TO avoid costly contract disputes, your business can benefit from implementing the following review checklist: Who are the parties? Are you contracting with an individual, partnership or limited company? You should know who to take action against if things go wrong.
Does the contract encompass all agreed terms? If other information has been relied upon, for example, through correspondence, make sure it is included/annexed to the contract.
How and when does the contract end? Beware of notice periods.
How are disputes resolved? Consider the governing law and jurisdiction.
Do you need legal advice? Do you fully understand the contract? It is particularly important to understand any warranties, indemnities and liabilities.
Seeking legal advice as a preventative measure can save time and money in the long term.
Please contact Louise Hayward in the commercial team at Lamb Brooks solicitors on 01256 305539 or email her at louise.hayward@lambbrooks.com.
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