I run a retail business, usually buying from UK wholesalers. I've been negotiating with a manufacturer for direct supplies, and want to get something on paper to reduce the risk of them backing-out. Should I use a template or ask a solicitor to do this?
It depends. The question of whether to use a template document or ask a solicitor to draw something up can be a difficult one, and it's hard to give anything more than vague guidance. Amongst other things, you'll need to consider:
- the expected revenue/profitability of the matter;
- the complexity of the matter;
- the types of risks involved with the matter, the levels of those risks, and the potential magnitudes of those risks;
- the actual cost difference between using a template and employing a solicitor; and
- the contract drafting skills you have available.