You may have been corresponding with a company to agree a price, scope of services to be offered/required and the terms of appointment. The final step in the process is to enter into a formal contract. As the technical scope and legal terms have been agreed this should be the easy step. However, sometimes the simplest things, like inserting the name of the company you are contracting with, can become a challenging task.
Many companies within the construction industry are known by their trading names, so you may not actually be aware of their correct corporate entity. There may also be a number of companies included under a corporate umbrella and it is not clear which is the correct party.
It is good practice:
- before you enter into a formal contract, to make sure you understand the company structure of the organisation that you are seeking to enter into a contract with, as this could have a bearing on whether the other party has financial stability; and
- once the identity has been confirmed, to use the correct and full company details within the contract and not guess at the correct details. Where appropriate, Companies House can be used for free to obtain the full company name, correct company number and registered address. Where there is a company number this should be inserted, so in the event the company changes its name in the future, the company you contracted with can be identified.
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