The Trouble with Boilerplate Contract Agreements
In a world of instant gratification, it seems only natural for entrepreneurs to rely on the internet for help with running a small business. From ordering bulk supplies on Amazon to building a free company Facebook page, there’s numerous ways to cut costs and manage operations, without scarifying the integrity of your company. Of course, there are certain aspects of your business that require the type of professional guidance you simply cannot find online. One of these areas is contract drafting.
Specialized attorneys offer contract drafting services to ensure that the terms and conditions of an agreement between two or more parties are clearly stated and follow government and state regulations, should a dispute arise. There are four primary components that make up a legally binding contract agreement, including:
- Acceptance of Both Parties
- Mutual Agreement
Although downloadable contract templates (whether free or available for a low fee) may include these required elements, it’s possible these forms are missing other invaluable features specific to your situation or business relationship, including
Clear and Required Language: Too often, boilerplate templates include ambiguous language or omit statements and/or information altogether that are required by state laws, which can get used against you in court.
Protect Owner’s Rights: When choosing a template specific to a sale or business agreement, it can be difficult to find one that protects your company’s best interests, especially if it’s filled with pointless jargon. You could be agreeing to conditions that don’t apply to your situation or terms that place you under unnecessary obligations.
Conditions for Settling a Dispute: When drafting a contract, it’s important to consider the possibility of a breached agreement. Now, imagine that your signed contract doesn’t include a mutually agreed upon protocol for handing disputes, such as mediation or arbitration. Not having this essential information included in the contract could mean you face serious court and lawyer fees down the road.
Whether you’re currently using a boilerplate contract for your business agreements or you’re interested in pursuing professional contract drafting services, contact KTF Law Firm today. From contract drafting to reviewing your current agreement forms, we tailor our services to meet your company’s needs. And should a breach of contract occur, we’re here to ensure your rights are protected and you receive experienced representation to win your case. Contact us today to learn more!