A Joint Drafting Clause is a statement in a contract that specifies that both parties have jointly drafted and negotiated the terms of the agreement. The clause is commonly used to ensure that each party has had equal input in the agreement and that any disputes that arise in the future will be handled in a fair and reasonable manner. There are two main types of Joint Drafting Clauses: the Mutual Drafting Clause and the Bilateral Drafting Clause. The Mutual Drafting Clause is typically used when two parties are negotiating a contract together, while the Bilateral Drafting Clause is used when one party drafts the contract and the other party reviews and makes revisions. Both types of clauses provide assurance to both parties that their input into the contract was considered and respected.
Joint Drafting Clause
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The Company and Executive acknowledge and agree that this Agreement was jointly drafted by the Company on the one side and by Executive on the other side. Neither party, nor any party's counsel, shall be deemed the drafter of this Agreement in any proceeding that may hereafter arise between them.
No provision of this Agreement or any related document will be construed against or interpreted to the disadvantage of any party hereto by any court or other governmental or judicial authority by reason of such party having or being deemed to have structured or drafted such provision.
Essential aspects of contracts are (a) Parties (b) Obligations of the parties (c) Payment Terms (d) Integration Clause (e) Termination. The agreement may be worthless if the other party is unethical, unwilling to keep its commitments, and/or in poor financial health.
The contra proferentem rule, also known as ?interpretation against the draftsman? broadly states that where there is doubt about the meaning of the contract, the words will be construed against the person who put them forward.
Examples of the rule Contra Proferentem rule is a contract between two parties that tends to change a clause in a contract that has an ambiguous nature after the decision of the court. Insurance industries are the examples to it that can file complaints in the court if it finds a contract to be of such a nature.
Generally speaking, when applied this rule requires that any ambiguity or other contract terms which are subject to multiple reasonable interpretations will be given the interpretation which works against the party who drafted the document.
2019), "A contract or a provision in a contract is ambiguous if it is reasonably susceptible to more than one interpretation or construction." In other words, if both parties' interpretation is reasonable given the written language of the agreement, the contract may be ambiguous.
A draft is a preliminary version of a legal document and clause is a distinct section of a document.
