What To Check Before Signing A Contract

Signing an agreement is never the grand party that it is cracked up to be and it can get a tad bit tedious but no matter what type of agreement you are entering into, employment, rent, loan or even an insurance, you must make sure that you are not being taken for a ride. So today we have assembled a few tips for you to follow before putting pen to paper.

First thing you must check before entering into any agreement, whether it be a domestic building contract or an employment agreement is the names of the parties to the contract. Make sure that you know who you are binding yourself with and double check the spelling. If the name of the company looks different than double check on that as well. It could be a slight oversight such as this that could have you thrown out of your brand new apartment.

Another must do is checking the terms and conditions of the agreement and responsibilities to which you are agreeing. Whether a domestic building contract or an agreement with a vendor, there will be certain details which you would have agreed to beforehand and you should make sure that it is those terms that have been written down rather than simply taking their word for it. Make sure the details are what you agreed to and that their responsibilities have all been written down, this way there is a higher degree of holding them to their end of the agreement.

When checking the details of the agreement, also check the liabilities and remedies, essentially what you will be responsible for and in case the parties will not be able to hold up their end, what the consequences will be. Find out the possibility of claiming damages for any losses and what would happen in the event that you would want to cancel the agreement. Knowing the consequences of the agreement is an essential factor. However, you may think that this might be a little bit out of your depth as you are essentially looking for loopholes in the agreement. So thus another important tip is to have the agreement looked at by a lawyer. This will ensure that you do not enter into a legally binding document without checking all the facts and you will enter into the agreement after taking the advice of a legal counsellor. So the next time you find yourself signing an agreement, make sure to remember these little tips.