So, you have finished checking out, inspecting, researching and negotiating Lakeland parking lot paving companies. Actually, you have already made up your decision on which company to choose and there’s a contract waiting to be signed. But, how do you make sure you’re not hoodwinked into signing a contract that would not best serve your interest? What are the things you must scrutinize before signing a contract that is worth thousands of dollars on your part?
Prices and details of the work
First, check how much you are paying the contractor. Is this the price you negotiated? What are the details of that amount? Are assessment and maintenance included? How many regular checkups will be done before the insurance expires? Keep in mind (or better yet, list down) the things that you and the contractor have agreed upon. Check the contract against this list, and make sure all the terms of your negotiation are there–free service for the next three months, waived assessment fee, discount on materials, etc. Remember, if it’s not in the contract, then it doesn’t exist, no matter how much you insist you verbally agreed or opposed to it.
If you don’t want to encounter problems with your commercial tax in the future, check your contract if the taxes in the services have been withheld or were part of the total amount. Some contractors omit tax information from the contract, so they can have the choice of not declaring that particular project once it’s time to file their taxes. When this happens, you might have to double think about entering into an agreement with that Lakeland parking lot paving company. Surely, you don’t want to hide anything from the internal revenue guys? Be clear to the company that you’re looking for an honest contract with nothing to hide.
Your contract should include the company’s information–the name, the address, the logo, the registration number, business permit, etc. This will ensure that the contract was entered into by a legitimate company. Also, in this way, you know how to contact the company just in case there was a problem with the contract. And in the event that a violation of contract has been made, then your lawyer would know where to send the complaint.
Warranty and insurance
You would want an insurance and warranty coverage, of course. Most contractors would include a limited time of free service and maintenance checkup. You may want to indicate in your contract what dates are these, so that your contractor will be duty-bound to attend to your paving needs.