Webinar on Best Practices When Structuring Contracts

The team at Ivy Law participated in a webinar on "Best Practices When Structuring Contracts'', conducted by Manupatra. The webinar highlighted the relevant aspects of structuring a contract, in order to boost results with lower costs, obligations and increased efficiency. Adherence to best practises through different stages of structuring a contract were deliberated upon, which consisted of pre-contractual preparation with a clear objective, the attributes to be kept in mind while engaging with business partners or service providers, the importance of contract review and attention to detail, along with negotiation techniques. Aspects pertaining to contract management and the possibility of re-negotiating contracts was also discussed. Emphasis was laid on common mistakes that occur while drafting contracts. Important provisions such as force majeure, doctrine of frustration, business continuity plan and disaster recovery, which have come under focus as a fallout of the pandemic were also addressed.