Risk management:

The aim of all companies and individuals is to minimise their exposure to risk, whether it be the risk of financial hardship,the risk of accepting or otherwise rejecting new opportunities, and the risk of change.

The best way to manage risk is to:

1 Be informed. Obtain advice from the appropriate specialists prior to making a decision and keep a record of any such advice provided, eg legal and financial advice.

2 Be realistic. Make sure that your expectations are attainable and develop strategies for accomplishing and exceeding these expectations.

3 Be resourceful. It is always recommended that you research the individuals and/or companies who you are proposing to enter into a contract with, for example:

a Have you got their full details?

b Are they appropriately licensed (where relevant)?

c Have they had legal proceedings brought, or complaints lodged, against them?

d Are there any testimonials available?

e Can they provide you with the services or products required?

f What is their history/background?

g How do they operate and are there standard terms/ contracts that will apply?

If there is a concern about the level of risk involved and how this is to be managed in the circumstances, alternative dispute resolution processes such as conciliation, mediation and negotiation may be available. They provide an informal approach to addressing the issues and attempting to reach a resolution.

If you wish to speak with one of our Risk Management Lawyers, please contact our firm by telephone on (02) 9233 4048 or send an email to info@navado.com.au. 

This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.