Commercial disputes arising during the conclusion, amendment, termination, and performance of commercial contracts

Commercial Contract – is an agreement between a business entity and another participant (or participants) in business relations, aimed at establishing, changing or terminating their rights and obligations in the sphere of business activity. Concluding a contract involves reciprocal actions by two or more business entities aimed at establishing contractual terms that correspond to their actual intentions and economic interests, as well as formalizing the contract as a legal act. A commercial contract is considered concluded when the parties have reached an agreement on all of its essential terms in the manner and form prescribed by law. Essential terms are those recognized as such by law or required for contracts of a particular type, as well as terms on which one of the parties insists that an agreement must be reached. When concluding a commercial contract, the parties must in any case agree on the subject matter (the name and quantity of products, as well as quality requirements), the price and the term of the contract. In accordance with Article 10 of the Commercial Procedural Code of Ukraine, disputes arising during the conclusion of commercial contracts may be submitted for resolution by a commercial court.

Article 188 of the Commercial Code of Ukraine provides that commercial contracts may not be amended or terminated unilaterally unless otherwise provided by law or by the contract itself. A party that considers it necessary to amend or terminate a contract must send the other party a corresponding proposal. The party receiving a proposal to amend or terminate the contract must notify the other party of the results of its consideration within twenty days of receiving the proposal. If the parties fail to reach an agreement on amending (terminating) the contract, or if no response is received within the prescribed period, taking into account the time required for postal delivery, the interested party has the right to submit the dispute to court for resolution.

Disputes arising during the performance of commercial contracts are disputes that arise when the principle of proper performance is violated. This principle provides that business entities and other participants in commercial relations must duly perform their commercial obligations in accordance with the law, other legal acts and the contract, and, where no specific requirements governing the performance of obligations exist, in accordance with the requirements normally applicable under the relevant circumstances. Such disputes may be considered by commercial courts.

The «Eurovector» company offers you highly qualified assistance in resolving commercial disputes. We will provide you with information on any matters of interest to you in the field of commercial law. Our lawyers can also represent your interests in court when commercial disputes are being considered.

You can learn more information and find out the cost of legal services during a consultation with specialists at the legal company EUROVECTOR.  To schedule a consultation, please call    048-771-91-05 or by email [email protected]      

@  ADDRESS

LAW COMPANY EUROVECTOR