What is a commercial contract and what types are there?
Both companies and professionals, as well as other users, have the need to establish different types of contractual relationships. As Notaries in Barcelona and Digital Notaries throughout Spain, in this article, we want to explain what a commercial contract is, the importance they have in society, and the different existing types, providing clear examples of commercial contracts.
Commercial contracts: What is a commercial contract in Spain?
If you want to know what a commercial contract means, we explain it to you below. A commercial contract is nothing more than a private or public agreement, whether verbal or written, that reflects the wills of two parties and has a commercial purpose. The contract can be entered into for a specific matter, as well as for the provision of a service or the completion of a particular project.
Characteristics of commercial contracts
Below, we will explain the characteristics of a commercial contract. For the commercial contract to be valid, it is important that it follows certain guidelines. To begin with, the consent between the two parties must be valid. Both you and the other party must have the legal capacity to sign and exercise all your rights. Also, the legal framework plays a fundamental role. The justice system is responsible for ensuring the enforcement of the contract.
No contract can go against Spanish legislation. The document will determine both the rights and obligations of each party according to the Commercial Code, the Civil Code, and numerous special laws that may apply depending on the case. Visiting our notary office in Barcelona will allow you to receive the advice you need. You will have a professional who will ensure that the procedure is carried out correctly.
Types and Examples of Commercial Contracts in Spain
Currently, as Notaries in Barcelona, we encounter a wide variety of types of commercial contracts in Spain. What types of commercial contracts exist? Some of the most notable are the following.
- Commercial sale contract: the parties involved agree on an exchange of goods.
- Commercial barter contract: goods are exchanged without the buyer offering money.
- Commercial contract for land transport and Maritime Trade: the transport of goods is agreed upon to deliver them as determined.
- Commercial loan contract: goods or products are lent in exchange for being returned within agreed deadlines.
- Commercial partnership contract: used in businesses where a good is sold and paid for.
- Simple guarantee contract: processed to obtain a guarantee in case of breach of obligations between the signing parties.
- Commercial insurance contract: acts as protection against the risk posed by another contract to obtain compensation.
- Promissory notes: guarantees documentation for the agreement reached.
- Association: creates and regulates the participation of the parties involved in certain businesses, establishing contributed amounts, time and/or work.
- Commercial commission contract: establishes the remuneration that the persons fulfilling the contract conditions will receive.
Commercial sales contract
The sales contract is an example of a commercial contract. In this case, one of the parties agrees to give a good in exchange for receiving payment of a monetary amount.
The other party must respect the payment according to the agreed amount, time, and method. Currently, this contract is one of the most modern ways to acquire goods. For example, when you want to buy or sell a property, you will have to sign one of these contracts before a Notary. If you want to expand this information, we invite you to visit our article on the role of the notary in the sales contract.
What is the role of the Notary in the sale?
Example of Commercial Sales Contract
What parts does a sales contract have? Well, it consists of the following sections:
- Date
- Identification of the sellers and buyers by name, town, address and DNI
- Identification of the parties acting on behalf of companies, as self-employed or entrepreneurs, and the Notary in charge of the public deed of sale
- Statement of the Case and the object for which the commercial contract is made
- Agreement
- Clauses containing information about the asset, its delivery and method of payment
- Obligations of the parties contemplated in the Civil Code
- Signature
Difference between Commercial and Civil Contracts
As you already know what a commercial contract is, we consider it very important that you can differentiate between a commercial contract and a civil contract. The commercial contract is the agreement entered into between two professionals, whether companies or self-employed individuals. On the other hand, in a civil contract, one of the parties will always be unrelated to professional activities.
The main difference lies in the different legal effects of the contract. The commercial contract is governed according to the agreements between the parties and the Commercial Code and special commercial laws; whereas a civil contract is governed by the will of the parties and civil regulations.
Other frequently asked questions
The law that regulates commercial contracts in Spain is the Commercial Code, approved by Royal Decree on 22 August 1885, and governs both commercial acts and types of commercial contracts. Other laws also regulate specific aspects such as the Capital Companies Act.
Atypical or innominate commercial contracts are contracts not regulated by law and do not have specific rules. In this regard, in their drafting, there is freedom regarding their form, content, or termination.
Commercial contracts and their classification give rise to different types of arrangements. Among the most common classifications we find commercial exchange contracts (here we find contracts of sale, barter, lease…), collaboration contracts, insurance contracts, conservation, deposit or custody contracts, loan and credit contracts, or guarantee contracts.
Indeed. Unless the Law explicitly states otherwise, a verbal commercial contract can be agreed verbally as proof of intent. It is often used to speed up procedures both in small companies and in medium-sized ones. However, the possibility of breach or termination of the contract discourages it, as no legal evidence would be obtained to prove it and claim any damages that occur.
Discover commercial contracts at JLA Notarios
In conclusion, the commercial contract constitutes a fundamental document that includes all the agreements reached by several parties. Depending on the purpose and type of activity, different kinds of contracts can be found, such as mandate, agency, franchise, insurance, loan or credit contract, discount, and numerous other contracts.
JLA Notaries, Notary for commercial contracts
At JLA Notarios we have a specialised team to carry out notarial services related to commercial procedures. Furthermore, currently, as an online Notary, we can process numerous commercial notarial services completely electronically.
Therefore, we can attend to all types of commercial notarial services whether you come to sign in person at our Notary office on the Diagonal in Barcelona or if you sign with our notaries via videoconference, from your home or company anywhere in Spain.
For this reason, if you need to manage commercial policies online, company deeds online or other services, please contact us via the email bcn@jlanotarios.com or the contact form on our website or visit our offices and we will be happy to assist you.
We hope you have found this notarial blog interesting and valuable. For any notarial procedure, the entire JLA Notarios team will be delighted to assist you.
