Drafting a proper contract is like building a car; you need all of the right parts to interact together in order for it to work well. Without the right parts, or with bad parts, the contract will not work. Even if a contract is operable, bad contracts (like bad cars) have a way of getting people stranded at the wrong time with significant repair costs.
Here is a checklist of common contract terms that you need to include in a well-functioning contract.
Introduction
- Identifying the Parties by Name (Including Each Business or Individual)
- Capitalize Identifying Terms for the Parties
- Addresses of Each Party
- Effective Date of Agreement
- Recitals
Terms
- At-Will Statement or Contract Duration (and Automatic Renewal if Applicable)
- Payment Terms and Dates
- Tax Allocation
- Clawback or Withholding
- Non-Compete
- Non-Solicit
- Non-Disclosure
- Rights of Each Party
- Duties of Each Party
- Termination for Cause or Without Cause
- Enforceability
- Liquidated Damages, Late Fees, Interest
- Indemnification
- Liability Limitations
- Assignment
- Notice
- Applicable State Law Considerations
- Disclaimers
- Warranties
- Arbitration
- Governing Law
- Venue For Enforcement
- Attorney’s Fees and Costs
- Force Majeure
- Confidentiality/Non-Disparagement
- Severability Clause
- Waiver
- Binding Contract Clause
Signature Line
- Name of Entity/Individual
- Names of Persons Signing for Each Business.
- Official Title of Signer that Designates His or Her Authority to Sign a Contract.
- Signatures of Authorized Persons
- Date of Signature
- Notarization (if applicable)
Other
- Contract Exhibits
- Licensing Requirements
- Insurance Coverage
- Criminal Background or Drug Screening Checks
Contact Counxel Legal Firm
If you need help drafting, reviewing, or litigating a contract, then please contact Timothy Coons’ legal team. We would love to help make sure you are not stranded with a bad contract, and if you are, to get your contract repaired as quickly as possible.
Contact us at (480) 744-6621 or at request@counxel.com. Don’t forget to check out the good things that others are saying about the services they received from Timothy Coons on Google.
This article is intended for informational purposes only and does not constitute legal advice for your specific situation. Use of and access to this article does not create an attorney-client relationship between you and Counxel Legal Firm. Please contact request@counxel.com or (480) 744-6621 to request specific information for your situation.
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