Tip for a signing a perfect agreement
Laws in Ukraine can be very tricky and they are scattered around hundreds of thousands of legal acts. It can take hours of reading the norms of different codes and executive acts to determine whether something you are signing can be considered valid. We will save you some time and suggest a few tips to follow in order to conclude a perfect agreement with your counterparty.
Carefully read the agreement a few times before signing it. Take your time to study every provision - this way you will avoid mistakes that can be very painful to correct later.
Make sure you read the section “Rights and obligations of the parties”.
Pay enough attention to the provisions regarding the unilateral change of agreement terms. You should not agree to the unilateral change of agreement terms, which are essential to the agreement performance.
Dispute resolution - one of the most important agreement provisions. Keep in mind that arbitration is very costly and if you are not concluding a contract for a substantial amount - it will be better to choose a national court of the preferred jurisdiction.
Every party to the agreement should have a signed copy of the agreement. This is your first and most important proof of having signed an agreement at all. Make sure the agreement has the following provision: “The agreement is concluded in two copies for every party. Every copy has the same legal value”.
Before signing the agreement make sure that the person signing it on behalf of each party has the right authorization to do so. The necessary authorization can be confirmed by the person’s position (director of a company, an authorized staff member of a state body) or by the power of attorney. The power of attorney is the required addendum to the contract which is signed by the person authorized in such a way.
Parties’ details - they must be put in the agreement without mistakes. To double-check them - you may use the Single state registry of legal entities.
Make sure you name your agreement right - check how the agreement for the required purpose is called in the Civil Code.
If unsure about the meaning of some agreement provisions - ask a lawyer for advice