If you rely heavily on contracts in your Georgia business, then it is essential to know what should be in them. You need to make sure your clients or customers receive the contract well. You want also to ensure it is legally sound. If the agreement is not enforceable, then it is worthless.
Forbes explains that you also need to scour your contracts for mistakes. Some may be more obvious than others, such as a miswritten word or incorrect dollar amount. However, the errors that you might overlook are those that could lead to problems down the road.
- Making it too long
When you try to include too much in your contract, it is a bit overwhelming. It could take extra long for the client or customer to read through it, understand it and sign it. This may slow things down. Not to mention, if you put too much in the contract, your client or customer may not even sign it. Stick to only what you need in the document.
- Letting contracts go stale
Do not use the same contract form for every deal you enter. Update it often. Make sure it fits the situation and the client or customer. If you have a long-term contract with a client or customer, make sure you review it occasionally.
- Using confusing and ambiguous wording
You want your contract to be easy to understand. Make sure you keep it detailed and precise. Also, ensure that any wording you use is legally sound. Often, confusing wording may lead to legal issues with enforcement. Make things easier on everyone and state the term plainly.
It is vital that you take the time to put together your business contracts carefully. You want your clients or customers to understand what they sign. Aim to make the terms fair to both sides. Above all, contracts need to be legal and easily enforceable.