Ten Things You Absolutely Must Check for,
Before Signing any Contracts or
Entering into Any Type of Business Agreement
by Peter Wink

Here's a startling fact - while you're reading this, thousands of unsuspecting businesspeople are signing contracts and entering into poor business agreements, causing them to spend far too much money on computers, fax machines, copiers, office supplies, cars, real estate, materials, consultants, and every other type of business product or service you can imagine.

Throughout my experience negotiating contract after contract, I've found 10 things that every businessperson must check for before signing on the dotted line:

Price of the product:

Always check to make sure the price written on the contract is the one you agreed to pay.

Discount rates:

Make sure the contract or agreement clearly spells out the discount rate that you previously negotiated. There are two types of discounts you can ask for. The first are called Cumulative Discounts. This means the quantity for each order is added for a specified time period and the discount will be based on the running total. I highly recommend Cumulative Discounts. And the second type of discount is called Per Order Discounts. This means you only get a discount based on the quantity you purchase at one time. (All previous purchases are irrelevant.)

Payment terms:

Make sure the contract or agreement states the agreed upon amount of time you have to pay your suppliers for their products and services. Ask for as long as you can. If you're selling to the "other side", make sure the contract or agreement also states how many days the "other side" has to pay you for products and services.

Indemnity clauses:

Make sure your contract or agreement contains an indemnity clause stating that if the "other side" is in breach, or illegally enters the agreement, they're responsible for all damages. By not having an indemnity clause, you open yourself up to paying ridiculous court and lawyer fees!

Guarantees:

Make sure the contract or agreement contains a written guarantee. These is a formal promise or assurance that the product or service will meet the promised or implied expectation. A guarantee will usually state the refund, return, or maintenance procedure.

Down payments:

If you're giving or receiving a down payment for a product or service, make sure the amount is correctly written on the contract or agreement.

Duration and expiration date - Always make the contract or agreement states the length of the contract, including the exact starting and expiration date.

Handling damages or faulty merchandise:

Make sure the contract or agreement has a clause stating the terms for handling merchandise that's delivered broken or contains imperfections.

Cancellation:

Always make sure that the contract or agreement contains a clause stating cancellation procedures. This means that if either party wants out of the agreement, they must give the "other side" proper notice. Always give yourself an out just in case the agreement isn't working out.

Signature:

Make sure that the contract or agreement is signed by a party with the proper authority. Always make sure you receive a copy.

By checking for these 10 items on every contract or agreement, you will protect yourself from spending too much money on products and services, or entering into poor agreements.

Article by Peter Wink, author of "Negotiate Your Way to Riches". His book will teach you 36 ethical and 5 unethical
negotiating strategies, how to gather inside information about companies, trust and confidence-building techniques,
and more: http://foreverweb.com/cgi-foreverweb/roi_n.cgi?IM8860_ktjaug16q