Better Contracts Podcast

Global businesses often seek a streamlined approach to contracting by adopting standard contracts wherever they do business.  This episode explores why local law differences should still be taken in account and how the type of contract can also be a factor in the degree to which a standard approach is possible.  Differences in law are nothing new but recent global events have upset the balance of risk in many multinational contracts.  Inflation, supply chain issues, geopolitical conflict, climate change and the rise of ESG considerations have attacked a balance often already under strain post Covid. 

Good contract drafting allows parties to adapt to these challenges. Strong governance mechanisms support flexibility.  For international contracts in particular, ensuring effective recourse should a dispute arise also becomes key. 

In this episode Mark Dewar, Lauren Hurcombe and Khaled Dadi explore these issues from their jurisdictional perspectives in the UK, Asia and EU.  Current contracting trends are flagged together with tips on how to avoid common pitfalls.

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Every court, wherever they are in the world, sets limits on the types of losses which can be recovered following a contract breach. Following the general principle that a wronged contract party should be reasonably compensated without the breaching party being exposed to unlimited risk, how do different courts deal with this in practice? Do they use the same terminology? What are the common pitfalls?

John McKinlay, Kristof De Vulder and Neo Hwee Yong discuss how courts in the UK, Europe and APAC define these terms and highlight some practical issues to be aware of when drafting and negotiating contracts.  

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What does using “best endeavours” or doing things “in good faith” actually mean?  During contract negotiations, absolute obligations are often watered down by a range of terms from “best endeavours” to “commercially reasonable efforts” but what effect do these words have? How strong is the obligation in each case and is the meaning clear?

The answer often depends on where you are and how the local courts have interpreted these words before.  So, should we be describing a contractual obligation in this way or is there a better way to do it? 

In this episode of our Better Contracts series, Chloe Forster, Diego Ramos and Nick Boyle look at a variety of commonly used drafting terms and how choosing particular words can affect the enforceability of the resulting contract in the UK, Spain and Australia.

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The biggest challenge currently facing all sectors globally is supply chain disruption. A perfect storm of post-COVID recovery spurring demand coupled with a lack of resources, the war in Ukraine, rising prices and energy costs mean suppliers are under pressure across the board. 

How are their contracts stacking up? One thing’s for sure – long, fixed price contracts are a thing of the past.  What can suppliers and their customers do in the face of such uncertainty? In this bumper episode to launch our new Better Contracts podcast series, Greg Tulquois, Thilo von Bodungen and Paddy Dwyer look at how companies can adopt a pragmatic approach to managing their supply contracts and how the law in France, Germany and the UK might help them.

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