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Recorded Webinars

Recorded Webinar: Drafting Effective Penalty Clauses in Commercial Agreements

Penalty clauses can be an attractive mechanism to reduce contract risk, but imprecise drafting can lead to unenforceability and significant cost consequences. This session will examine the legal issue concerning penalty clauses and provide a guide to drafting robust clauses that w
PRESENTED BY Hugh Smith Senior Associate - Chamberlains Law Firm , Canberra

Date/Time

About the Webinar

Penalty clauses can be an attractive mechanism to reduce contract risk, but imprecise drafting can lead to unenforceability and significant cost consequences. This session will examine the legal issue concerning penalty clauses and provide a guide to drafting robust clauses that will withstand intense scrutiny, including:

  • What distinguishes penalty clauses from other damages clauses
  • What are their purpose and benefit?
  • Examples of types of penalty clauses, including liquidated damages clauses
  • Essential elements of valid penalty clauses
  • Assessing legitimate business interests and estimates of likely loss
  • Documenting the basis for genuine pre-estimates and calculation of loss
  • How to build in proportionality while avoiding punishment
  • Characteristics of unenforceable penalty clauses
  • Examples, drafting tips and cases: Paciocco v Australia and New Zealand Banking Group Limited [2016] HCA 28; Simcevski v Dixon (No 2) [2017] VSC 531

Presented By

Hugh Smith
Senior Associate, Chamberlains Law Firm Canberra, ACT

Hugh is a Senior Associate at Chamberlains Law Firm which has ranked in the top 10 fasting growing firms at the Australasia Law Awards of two occasions in the last 7 years. Hugh specializes in commercial drafting and corporate disputes and practices mainly in the Federal Court and the Federal Circuit and Family Court.

Hugh has risen through the ranks of Chamberlains, from a junior lawyer to Senior Associate with accolades over the last 6 years for his drafting and advocacy skills.

Hugh is also known either affectionately or otherwise as a “tik tok” lawyer, having a legal tik tok page called Hugh’s Hunch where he engages with both solicitors (junior and senior) and members of the public.

Who Should Attend?

This webinar is suitable for lawyers practising in commercial law – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Lawyers can claim up to 1 CPD unit/point – substantive law. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

WA lawyers – Please note that TEN is unable to verify your completion of recorded webinars to the Legal Practice Board of WA. TEN is an accredited provider.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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