CONTRACT REVIEW

Negotiating contracts can be a daunting task, but it is a critical one.  It is much easier to negotiate a contract properly at the beginning of a relationship than it is to extract your company from a bad contract further down the line.  We have a saying at Tri-Logic Solutions which is “contracts don’t matter, until they do.”  You can go years and years without any issues, but it’s inevitable that at some point in a vendor/customer relationship there will be disagreement or a problem.  Working out the proper language on the front end can really protect your business when this time comes.

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Fact: contract terms are always skewed to the writer.  When an organization writes terms and conditions, they do so to protect themselves and ensure their success.  The issue is that this usually comes at the expense of the signee.  What should exist are mutually fair terms that protect both parties.  The contract should serve as a roadmap that clearly outlines the agreed terms and conditions so that there is no confusion in the relationship.

 

To be clear, Tri-Logic Solutions is not a law firm and does not represent its clients in legal matters.  What we are experts in is first run evaluation and negotiations of a contract to ensure that the terms and expectations are fair and reasonable.  We ensure that the following areas are present in the contract and are reasonable:

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• Clear Scope of Work

• Acceptable Pricing Structure, Payment Terms, and Controls

• Warranties or Guarantees

• Appropriate Term and Exit Clause

• Indemnification

• Assignment

• Jurisdiction

• Miscellaneous Terms

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By having Tri-Logic Solutions review and negotiate contracts, it will save your business time and money by limiting the time your attorney must be involved.  Usually, the attorneys are brought in just as a final check and in the case of simple contracts, not at all.