Get Your Contract Reviewed!
This month, I have been assisting several clients with the review of contract agreements. This is one of my favorites areas of law. I can't say this enough to my clients and friends:
Folks, the best time to receive legal advice is BEFORE any contract is signed.Any new legal document has the potential to substantially impact your finances, your time and your responsibilities. It is critical to conduct a thorough review of the terms and conditions of any contract. The terms of any contract have to be fairly negotiated, properly drafted and reviewed to endure the contract meets the intentions of the parties. Whether you are an individual who has been handed an agreement for the first time or a business that deals with contracts on a daily basis, it is important that the agreements you enter fully protect your interests and goals.
Look, There Is No Such Thing as a Boilerplate Agreement!It is fundamental in contract drafting and negotiation to:
1) Clearly identify the parties and their duties, rights and obligations.
2) Propose a detailed and specific scope of work for supply and/or for services rendered.
3) Incorporate choice of law provisions.
4) Identify remedies for default and methods/forum to resolve disputes.
5) Understand any waiver of contract rights.
6) Understand the exposure to any claims and amounts.
7) Understand the implications of the indemnification clause: the right to indemnify versus the right to defend.
8) Discuss City, County, State and Federal Regulations affecting the operations of your businesses in the State of Texas.
9) Alert businesses of programs and services that will help businesses thrive in today's competitive business environment.