Commercial Contract Review

Herrington Carmichael has a team of experienced commercial lawyers who provide a combination of legal expertise and pragmatic commercial awareness.

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Contract Reviews

A Commercial Contract Review is an effective way for your business to review commercial contracts quickly and cost effectively based on a review of the most fundamental provisions.

What are the benefits of a Commercial Contract Review?
By reviewing specific terms of your key contracts, costs can be reduced. As the saying goes, an ounce of prevention is worth a pound of cure.

  • By identifying legal blind spots and implementing workarounds leads to smart working.
  • By identifying legal risk in a business, actions can be implemented to reduce exposure to financial risk such as fines for noncompliance, damages for breach or damages from claimants.

After receipt of your contract(s) from you, we would deliver the high-level report within 2 business days after receipt of our signed engagement letter etc.

What’s the cost of a Commercial Contract Review?
We will provide the above service on a fixed fee basis up to the point of providing you with the redline report.

  • NDA – £250 + VAT
  • Contracts up to 15 pages – £400 + VAT
  • Contracts 16 – 30 pages – £550 + VAT
  • Contracts 31 pages and above – £750 + VAT

FAQs

What’s included in a Commercial Contract Review?

Reviewing the contract and preparing a high-level report in relation to the key legal risks associated with the contents and omissions of the contract. It is a high-level review rather than a full review, focussing on key issues rather than providing a full contract commentary. A few examples of clauses we would review would be:

  • Term
  • Limits of liability
  • Confidential Information definition
  • Confidential information not covered
  • Change of control
  • Governing law
  • Jurisdiction

All reviews will be done from a commercial law perspective and all advice is from an English law perspective only. If a contract is governed by foreign law, then local advice is recommended.

How quickly will the Contract Review be provided?

After receipt of your contract(s) from you , we would deliver the high-level report within 2 business days after receipt of our signed engagement letter etc.

Is the Commercial Contract Review suitable for all situations? 

The service is not suitable for all situations. For example, if you would like a full or detailed commentary on a contract, the service may not be appropriate. We would be pleased to discuss with you on a case-by-case basis.

 What contracts will not be reviewed?
  • Property e.g. leases or sale of property
  • Employment e.g. full-time, part-time, fixed term, internships or freelancer contracts
  • Immigration related contracts
  • Corporate contracts e.g. shareholder agreements, business purchase contracts, articles of association, share buy-back agreements, share scheme documents
  • Pension related contracts
  • Litigation documents or contracts e.g. letters of claim or court documents
  • Insurance policies or associated documents
  • Banking and finance e.g. bonding, loan, deposit or factoring contracts
  • Franchise contracts

Meet the Team

Related expertise

Best Law Firms 2024

Herrington Carmichael has once again been named in the Times Best Law Firms. We were first listed in 2023 and have once again made the Best Law Firms list for 2024.

www.thetimes.co.uk/article/herrington-carmichael

Best Law Firm 2024