How to Resolve a Contract Dispute
Running a business can leave you open to legal claims and disputes, even when you think you have covered all the bases. This can be particularly true when working with contracts. Contracts are everywhere in business from supply agreements to agency agreements, franchise agreements, consultancy agreements and contracts of employment.
With each type of agreement there is room for disputes to arise and they can start with the smallest of issues all the way up to breach of contract disputes. The sooner a dispute is dealt with, the better for your business.
Depending on the contract dispute and your relationship with the other party you may want to approach them informally and talk about the issue before taking any official legal steps and it is worth speaking to a solicitor before you do this.
The issues you may face are slightly different depending on whether you are disputing the terms of someone else’s contract or someone is disputing yours, but either way it is important to get legal advice from a commercial dispute specialist as early as possible.
Talking to a lawyer will help you gain the perspective you need to decide whether to fight the dispute or simply settle it. Your contract dispute may be worth a large sum of money, if this is the case you will want to see it through. It is therefore important to understand what the contract says as this will be the key to the success or failure.
In certain circumstances you may be able to break a contract without penalty if the other party is in breach. This could prove very useful but you should always take legal advice before exiting a contract or else you may face financial consequences or even legal action.
Whatever the contractual dispute you are facing, it is crucial to get independent legal advice before taking any other action in order to protect your business.
For further advice on commercial claims and disputes, contact one of our specialist company lawyers at FSM Solicitors.