Q&As

What date should be put on a contract where the parties have not signed the contract contemporaneously? Is the date stated as the 'commencement date' in the contract or is it when the last of the parties signs/seals the contract?

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Published by a ÀÏ˾»úÎçÒ¹¸£Àû Commercial expert
Published on: 14 August 2017
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The date on which an agreement is intended to take effect can be different to the date on which it is signed. Unless otherwise provided, an agreement takes effect once signed by all parties. If the effective date is not the date on which the document is signed by all the parties this should be made clear in the agreement itself in a separate commencement clause. See the Drafting Notes to Precedent: Commencement and term clause and Practice Note: Executing documents—deeds and simple contracts for more information.

Consideration too should be given to the General Principles on contract interpretation. The terms of a contract, including any reference to a commencement date or effective date will be interpreted (and thus will be binding or not binding on the parties) in accordance with the usual Rules of contract interpretation. In addition, there must be certainty

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Key definition:
General Principles definition
What does General Principles mean?

The Code is based upon six General Principles, essentially statements of standards of commercial behaviour. These General Principles are the same as the general principles set out in Article 3 of the takeover Directive. They are expressed in broad general terms and the Code does not define the precise extent of, or the limitations on, their application. They are applied in accordance with their spirit in order to achieve their underlying purpose.

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