More On Good Contracting
I’ve set the foundation on starting your contract. Let’s get into writing & making negotiations. A well drafted contract helps you to maintain a successful business. We provide clear and concise contract check lists to our clients but would like to provide everyone with the tips for good contracting.
- Avoid misunderstandings. The duties of both sides need to be clearly written out staying away from ambiguities that my lead to litigation.
“So I think that by now we’ve gotten the message: Don’t use herein, hereunder, and other here- and there- words. Not only are they archaic, they create confusion.” – Ken Adams, an expert in contract drafting
- Make it plain. If your are expecting a certain outcome from the arrangement, then you need to have it written out in the contract so both sides understand those outcomes.
- Revise the standard. If you are going to be using a pre-drafted contract make sure to revise it to meet your needs. Most pre-written forms are general even if they are on the topic you want. Key in on the details
- Be first. When writing the contract, you be the first drafter. The negotiations will lean to your favor because you have set the standards that should be observed first.
- Classic form. If the contract looks standard it’s less likely that the other side will want to further negotiations.
- Say it loud. Make use of your [CTRL+B] and [CTRL+I] when placing provisions into your contract to make them more direct.
- Fine Print. The last section in the contract that is easily over looked but happens to be the most important especially if the parties enter into litigation.
Drafting a contract is in no way a walk in the park but a few of our quick tips can help any small business owner create a legally binding agreement or have the knowledge of what to look for while engaging into a contract with another party.