Best Practices on Contract Vetting by Anju Bubna

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Contract Vetting is proofreading from a legal perspective. This answers the question, whether drafting is more essential than vetting. While the draft of a contract is made with the key points mentioned; vetting requires the person to do a very intense check of the clauses & recitals, intent of the parties & the risk involved, to protect a client’s interest. Vetting helps a counsel to facilitate a definite transaction flow.
The speaker highlights some of the clauses that a contract includes, focusing mainly on research, definitions, duties and liabilities, guarantees, indemnities, IPR, ADR, and Jurisdiction. The speaker explains the importance of listing out client's requirements and checking the draft thoroughly. The speaker also entails which terms, clauses & unnecessary descriptions are to be removed from a contract and how contracts can be framed cohesively.

Disclaimer

The information provided in the video is for informational purposes only and are not intended to serve as a substitute for consultation with a lawyer. Specific legal issues, concerns and conditions always require the advice of appropriate legal professionals. Every effort has been made to avoid errors in this video. Any mistake, error or discrepancy noted by the netizens may be brought to the notice of the team along with evidence of it being incorrect.

00:00 Introduction
01:23 Key Points of Contract Vetting
02:47 Research
10:01 List out Client’s Requirements
14:57 Check out the Draft Thoroughly
20:07 Definitions
21:25 Duties & Liabilities
23:10 Guarantees, Warranties & Indemnities
24:47 Intellectual Property Rights
26:06- Dispute Resolution Method
28:51 The Broader Vision
29:25 Jurisdiction & Termination
30:39 Points to be removed during vetting
33:54 Q&A

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