Drafting and Negotiating a High Value, Long-Term Contract

Drafting and negotiating a high value, long-term contract for a well-known bi-annual event.

SE-Solicitors advised a well-known, multi-national supplier of specialist goods and services who were looking to enter into a long-term contract with the organisers of a well-known national bi-annual event.

The challenge in this matter was that the contract needed to consider and account for a complex range of both goods and services, which would be provided by the client for four events which would stretch over the period of eight years. The contract, therefore, had to account for any necessary changes and developments which were likely to occur over this extended period. At the time of the matter, this contract was the biggest of its type globally in terms of value, which sat between £15 and £20 million.

The Value to the Client:

The SE-Solicitors team worked closely with the client’s group Chairman, approaching the contract in multiple stages. It was first important to understand the precise commercial requirements of the parties involved, which was achieved by careful analysis of the written material they both supplied. The team then prepared headline terms of agreement, in order to obtain approval for the approach from both parties. This was followed by meetings with both the client and subsequently the customer in order to further develop the contract. This process proved to be quite lengthy, followed by some 17 complex schedules. The contract was then at a stage where it was capable of detailed approval.

The customer was happy to rely upon the drafting expertise of the SE-Solicitors team, and accepted input into the agreement in line with the principals which had been agreed between out client and the customer.

The result was greatly satisfying for both parties. The contract has since been tested and both the client and customer are pleased with the outcome.