Term and termination: Understanding how long your commitment to the vendor is vital. If you need to end the relationship because of cost or a business issue on your end, you want to be sure you have a way to do that without incurring a penalty.
Scope of work: Your vendor agreement should be clear about the scope of work you are contracting for, and any specific deliverables you are expecting.
Ownership of intellectual property: If the product or service you're purchasing includes any creative work, you should consider how the legal documents address ownership of that creative work.
Confidentiality rules: Sharing confidential information may be necessary for your services, and both parties should agree on nondisclosure terms.
Dispute resolution: Contracts can require parties to attempt mediation before pursuing legal action or specify arbitration as the preferred method for handling disputes.
For more information about customer contracts, visit us at Massachusetts Vendor Contract Basics.