Whether you’ve only recently started your business or have been running for over a decade, creating contracts can take time and skill to get right.
Employing the help of a solicitor to guide you through the process will be the easiest way for you to guarantee you have covered all the necessary bases within your contracts.
But what should you avoid when it comes to drafting a contract or reviewing a current one?
Don’t be vague
Ambiguity is the first thing you should try to avoid when it comes to your contracts.
The terms and clauses should be clear, well-defined and easy to understand for the other party otherwise confusion and misunderstandings will be caused.
Pay specific attention to the payment terms of a contract as this is an area that can come under a lot of scrutiny so it should be
Don’t overcomplicate things
On the same vein, it is important to use simple language that all parties will understand.
There is no need to fill a contract with legal terminology that ultimately causes confusion among the readers.
Don’t forget a termination clause
Despite it sounding odd to be explaining termination while drafting a contract, it is important to include these clauses as they will cover the terms for the other party’s termination.
It should also cover the consequences of terminating the relationship so that the other party is fully aware of what will happen.
Making sure your contracts are legally sound is essential as this could impact a business relationship if the other party finds an error.
Cover handling disputes
Within the contract, you should make sure you include an agreement on how you will handle any disputes that may arise between your business and the other party.
Within this, you can detail who will be responsible for payments for any disputes and what laws a dispute will come under.
With help from a legal professional, creating your contracts will be much easier and will allow you to create a document that is both clear but accommodating as well.
For advice on creating contracts, get in touch.