High value employment contracts are unique to the nature of employment and skills each such senior employee brings to the organisation based on their expertise and thus, there is no such standardised version of a Key Employee contract. In light of the expertise of such employees including the comprehensive nature of responsibilities expected from such employees it is without an iota of doubt, absolutely essential to put in place a written contract detailing the understanding with such employees.
consequences may be faced by both the parties in case of ambiguities being present in the clause with regards to the coverage of the losses. The reason why indemnity provisions are taken with a pinch of salt is given the laborious enforcement in civil / commercial court cases in India.
Presently, most LSPs have looked at establishing their facilities by leasing / renting warehouses typically located in the outskirts / designated economic zones / industrial parks located in every state of the country.
These cases, probably the first amongst a flurry that are yet to come, establish beyond doubt that force majeure is not a blanket concept to be applied uniformly to the situation arising out of Covid–19 and each case will have to be appreciated on its specific facts.
In light of the current global lock-down of unprecedented scale necessitated due to Covid-19, parties have had to revisit their contracts. The clause that has seldom seen such attention is the "force majeure" clause, hiding as a boiler plate provision. Recent publications have widely covered the legal implication and intricacies of how these clauses work.The... Continue Reading →
REPRESENTATIONS Traditionally representation and warranties are referred to as a single grouped concept wherein most tend to view them as synonymous terms. However, the two terms are separate and distinct from each other having different characteristics and hence different remedies under law. Understanding the differences between them and using them appropriately is essential to ensure... Continue Reading →