Before you put pen to paper, make sure you know what you’re signing up to. Here are a few reasons why you should examine your next contract…
When it comes to signing a contract (any contract) it’s important to spend time to check the details – as they say, it’s all in the small print. If you have ever worked on a construction project, signing contracts becomes part of your everyday job – and because of that, you can sometimes fall into autopilot. Whether it’s scrutinised by a Quantity Surveying Professional or carried out by yourself, here are a few things to consider before signing a contract….
- It’s a legally binding document
- As soon as you sign that piece of paper, everything in the contract is now legally enforceable (even the typos). Blindly signing contracts can lead to huge misunderstandings with important details that could come back to haunt you.
- Negotiate
- If you think that the terms could be better, try to negotiate with a compromise. You never know what could happen and the worst they could say is no. Of course, negotiate within reason and have respect for the task at hand.
- Think of the positives
- Contracts are designed to offer support, guidance and direction for both parties. When reviewing a contract, try not to think of it as a list of potential problems or red tape, but more a plan for both parties.
- Prepare for the worst
- Hopefully you will never come across anything negative, but contracts allow you to prepare for the worst. Problems sometimes arise when two parties come together, but as long as your terms are right on the contract, you will be in a much better position in a court of law.
Looking over your contract is a crucial part of any construction project for all parties, but sometimes a second pair of eyes can save you time, stress and money down the line. If you would like QS Advisor Ltd to take a look over any vague criteria or difficult negotiations in your next contract, please get in touch: grant@qsadvisor.com
