When you hire a Winter Haven parking lot paving company, you will be asked to sign a contract. This piece of legal document will be your only ally in the project you are working on with the company. This document is going to be your protection, so you need to understand it—from top to bottom and down to the very last detail.
Check If All The Names Are Correct
The names and addresses of everyone involved in the project should be written down in the contract. If there are discrepancies in the names and contact information, have these remedied immediately.
Why is this important? The contract will only be legally binding if the names of the parties involved are verified. Otherwise, the contract can be disputed and questioned.
Mind The Intent
The contract should specifically write down what the intent of the document is. The line should go something like this: “This contract is drafted with the intention of forming a partnership between Company A and Company B.”
The intention should be very clear because this is important in any legal matters that might arise in the future. The terms and conditions in the contract will be based on the specified intention.
Double Check The Milestones, Deliverables, and Payments
These are the details of the contract that can either put your business down the ground or boost its sales up.
When you enter into an agreement with a service provider or contractor such as a Winter Haven parking lot paving, there is an output being expected from that party, right?
This is the part where you specify what kind of milestones, deliverables, and payments are expected from the company. Even the due dates of the deliverables should be written down so that all parties will be in agreement that there’s a timeline that needs to be met.
Know The Cancellation Policy
Every contract has a cancellation policy. This part of the contract will specify under what conditions will you be allowed to cancel the contract or defer from paying the contractor. When deadlines aren’t met, will there be any penalties?
Will that be a ground for the cancellation of the contract? How about when a contractor did not use the agreed-upon materials for the Winter Haven parking lot paving? Is this a reason enough to cancel the legal document?
It is important to understand the contract and all the details contained in it. This will protect both parties’ rights and will serve as a guide to entangle one’s self from future impasse and disagreements.