Contractual requirements can HUGELY affect how you operate and grow your business. Having a good grasp of your contracts and making sure they are in order can help improve the success and security of your business.
Here's a checklist to help you determine if your business contracts give your business enough protection and whether they is ready to support growth and success:
Not all businesses will require the same documents. And while there are many available DIY contracts online, you should be extremely cautious about using them. A DIY contract will not be able to help you decide when you need to change standard terms and may not take all applicable laws into account. This could open you up to expensive, time-consuming litigation that could have been avoided if you had handled the contract appropriately at the outset.
It is important to read and understand the contracts executed on behalf of your business, whether prepared by your business or another party. If you are drafting your own contracts, keep in mind that if a disagreement arises, courts will often hold confusing or unclear provisions against the party that drafted the contract.
For these reasons, it is important to seek the help of a qualified business lawyer when drafting or negotiating contracts, and to have your contracts reviewed by your lawyer before you sign them or present them to others for signature. A lawyer can help negotiate, create or review your contracts to ensure that they will be legally enforceable and will protect you and your business if a dispute arises.
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DISCLAIMER: This information is given as a guide only. All information in this website is to author’s knowledge true and accurate. No liability is assumed by the authors, or publishers, for any losses suffered by any person relying directly or indirectly upon the information contained in this website. It is recommended that you consult a representative of Stacey Graves Ltd trading as Movest before acting upon this information.