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3 effective strategies for preventing contract disputes

| Jun 16, 2021 | Business Law |

A Pennsylvania contract dispute has the potential to take time, energy and money away from your business. However, there are several things you might do to help lower the chances of a contract dispute arising and affecting your business’s bottom line.

Per Inc., you may be able to minimize the chance of having your business embroiled in a costly and time-consuming contract dispute by taking the following three steps.

1. Use clear, concise language

When drafting your contract, try not to leave anything open to interpretation. If any language you use therein is unclear, you run the risk of someone questioning its meaning or intent. This could potentially lead a court or judge to call your contract invalid in the event that litigation arises.

2. Utilize a notary

It may also serve you well to have a notary present any time an employee or colleague signs a contract. This gives you something to fall back on if someone tries to argue that they never signed a contract. It also enhances the chances of everyone who signs the contract reading it all the way through.

3. Consider the future

You may also want to consider and address the future when drafting business contracts. More specifically, you may want to address if the contract self-renews on a particular date, whether you plan to revisit contract terms at certain intervals and so on.

You may feel eager to enter into a business arrangement with someone you trust. However, it may benefit you, in the long run, to put things in writing, rather than rely on a handshake.