Category Archives: Commercial Laws

Indemnity & Guarantee-Distinction

Explains Contract of Indemnity and Guarantee and the difference between them. Continue reading

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Joint Ventures-Explained

 What is a Joint Venture? Joint Ventures are internationally recognised as a form of cooperation in the joint fulfilment of the construction contract obligations. Joint venture undertakings come about through agreements for a combination of legally independent entities for the … Continue reading

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Novation of contract

What is Novation of contract? A contract can be discharged by the parties either by entering into a new contract in substitution of the old contract or by acceptance of performance of modified obligations in lieu of obligations stipulated in … Continue reading

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Fast Track procedure for arbitration introduced by the Arbitration and Conciliation (Amendment) Act, 2015

Fast track arbitration was introduced in order to expedite the arbitration process where the arbitration tribunal shall have to make an award within a period of 6 months from the date of reference of the dispute to the arbitration tribunal Continue reading

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Top 10 tips to avoid disputes and litigation in contracts

When entering into a contract nobody wants a dispute and even more, wants to avoid it escalating into litigation. Litigation is time-consuming, expensive, risky and stressful; it diverts precious resources and is a distraction to the normal business activity. Due … Continue reading

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Highlights of the proposed amendments to RDDBFI Act & SARFAESI Act

To read a detailed article on the amendments, click: Know all about the changes made by Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016. Background The Recovery of Debts due to Banks and Financial … Continue reading

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Confidentiality Agreements or Non-Disclosure Agreements-Explained

What is Confidentiality Agreement? Confidentiality agreements which are also called Non-Disclosure Agreements or NDA are agreements entered between parties to protect confidential information exchanged, from being used for business advantage or being disclosed against one party’s will. These agreements, are … Continue reading

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Termination of Contract

Contracts are entered into by parties with an intention to bind together in a legal obligation and thereby to serve the interest of the parties.  The parties, in order to govern themselves and to safeguard their interest, make their own … Continue reading

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A brief introduction to the Insolvency and Bankruptcy Code

The Insolvency and Bankruptcy Code1 (Insolvency Code) was introduced in the Parliament in December 2015 and was referred to the Joint Committee of Parliament. The Committee has submitted its report on 28th April 2016 (read the summary of the Joint Committee Report … Continue reading

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Power of Attorney

A power of attorney is a legal document by which one person (the principal) appoints another person to act as an agent on his or her behalf, thus conferring authority on the agent to perform certain acts or functions on behalf of the principal. Powers of attorney are routinely granted to allow the agent to take care of a variety of transactions for the principal. Continue reading

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