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Relationships Built On Trust

Designing an ironclad contract is key in business

by | May 6, 2016 | Contract Disputes

Business contracts are some of the most important documents you’ll have when you start creating a new facility. You’ll want to establish solid relationships with others, like vendors or sellers, renters or landlords. Entering into a business relationship via contract is a very serious legal task, and you should only sign the documents once you know they contain what you can agree on.

Your attorney can help you go through your business contract to make sure it’s fair to you and others. Any business contract you sign should protect your own interests first, so your business can be protected.

Remember, this agreement needs to address any possible situation that may come up. What if a delivery is late? What if something doesn’t work correctly? How can you get out of the contract if too many mistakes are made?

The contract should also be straightforward without ambiguity. Unclear terms can lead to disagreements later on, so it’s important that everyone involved understands what is expected of them and what happens if the terms of the agreement aren’t met.

Use language you can understand in your contract, because writing a contract in legalese could lead to confusion between parties. You want to write your contract in plain English, so you and the other party know exactly what you’re signing.

Our website has more information on what should be in your contract and how to protect yourself and your business. Your contract could make or break your business, so making sure it’s ironclad is key to keeping others to the terms of the agreements.