Artyom Orlov, a lawyer in corporate law and investment attraction, together with Beinopen, a project created to unite people and organizations in the fashion industry based on contractual obligations, are launching an initiative to create a legal framework for reliable interaction between the members of the Fashion Alliance.

The main goal is to develop standard and universal contracts that establish key aspects of the relationship between partners. From a businessman's point of view, a contract is a document that defines an agreement between two or more parties. As a legally significant agreement, it entails a set of mutual rights and obligations. The contract is necessary to clearly define the conditions for fulfilling obligations and the possibility of their enforcement or compensation for damages in case of non-fulfillment.

For an entrepreneur, the contract acts as insurance, providing the possibility of making claims in case of non-fulfillment of conditions. The presence of clearly defined obligations and measures of responsibility for their violation contributes to the stability and predictability of the business.

For example, the absence of detailed conditions in the contract for the production of clothing related to the quality of the material, colors, style and specific structural elements may lead to a situation where the buyer will need to accept and pay for any products that meet only the general conditions specified in the contract. Therefore, it is important that the contract contains specific requirements or the procedure for their approval.

A properly drawn up contract guarantees the fulfillment of obligations and allows you to make demands if necessary. It is also necessary to justify expenses to regulatory authorities.

When signing the contract, make sure that:

• The contract is signed by an authorized person.

• The counterparty is able to fulfill the obligations stipulated in the contract.

• The contract contains all the necessary conditions in accordance with the law.

• The form of the contract has been observed.

• The agreement includes important obligations of the counterparty, the terms and procedure for their execution, as well as liability measures for violation.

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