In a market economy, a business engages in numerous transactions with various parties on a daily basis, such as partners, suppliers, customers, employees, and others. These transactions are governed by agreements between the involved parties, specifically in the form of contracts.

A contract is a document that reflects the will and intentions of the parties in the most detailed and comprehensive manner. It is the best way to minimize disagreements and disputes between the parties. In cases where disputes cannot be resolved through negotiation, the parties are compelled to bring the matter before a court or commercial arbitration. In such instances, the contract serves as the basis for adjudication and judgment.

However, it is a common reality that when a business encounters difficulties in performing a contract and seeks legal intervention, they are often shocked to realize that the contract is highly unfavorable to them or even partially or wholly invalid (i.e., lacking legal effect). This is because the business overlooked consulting a lawyer to review or draft the contract before entering into the transaction. So, why not invest a little time and resources in hiring a lawyer to draft and review your contracts to avoid significant financial losses, wasted time, and missed opportunities later—especially when disputes arise?

As a long-established law firm, we have encountered numerous clients in distress due to disputes—disputes that could have been avoided had there been a legally sound agreement between the parties. Resolving disputes is the last resort; it is costly, exhausting, and time-consuming. Meanwhile, the first step you should have taken is to ensure a well-drafted and robust contract. 

Above is an article sent to you by Globalink’s team of legal experts. Globalink hopes that it has partly helped you solve the initial problem.

In case you or other readers still have other questions, please contact Globalink’s legal team via the following information:

Hotline phone number: 0908.173988 – LLM. Vu Quyet Tien (Attorney)

Email: Tienvu.globalinklaw@gmail.com

Or go to the Company headquarters: 67/4 Hoang Hoa Tham, Ward 6, Binh Thanh District, Ho Chi Minh City

Transaction office: 656/47 Đ. Cach Mang Thang 8, Ward 11, District 3, Ho Chi Minh City, for more specific advice and guidance from us.