Conferences: Overview, definition, and example
What are conferences in a legal context?
In contracts, “conferences” refer to scheduled meetings between the parties to discuss important matters related to the agreement. These meetings can be used to check progress, resolve problems, or negotiate changes. They may be required as part of the contract or arranged as needed.
For example, in a contract between a business and a supplier, both parties might agree to hold monthly conferences to discuss inventory levels, delivery schedules, and any issues that need attention.
Why are conferences important?
Conferences help businesses stay on the same page. They ensure that both sides communicate regularly, preventing misunderstandings and solving problems before they escalate.
Many contracts include conferences as a first step before taking legal action. This gives both parties a chance to work out disputes informally, which can save time and legal costs.
Understanding conferences through an example
Imagine a small business hires a marketing agency to run an advertising campaign. The contract requires a conference every two months to review results, discuss any needed changes, and set new goals. These meetings help both sides stay aligned, reducing the risk of disputes over performance.
In another example, a construction company signs a contract with a property developer. The contract includes a clause stating that either party can request a conference if there are concerns about project delays or budget overruns. This allows both sides to address issues early and find solutions before serious conflicts arise.
An example of a conferences clause
Here’s how a conferences clause might appear in a contract:
“The parties agree to hold regular conferences, as required, to discuss performance under this agreement, address concerns, and negotiate any necessary adjustments.”
Conclusion
Conferences provide a simple way for businesses to communicate, solve problems, and keep agreements running smoothly. Whether used for progress updates or dispute resolution, they help avoid misunderstandings and keep both parties working together effectively.
Including a clear conferences clause in a contract can improve collaboration and reduce the risk of disputes, making it easier to manage business relationships.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.