Eight questions to ask yourself before you sign an agreement that matters.
A contract is not simply a document that parties sign and put away.
A contract creates obligations. Depending on the transaction, it may determine what each party must do, when performance must take place, how payment will be made, what happens when one party fails to perform, and how disputes are to be handled.
Before signing an important agreement, a party should therefore ask:
Business owners in particular should avoid treating contracts as routine paperwork. As a business grows, its contractual relationships can become increasingly important to its financial and operational stability.
Aya Lex & Partners PRUC identifies businesses and organisations among the audiences it seeks to support, particularly where clients require clarity concerning contracts, compliance and legal risks.
Read the agreement. Understand the agreement. Then sign the agreement.
This article is for general information and does not constitute legal advice.