experts check for errors and ambiguities that may affect the enforceability and interpretation of the contract.
The drafting of a contract often involves negotiating between the parties to reach an agreement that satisfies all parties.
Our contract experts play a key role in facilitating these negotiations and addressing concerns to achieve a balanced agreement that meets everyone’s needs.
To ensure that your contracts are properly drafted, it is always advisable to hire a specialist expert. You can obtain contract drafting services and contract review and auditing from our team, which includes a group of international consultants with experience in drafting and reviewing contracts, ensuring your contractual rights and contributing to reducing disputes and reducing risks.