Contracts are legal documents, so it is vital that you always take care to check what you’re signing up to. As a minimum you should:
Carefully review contracts that are presented to you by another party, as the terms might have been drafted from the other party’s perspective rather than yours.
Don’t assume anything. Ask for clarification on definitions and the meaning of terms to make sure your understanding matches that of the other party.
Get professional help from a commercial solicitor. Even if you are able to thoroughly review the contract, it can be extremely tricky to identify things that might be missing from a contract.
If you have any more commercial law questions, please contact us today.