Counterparty Signing

Despite being a relatively short Act, the recently introduced Legal Writings (Counterparts and Delivery) (Scotland) Act 2015 is still significant.

Unlike Scots law, English law has long since recognised signature in counterpart.  Given the international nature of a number of commercial transactions, signing in counterpart shall be welcomed.  It will no longer be necessary to wait to have all parties sign the same document or arrange a signing meeting.  Under the Act, each signed counterpart shall when put together be treated as a single document.This is a welcome introduction to combat something that can turn out to be quite difficult or time consuming following a complicated transaction.

If you are unsure how this may affect your commercial business or have any commercial contract queries generally, please do not hesitate to contact Kirstin Ejsmont or call 01224 632464.