Attorneys help small business owners navigate the confusing aspects of signing a contract. The biggest challenge for them is trying to untangle a problem when the contract has already been signed. The checklist below covers some of the basic components of every business contract. If any of these are missing, then don’t sign it. Your attorney can advise you on what to do if you are unsure.
List Parties by Name – The document should list everyone who will be included in the business transactions. It should clearly show the names of the interested parties and their titles and decide who will be signing the documents.
Responsibilities – The agreement should also clearly spell out who will be responsible for the goods and services that will be provided. Will they be provided by your company or an outside vendor? Is there a shipping policy? Are there any limitations or restrictions? Leave nothing open to chance.