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The negotiations were successful. The parties negotiated the terms of the deal, agreed on a price and came to a common denominator. What next? As in recent years most business negotiations have been taking place online, the completion, or rather the execution and signing of the contract has to be done after the video conference is switched off.

Very often, verbal agreements are converted into a one-page supply agreement, and once the agreement is signed, ownership of the goods is transferred from the seller to the buyer. A transaction executed in this way does not fix the responsibilities of the parties and their risks. And the contract itself is not a sufficient legal basis and does not allow the rights and interests of the owner and his business to be fully asserted.

To consolidate the intentions, describing certain conditions and future legal relations, help to prepare a well-prepared contract, which must contain such items as: price, scope of supply, terms and conditions of payment, responsibilities of the parties, principles of the transaction, risks. In case of discrepancies such an agreement becomes a proof that the parties have actually negotiated the deal.

PAnDiKubiz consulting company advises the parties to the contract and assists in the preparation of documentation in which it describes in detail:

• the parties and the subject matter of the transaction to be concluded in the future
• the conditions to be fulfilled by the parties before the conclusion of the main contract
• the time frame within which the parties must conclude the main transaction

PAnDiKubiz Cyprus specialists check counterparties for cleanliness, financial stability and legal integrity. The use of a scoring model with the assignment of risk factors to each factor greatly increases the efficiency of the risk assessment process and helps to make decisions based on facts and data.

A fair allocation of risk is at the heart of a sound commercial relationship. The choice of form of contract depends on the specifics of the subject matter of the contract and the degree of risk. We have the best lawyers working with us, so all contracts we recommend are legally reviewed and comply with the law.

Contracts involving complex goods or services may require detailed specifications and individual terms. In such cases, we draw up an individual contract or offer to conclude a framework agreement.

Similarly, high-risk contracts, such as those with significant financial or reputational implications, may require complex risk-sharing arrangements and dispute resolution provisions. To mitigate procurement risks, a more complex form of contract may be required: a performance bond or insurance policy.

PAnDiKubiz consulting company provides contract support to the customer as follows:

• Initial consultation: studying the subject matter of the contract, requirements and objectives, specifying the terms and conditions to be included in the contract.
• Contract review: study of existing contracts, analysis of potential problems.
• Selection of the contract form: after analyzing the subject matter of the contract and the degree of risk, we propose several contract options. The chosen contract is discussed in detail with the client.
• Contract: based on the information obtained during the initial consultation and analysis of similar practices, our company prepares a draft contract, which is agreed by the parties in person or by correspondence.
• Legal expertise: PAnDiKubiz Cyprus lawyers review the contract to ensure that it complies with current legislation and protects the client's interests.
• Negotiations: amendment or modification of the contract, negotiation of terms
• Signing the contract: after careful review and negotiation, the client and the contracting company sign the contract, ensuring legal protection for both parties.
• Follow-up support: the company can provide follow-up support to the client in case of questions or problems during the execution of the contract.

PAnDiKubiz is a team of professionals. We help our customers understand complex issues, assess risks and make the best decision, optimize business processes and improve the efficiency of their operations.