Business contracts are often the cornerstones of businesses, with thousands of contracts exchanged between companies and clients on a daily basis. From signing lease agreements and taking out loans to working with independent contractors and NDAs, you likely sign agreements all the time. However, it’s important to ensure that the contracts created by your company are legitimate, legally valid, and enforceable. As such, the following blog explores what you can do to create solid business contracts as well as the importance of working with contract drafting & review attorneys to help you protect your business.
What Should Be Included in Business Contracts in Georgia?
In Georgia, it’s important to understand what you must include in your business contracts to protect yourself and your business’s reputation. Generally, the most important terms you must include are what will be exchanged, like services or goods, and the compensation that will be provided for these goods. In addition, you should include when it will be exchanged, such as making a lump sum payment or monthly payments, and where it will happen, whether online or in-store. Money is often the most contentious aspect of these agreements, which is why you should make it abundantly clear as to who is responsible for payment, when the payments must occur, and how payments should be made. The more detail you can provide, the better.
However, this is simply the very core of what you should include in your contracts. You’ll also need to define the parties involved as well as how disputes will be handled should any arise, such as through mediation, arbitration, or litigation. Additionally, you should include terms related to the grounds on which the contract can be terminated without being held liable for a breach of contract. This includes immediately terminating the contract in the event another party has breached the agreement or imposing a waiting period to allow the other party time to remedy the issues.
Do I Need an Attorney to Help Me Create a Valid Contract?
As a business, ensuring you have an experienced attorney to assist you through this process is critical. Unfortunately, many assume they can navigate this process on their own and forego having an attorney review the document, which can lead to a number of issues if something within the contract is unclear or open to interpretation. As such, this can put the integrity of your contract and potentially your business at risk.
If you are a business looking to create solid, legally binding, and enforceable contracts, it’s imperative to connect with an experienced attorney with AB Law today. Our firm understands that this process can be incredibly difficult to navigate, especially when the terms of the contract are complex or the other party is uncooperative. As such, you can rely on our team to help you through these difficult times. Contact us today to learn more.
