Should I use a template or get a solicitor to prepare my contract?

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.

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