What is the pre-contract agreement?

A situation wherein two or more parties decide to work together in a legal manner and to make sure that contracting parties may not differ or disagree later after the execution of the contract. The pre-contract agreement plays a role between the contracting parties to make them understand the interaction, opportunity,     and the intent of deal at an earlier stage before entering any contract.

Why pre-contract agreement is important?

Before entering any contract, it is important to know the intent, scope, and nature of work and the relationship between the parties at an early stage. This agreement outlines the framework of the relationship between the parties and clarifies their intention before entering a contract. Thus, it creates a general understanding of what each party ‘gets’ out of the relationship.

EuroMea Legal Services works in a highly proficient manner to draft the pre contract agreements and secure the interest of our clients. Thus, for better understanding the inclusions of pre contract agreement are mentioned herein under:

  • Introduction and details of contracts that is to be entered between them.
  • The outlines of roles and responsibility between the parties.
  • Highlighting the major steps and stages of the project
  • General pricing cost and cost of the project
  • Risk assessments
  • Exchange of Documents
  • Commitments to the quality of the project
  • Agreement upon the practices to be followed by each party
  • Setting up of meeting schedules
  • Negotiation terms and conditions
  • Reviewing of terms and conditions

The above-mentioned points are inclusion of pre contract agreement. Therefore, the object of pre contract agreement is to clear all the doubts of the parties entering a contract.

EuroMea Legal Service is always committed to provide best advice and results to our clients. Therefore, in case if you need any suggestion or help in relation the matters related to drafting of pre contract agreement you can contact us freely. Our team is fully committed to perform their duty and in delivering out the positive results.