Flat Rate Contract Review | The Importance of Contract Review

Just because a contract is sitting on your desk in front of you that doesn’t mean you have to sign it right away! Anyone who is planning to sign an agreement should definitely understand what the contract says. Assessing the risk associated with signing off on a contract is equally important. At Stockman & Poropat, PLLC, we offer a flat fee contract review for our clients! Having an attorney review your contract before you sign it is the best way to protect yourself and your business.

During our free consultation, our team will discuss the type of contract you’d like us to review. We can answer any preliminary questions you may have, too. Then, based on the information you provide we can review, modify, amend, or edit the contract for a flat rate! 

When we review a contract, we closely examine all of the language contained in the agreement and identify any clauses or sections that might be an issue. If we find any details in the contract that may not support your intentions or interests, we’ll let you know! Sometimes clauses can be legitimately negative if not modified, and other times there are details that just require awareness. Overall, we want to ensure that you and/or your business are protected against any potential risks, as much as possible. 

Isolating Risks or Issues Within the Agreement…

Of course, part of our flat rate contract review services includes annotation. If you so wish, we can not only isolate any risks or issues within the agreement, we can make specific notes. Once we’ve made our suggested edits and/or amendments to the contract, you can then present the modified agreement to the other party. It’s common for major contracts to go through several rounds of edits and exchanges between the parties before a final contract is reached and agreed to. 

Now, what’s the point of having an attorney review your contract? For both individuals and businesses, it’s essential that you protect your interests! Contracts are often super complicated, written in complex legalese, and contain real-world implications. A lawyer can break down exactly what the agreement states, how it will function in actuality, and help you decide whether or not the terms are something you truly want to agree to. 

Knowing what you’re signing and how it will impact you or your business is a no brainer! For sure, there are instances where negative implications are worked into the fine print of a contract. Our flat free contract review is meant to give you the ability to make an informed decision regarding your deals and the terms of the contracts you sign!

Your Contract Should Adhere to Your Business Objectives

Our team will speak with you about your business objectives and the results you’d like to achieve. Other items of discussion may include what deals you’ve had in the past with the other party or parties connected to your contract. You’ll rest assured that after the review your agreement is a true reflection of the deal you’re interested in making with the other party. If there are any non-standard terms, discrepancies with the contract’s structure, or inconsistent details – we’ll point them out! And, if there are any terms that could put you and/or your business at risk, whether on the legal or business side, our review will reveal that. Plus, if there’s a need for further negotiation with the other party, we can work with you to see that through, as well. 

The contract review process gives you the power to confirm that your contract has all the necessary components. Additionally, you’ll be able to confidently understand that all the terms are accurate, error free, and acceptable to both concerned parties. Is a contract review less expensive than a breach of contract lawsuit? Most likely, yes! Don’t just sign an agreement without reading and/or knowing what you’re signing off on. A comprehensive contract review allows you to significantly reduce your financial and legal risks, which ultimately protects your business interests. 

Get Security and Accuracy With a Contract Review

When anyone signs a contract, they’re legally agreeing to be bound to the terms specified in that agreement. That means, if either party doesn’t stick to the terms, the contract is breached. If that happens, legal consequences are likely to occur. A solid contract gives the parties involved the security they need to thrive and benefit from the agreement therein. 

With our flat fee contract review, clients can get rid of any provisions that are outdated or opaque. Also, you can eliminate misunderstandings and determine where things could be improved. Anyone who chooses not to go through the process of contract review is opening themselves up to major risks, damages, and a loss of both money and time. 

Some things we want to stress:

• You’re not required to sign a contract without a review. 
• Contracts are negotiable – they aren’t non-negotiable! 
• Anything referred to or described as standard language also has to be reviewed with scrutiny. 
• If you don’t understand what the contract says, don’t sign it! 
• The cost of a contract review is worth your time and money. 

For the flat rate contract review, we’ll carefully discuss the confidentiality, indemnity (security), and termination provisions within the agreement. Another aspect of contract review that requires close attention is dispute resolution. Our aim is to make a contract with clear terms and language that’s not easily interpreted. To avoid disputes! We’ll make sure you know what could happen if the contract is breached, as well as cover the details of the agreement’s termination and renewal provisions. 

Don’t take on unnecessary risk! Let us review your contract. Contact us today for a free initial consultation and we can discuss pricing for our flat fee contract review services. 

Up next we will be discussing What Are the 7 Elements of a Contract?