Risk managementCommercial pressure Time is short, the clients' expectations are high, the deal is to be done at all costs - and as soon as possible.

The clients do not want to hear supposedly negative comments such as 'this could take some time.' If they do, they could take their business elsewhere.

Sometimes there is no chance for letters to be sent - the deal is simply negotiated and completed in a series of meetings.In short, commercial work can be a recipe for disaster if it is not handled properly.

And if anything does go wrong, the clients are likely to sue.How do you meet the clients' needs and expectations and ensure the job is done properly, with the minimum chance of a mistake being made? Here are some tips to help you avoid the more common mistakes.l It is crucial to take full instructions.

Establish what your clients want.

What do they expect of you? What time scales are involved? If it is an acquisition of a company by a company, check that you have their correct names.

Make sure that the clients are aware of what you need from them, by when and the implications if they fail to meet your requirements.

l However urgent the transaction, you must create a retainer letter, agree it and send it to the clients, clearly identifying what you will and will not be doing on their behalf.l Claims often arise because the final document does not reflect the clients' original instructions.

A classic example is failing to state who is responsible for payment of debts in a company acquisition.

Ensure that the final document reflects your instructions.

l If instructions are verbal, record them in an attendance note, read them over to the client, and obtain confirmation that they are correct.

Send a copy of the attendance note to the clients by way of confirmation.l If negotiations are taking place face to face and documents are being amended in your clients' presence, get the clients to initial the amendments on the draft.l Be careful if other professionals are involved, for example accountants, financial advisers, or valuers.

Get copies of the other professionals' retainer letters.

See whether there are any gaps in the advice being given.

If so, tell the clients.

If there is a problem it may well come home to roost at your door.

Case law indicates that where more than one professional is involved, the solicitor is 'in charge' unless there is evidence to the contrary.l If a team or teams is dealing with the transaction, make sure there is someone in overall control.

It is crucial that teams communicate effectively with each other.

Do not assume that someone else is dealing with a particular point.l Do not dabble.

Commercial work is not as easy as it looks.

If you do not have the expertise and resources, do not get involved.l This column was prepared by the St.

Paul risk management team