Dubai Chamber of Commerce and Industry, in cooperation with The Jorgensen Law Firm PLLC and Ince & Co Middle East LLP / Dubai Branch, recently organised a webinar advising businesses on key considerations for successful commercial contracts.
The webinar was attended by 285 participants, including business owners,managers,contract specialists, procurement officers,legal and human resources professionals representing a wide range of economic sectors. The session was moderated by Paul C. Jorgensen, Attorney at-The Jorgensen Law Firm PLLC; and Rita Al Semaani Jansen, Partner at Ince &Co Middle East LLP / Dubai Branch.
The webinar highlighted the importance of including specific provisions in commercial contracts, understanding how various contract provisions work and resolving common problems. The speakers shared best practices for recognising contract provisions subject to unique UAE legal requirements and interpretations.
In addition, they shared tips on drafting clearer and more effective contract provisions in agreements related to ownership, warranties, limitation of liability, termination, force majeure jurisdiction and governing law, dispute resolution, authority and mandatory provisions.
“Commercial contracts should help individuals and businesses to achieve goals, reduce risks and comply with laws. When drafters understand how agreements are constructed, negotiated and interpreted, their contracts can increase profitability, lessen the likelihood of disputes and strengthen relationships,” said Jehad Kazim, Vice President- Legal Services at Dubai Chamber.
Kazim added that participants benefited from valuable legal expertise and guidance provided by experienced commercial contract drafters and negotiators.
“Attorneys and contract administrators should understand several things about key provisions in commercial contracts that they create, edit, negotiate and use. To ensure that each provision supports the commercial relationship and lowers the risk of disputes, these individuals must understand the purpose of each key provision and how each works, the common problems to each provision, and how to draft each provision clearly,” said Paul C Jorgensen – Attorney – The Jorgensen Law Firm, PLLC.
For her part, Rita Al Semaani Jansen – Partner –Ince & Co Middle East LLP / Dubai Branch, outlined key considerations for ensuring applicability and enforceability of certain clauses from a UAE perspective, and shared insights on arbitration and termination and how the courts have dealt with specific contractual elements.
Dubai Chamber regularly organises training seminars and workshops to raise awareness about important matters and issues impacting the business community in Dubai. These events fall in line with its strategic objectives of creating a favourable business environment and supporting business growth in the emirate.
