4th National Workshop on Drafting of Commercial Agreements

29^thDecember, 2012, Hyderabad, India – The 4th National Workshop on Drafting of Commercial Agreements is being held at Hotel Casa Luxurio, Banjara Hills, and Hyderabad Today. The event is hosted by the ASSOCHAM a well Known Industry Body related to important ingredient clauses in commercial agreements to concentrate on drafting the necessary clause and analysis of relevant precedents to draw attention to the pitfalls / commonly made mistakes in drafting a commercial agreement. 

Hon’ble Former Justice T. N. C. Rangarajan, Andhra Pradesh High Court in his Inaugural Address said that, “Commercial Contact represents a combination of commercial, financial, technical and legal factors for business and organizations, the key requirement is to ensure that the legal arrangements allow the full commercial benefits to be realized. In the day to day course of business, regardless of the size of operation, it is fundamental and documents business relationships”. 

In India, the Indian Contract Act 1872 is the backbone of Commercial Contacts, which provides a framework within which a contact may be entered into, executed, performed and enforced. The right and duties of parties and terms of agreements are decided by the contracting parties themselves. The court of law acts to enforce the agreement, in case of non-performance.

He further added that, “There goes lot of money & time in costly litigations & precious time of courts and given a suggestion to corporate should first use the Arbitration forum as it may save much of their time, costs, trade bitterness and precious time of the courts”.

Speaking on the occasion, Mr. Nirmal Kumar Pandey, Sr. Vice President-Corporate Law, Gati KWE that “every sales & legal people must be having knowledge of commercial agreements”.

Other who spoke include Mr. R. Vijaynandan Reddy, Mr. Shujath Bin Ali, Mr. J L N Murthy, Mr. Venkatesh Prabhu, Mr. Chandrakant Kamdar, Mr. Jasmeet Wadehra and Mr. Karan Talwar over headed 125 delegates representing large corporate house, public sector undertaking, practicing Advocates and in house counsels attended the conference.

Mr. R. K. Bhasin, Joint Director of ASSOCHAM thanked the panelist and the participants for their overwhelming response.