How can I prevent contract disputes?

Contracts are a crucial element of doing business in Ohio. However, the chances of being involved in a contract dispute at some point are unfortunately high, and it’s up to you to take the proper steps to prevent that from occurring in the first place. Inc. offers the following tips in this case, which can help you lessen the chance of litigation down the line.

Finalize your budget before signing

Financial disputes are a common reason contracts are called into question after they’ve been signed. For instance, if you enter into an agreement without finalizing your budget, the other party could claim they weren’t fully aware of the costs that they’re now disputing. Make sure all financial variables are accounted for before signing so there are no surprises when the other party must pay for services.

Have the contract notarized

You want your document to enforceable in a court of law. Notarizing it is just one way to do so, as this process verifies that all signers are actually who they say they are. It also makes it less likely that a piece of the contract will go unread, which can lead to misunderstandings about terms. Should you end up in court, the other person involved in the agreement won’t be able to claim that he or she didn’t actually sign the document since there will be proof of it happening.

Think about the future

Also, think about the future of the contract in terms of renewals. Some have clauses built in that stipulate the contract will renew automatically, while others will have a date when the contract must be renewed. You might also want to include language about circumstances in which the contract would be void. There is no telling what the future holds, which is why it’s best to entertain all possible scenarios when creating your contract.

Categories: Business Litigation