Commercial Contracts

[3Dee]

Oh, this is getting sticky!

Rang my friendly Lawyer about some contract paperwork sent over by a prospective customer, asking for a review, but he declined - sent it to his 'expert' who also declined, but suggested that he show it to a barrister - BUT it is a US originated contract from a massive company, so the impression was that the barrister may not be able to comment either!

Oh and if he did, it would cost would be 500-1k - whaaaa?

I didn't know that trading with the US was so ...errr rare and exotic?

Ideas on a postcard please... this is urgent!

[V8mate]

Sounds about right for 2-3 hours work by a commercial barrister.

[3Dee]

So who do others here use?
Any recommendations?

[insurance_jon]

is it under US or UK law?

[therealpigdog]

• What's the subject matter?
• What's the risk involved?
• What's the timescale?
• UK or US law (which state)?
• How detailed a review is it that you are after?

If you want to rely on a solicitors' advice (and therefore indemnity insurance) then you've got to pay them to do a proper job. £500-1,000 seems pretty reasonable if it's a relatively standard contract in a relatively risk free industry - add more complexity and/or risk and the price will go up. If you are baulking at that, then I'm not entirely surprised that it's being passed around like the proverbial hot potato.

[Soovy]

3Dee said:

Oh, this is getting sticky!

Rang my friendly Lawyer about some contract paperwork sent over by a prospective customer, asking for a review, but he declined - sent it to his 'expert' who also declined, but suggested that he show it to a barrister - BUT it is a US originated contract from a massive company, so the impression was that the barrister may not be able to comment either!

Oh and if he did, it would cost would be 500-1k - whaaaa?

I didn't know that trading with the US was so ...errr rare and exotic?

Ideas on a postcard please... this is urgent!

£1k is reasonable - if you want a proper job backed by negligence insurance.

If it's US Law, find a US firm with a London office.


Also the questions below are pertinent. If it's a contract for provision of bog cleaning then fair enough, but if it's a contract for £50m then you have to expect to pay a decent fee because of the downside risk to the adviser!

[bga]

£500-£1000 legal review per contract is reasonable to me. We spend that on lawyers fees for most of our overseas and UK contracts. We use local legal firms to do the work.

[3Dee]

OK so its reasonable then.

It is an IT project (first of many we hope) in the US for this particular customer, but we don't have to be there - t'internet is a wonderful thing!

I have talked to a Barrister this arfty, and he said it would have to be looked at by a US lawyer...

..and yes, we have to have indemnity insurance for the USA. Our current Insurance won't work outside the EU.

Strangely, we have done work for even the US govt before, several times, but they have never asked us to sign anything... times are changing methinks!