It is always better to have your contract in writing, no matter how small the job is. Any contract that involves a significant risk to your business should always be carefully considered and put in writing. This is advisable even if it means delaying the start of the work. A written contract is essential:
- When the contract price is large enough to make or break your business if you don’t get paid
- Where there are quality requirements, specifications or specific materials that must be used
- Where there is some doubt that the other part may have enough money to pay you
- When you must have certain types of insurance for the type of work you are doing
- Where the contract contains essential terms, such as a critical date for the completion of the work before payment can be made
- Where you or the other parties need to keep certain information confidential
- When it is required by your insurance company for professional indemnity purposes
- Where there is a legal obligation to have a written contract under legislation.
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