Dear Friends,
I have two things to ask:
1-If the status of the company is changes, let say, from pvt. to public. Do we need to execute fresh agreements in the new name(with public ltd.)?
2-A company is a services provider, providing professional services to its client. While entering an agreement, is it okay to use the word 'Supplier' for the company providing the services? Does supplier mean different than service provider?
Thanks,
adv. rajeev ( rajoo ) (practicing advocate) 16 May 2011
1. Yes. After converting it into public ltd., co., fresh agreement is better.
2. Service provider is better.
Bhawani Mahapatra (Law Officer) 16 May 2011
1. Its necessary to execute a fresh agreement or to amend the required clause or to make an addendum to the principal agreement in respect to the said change.
2. Descripttion of a party in an agreement, by using any name hardly matter, but for convinience/better understanding, it should be written as "service provider" if the company is a service provider.
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