Agreement Review Checklist: Things to Look Out for Before Signing in Dubai
Most people quickly read an agreement and sign it. They may not notice any serious issue. This may seem fine at first. However a problem can appear later. A payment term or a missing termination notice may not seem important. You may only notice its impact when you need it. By then the agreement may already be binding.
This agreement review checklist covers the key points you should check before signing an agreement. It can apply to a service contract. It can apply to a lease. It can apply to an NDA. It can also apply to a partnership agreement. Spending 15 minutes on a review now can save you from a long legal process later.
An Agreement Review Is Important Because
UAE law does not require many things for a contract to become binding. Both parties must agree to the main terms. The subject of the contract must be lawful and clear. The purpose of the contract must also be lawful.
This means a clause can still apply after you sign it. Courts will not usually change an agreement just because one party later finds the deal unfair or unsuitable. The best time to raise concerns is before you sign.
The Agreement Review Checklist Helps You Review Your Agreement
1.Make Sure You Are Signing With the Right Person
Get the other party’s full legal name. Do not rely only on the trade name or brand name shown on a website.
If a company signs the agreement check whether the person signing has the right authority. A person without proper authority may create legal problems for the agreement later.
2.Carefully Read the Scope of Work
The agreement should clearly explain what each party must provide or do. Avoid unclear terms such as standard services or as required. Clear wording helps both parties understand their duties. It also reduces the risk of a dispute later.
3. Make Sure the Payment Terms Are Correct
Check the payment amount. Check the currency. Check the payment schedule. Check what happens if a payment is late. Also check whether you must pay VAT. A mistake in the payment terms can create an unexpected cost.
4. Check Timelines and Deadlines
Check all important dates in the agreement. This includes delivery dates. It also includes renewal dates and notice periods. Missing a notice period can cause problems. You may even have to continue with a contract for longer than you wanted.
5. Pay Special Attention to the Termination Clause
Check how either party can end the agreement. Check the required notice period. Also check whether the agreement includes an early termination fee. A contract with no clear exit can make it difficult and costly to end the relationship.
Read the Liability and Indemnity Provisions
These clauses explain who is responsible when something goes wrong. They also explain how much each party may have to pay. Pay close attention to uncapped liability. Speak with our lawyers before signing if the agreement includes this type of clause.
Check the Confidentiality Terms
Review the Confidentiality Terms
If the agreement involves sensitive information check what information the clause protects. Check how long the confidentiality duty will continue. Also check what happens to the information after the relationship ends.
Confirm the Governing Law and Dispute Resolution Clause
Check which law applies to the agreement. Also check how the parties must resolve a dispute. The agreement may require court action. It may require arbitration or mediation. Check where the dispute must be handled. This clause becomes even more important when the agreement involves parties from different countries.
Search for a Force Majeure Clause
Check what happens if an unexpected event makes it impossible for a party to perform its duties. A force majeure clause may explain how the parties should deal with such events. Make sure you understand what the clause covers.
Ensure Signatures and Execution Requirements Are Fulfilled
Make sure everyone signs the agreement correctly. Check the date and check whether witnesses are required. Some Agreements Drafting Services may also require notarisation or other legal procedures. Real estate agreements can have specific requirements in the UAE.
Common Mistakes People Make Before Signing
People often make the same mistakes before signing an agreement:
- Assuming a standard contract does not need a review
- Signing too quickly without reading every clause
- Relying on verbal promises that do not appear in the agreement
- Forgetting to check renewal or auto-renewal terms
- Failing to check whether the person signing has the proper authority
GS Advocates Can Help You With the Following
Our agreement review service goes beyond checking spelling mistakes. Our lawyers look for terms that may create risk. We also look for unclear wording and missing details. Our lawyers can identify points that you may want to negotiate before you sign. This can help you avoid a dispute later.
Agreement Drafting Services
If you already have an agreement that is causing a disagreement our lawyers can review it. We can explain what the agreement means and help you understand your next steps.
Contractual Dispute Lawyers in Dubai
If you do not have an agreement yet our lawyers can help you create a new contract.
Contract Drafting Lawyers in Dubai
Our lawyers can help you prepare a clear contract that explains the rights and duties of each party.
Frequently Asked Questions
Should I obtain a Lawyer to Review a Basic Agreement?
Not all deals have to be signed by a lawyer. When it comes to payment, however, legal counsel should be sought. Also, don’t overlook this if the arrangement includes liability and/or a long-term commitment. It can be helpful to have a quick review of the contract so you can see a clause you might otherwise overlook.
What’s the Difference Between an Agreement Review and Contract Drafting?
An agreement review is the review of a contract prepared by another person. Drafting a contract is the process of developing a new contract from scratch. The two services are both concerned in safeguarding your legal rights and ensuring that the terms are understandable.
What if I signed a contract without reading it thoroughly?
There may be a possibility for an agreement to remain valid after you have signed it. Our lawyers can look over the agreement and inform you on the choices that you have to make. In some instances, you might be able to object to some matters or make a compromise with the other party.
When is Agreement Review due?
The time is dependent on the document. Our lawyers can quickly assess a brief agreement in a shorter time. The longer the contract for the business, the longer it will take. It may also need to be reviewed again to ensure that all of the key terms are included.
What Is the Time Frame for Agreement Review?
The time depends on the document. Our lawyers can review a short contract within a shorter period. A longer commercial contract may need more time. It may also require a second review to make sure we cover the important terms.
