Commercial disputes can generally be described as any type of dispute within the business world.
Commercial disputes may occur in the UK or, as is becoming more and more common, they may occur in a foreign jurisdiction. Commercial disputes most commonly occur when one party claims the other is liable for a breach under a contract and the other party is denying liability. They occur in relation to contractual claims, recovering unpaid debt, personal injury and negligence.
It is important to note that there are time limits in which action can be taken in relation to commercial disputes. For contractual claims, this is six years and for personal injury claims, it is three years. If legal action in relation to commercial disputes is not taken within this time frame, it is "out of time".
Commercial disputes can be very complex and should you even anticipate that they are going to take place, it is essential that legal advice is sought at the earliest possible opportunity. Proven experience has revealed that addressing and managing commercial disputes earlier reduces escalation of the disputes and you have a greater likelihood of reaching a sensible, satisfactory and commercial resolution.
Is litigation inevitable?
Commercial disputes no longer necessarily mean full scale litigation. There are various mechanisms available to secure an early resolution. Alternative dispute resolution such as negotiation, mediation and arbitration are often preferable and if the matter does reach the Court, it will be held in a party's favour if prior attempts at alternative dispute resolution were made.
If a resolution proves impossible and court proceedings will become necessary, this can be an expensive, stressful and time consuming process and if you do not win, you stand a high chance of picking up the legal costs of your opponent. It is necessary to think commercially about the merits of the commercial dispute and any damage to your reputation which may follow as a result of any negative publicity.
If you would like to obtain legal advice on an issue relating to commercial disputes, Caven can put you in touch with a local specialist commercial disputes solicitor free of charge. So if you have any questions or would like our help in finding local commercial disputes solicitors, please call us on 08001 221 2299 or complete the web-form above.
- Last Updated on 10/07/2012