This is a great checklist to have when you are going over any sort of business agreement or contract. If it is missing any of these elements, it is a good idea to amend the document before signing it.
- Terms and parties – Who is involved in the contract and what are you agreeing to?
- Terms of renewal – This is only necessary if you have a limited timeframe on the contract and want the option to renew it at the end.
- Termination terms – How can the parties get out of the contract early? Are there any penalties for doing so?
- Scope and deadlines – If the agreement is for a business project, you need to know what is expected and when it needs to be delivered by.
- Dispute resolution – What if something goes wrong? This clause outlines how the parties will work out their differences.
- Guarantee – Is there a guarantee or warranty being provided by one or both parties?
Once you have agreed on all of these matters, you should have a professional review the document for you to ensure it is worded properly and that there is no hidden doublespeak in the contract. A business lawyer can save you from getting in over your head.
The Right Attorney for Small Business Owners
If you run a small business, come and see Kaylan Pokala for all of your contract and agreement needs. Since he’s running a small business himself, you are sure to get the personal attention you need at a budget-friendly cost. Call 1-844-695-1487 or request an appointment from the website today.