A commercial contract is a legally binding agreement defining the terms and conditions for exchanging goods or services between two or more parties. They lay down the rules of engagement for various business transactions, including the sale of goods, provision of services, joint ventures, licensing, franchising, or distribution agreements.
A well-drafted commercial contract provides legal protection to all parties involved. It ensures vendors, customers, and partners understand their obligations and the consequences of failing to meet them. In this blog post, we will delve into the intricacies of commercial contracts, their importance, key components, and common pitfalls to avoid.
