Legal Disputes on Contractual Agreements
Economic crises can come at any time in any country. The major reason is the financial situation of the country which adds to the burden for taxpayers. However, the UAE is one of the countries where citizens do not have to pay income tax, but they come across other difficult financial situations. For example, a legal dispute may agree on the contractual agreement. Though the Law Firms are working for the companies to protect their businesses legally, the delay in contractual agreements is making it worse.
The weaker financial markets are, the more disputes are caused and companies slow down their work progress. Sometimes, disputes are unavoidable, when companies take a look at their cash flow. They are nearing debt, which is not a good indicator of a successful business. It often happens that payments are not made successfully. Investors are trying different ways to secure their funds but, they are not securing money in a legit manner. The contractual agreement should mention all the financial terms and conditions perfectly without any ambiguity.
If the contract is made in haste or vaguely created then, there are chances of disputes between the two parties. Therefore, a lawyer should be involved in making a legal contract for the companies and their merger. Companies are vulnerable when the Law Firms are also not cooperative. The business activities would stop if there were no funds in the company. The debt collectors should actively perform their duty to recover the debt from debtors.
Earlier, businesses were ready to extend the period of payment, based on their good relations. It kept the debtor’s position strong. But these days, inflation has hit the world economic situation and every business is going through a financial crisis. Therefore, companies have strictly mentioned the deadline for payments.
The contractual agreements are faced with difficulty because companies do not have enough finances for the sale and purchase as they were before. They want to renegotiate the sale and purchase to keep their cash flow strong. In some cases, the damage can be claimed which happened due to the failure or delay in the delivery of projects. Study More about Contractual Agreements by Top Advocates in Dubai.
