Conclusion of contracts has both great practical and principle importance for business operations. Procurement routines are becoming increasingly professionalized and personal relationships are reduced. Many see this as complicating factors in both the conclusion and follow-up of contracts. Good and thought-through contracts are, however, more important than ever.
In Norway we practise freedom of contract and the contract parties have great flexibility in formulating the contract. However, a number of Norwegian laws have mandatory provisions. These need to be observed when drafting a contract in order to make the contract legal and enforceable in Norway.
Thought-through written contracts clarify the parties' rights and obligations, and help prevent doubts and uncertainties from developing into conflicts and litigation.
Do you want a professional party on your team when negotiating and drafting contracts? Our team of contract lawyers has broad general expertise, and is specialized in various industries. We have negotiated several contracts cross borders for both international and national companies.
Valid contracts and other legal documents form the basis of every business.
Contracts governed by Norwegian law are interpreted in light of a number of elements in addition to the contract text itself. This constitutes a major difference compared to other countries’ contract law, hereunder Common law. Common law relies mostly on the explicit contract text while contract interpretation under Norwegian law includes “surrounding” elements, not only the contract text itself.
Another main difference between Norwegian law and foreign legislation is that you may have a binding contract before the contract is even signed by the parties.
Although contract law principles may be similar in many countries, there are several elements which may surprise you when drafting contracts in Norway.
Find out more: Business in Norway - contract drafting and negotiation
Can your company escape liability in the event of late or non-delivery? The outbreak of the corona virus has seriously put the world on hold. This poses major challenges for companies that will deliver goods and services in accordance with what has been agreed.
To avoid major losses, it can be crucial to get an exemption from contractual obligations or to have them altered with reference to force majeure.
Find out more: The corona outbreak and force majeure
Līga Silniece, Managing Director, SIA NORCON
We have broad and long-term practical experience with contract law for different industries and are committed to protecting your interests and ensuring your finances.