WHAT IS Contract Negotiation, Drafting, and Review?
Many people avoid business negotiations at all costs, trying to prevent the uncomfortable
discussions of obligations and costs for services. It’s easy to assume that quick agreements will
save you time and money. Unfortunately, this is not the case, and small oversights can quickly
turn into lengthy legal disputes. For this reason, contract negotiation, drafting, and review by an
experienced legal professional can save you time and money.
Contracts and business agreements are relevant to all industries. Where there’s a payment and
a service, there’s a contract. Contracts are also not limited to written agreements. Many
individuals enter into verbal contracts, without even realizing their binding nature. To protect
yourself and your establishment, it’s necessary to do the legwork upfront before entering into
Contracts and business agreements also vary by industry. In construction, for example, there
are fixed-price and cost-plus contracts. Choosing the right type of contract depends on the
flexibility of the project and the time constraints for making decisions. As construction projects
are notorious for hidden costs and missed deadlines, having a proper agreement for the project
is invaluable in preventing legal disputes.
Construction is also an area where we often hear of contractors disappearing, starting costly
projects and then not following through on their commitments. Contracts help to prevent
businesses from being ripped-off by contractors, protecting both the business and the contractor
within the agreement.
Another industry where contracts can protect the business and the service provider is
employment law. Many employees are unaware of what their employment agreement entails,
and only consider these documents when disputes arise. Employment lawyers can help both
individuals and organizations entering into contracts, advocating on their behalf to receive better
agreement terms and conditions.
In business law, negotiations are often necessary to establish partnerships and agreements
between companies. Knowing what to ask for, when to ask for it, and how to keep the ball in
your court and quickly resolve disputes, are all advantages that an experienced lawyer can
provide. Lawyers can help you find competitive alternatives that increase negotiation flexibility,
and also bring the right questions to the negotiations table.
At Pihl Law Corporation, we have extensive experience in contract negotiations, drafting, and
reviews. We can help you put together the information you need, and also advocate on your
behalf in disputes and negotiations. We build contracts that are fair and enforceable, promoting
smooth partnerships and business agreements.
Contact us to book a consultation.