Many attorneys will review contracts for a flat fee. When deciding whether to spend the money to hire an attorney for your contract review, knowing about the complications of contract drafting and execution can help you understand how a flat fee contract review can save you money in the long run. Here are ways an attorney can provide you value for a flat fee contract review:
- A professional reader will review all of the legal terms. Most contracts are very lengthy and frequently contain errors due to cutting and pasting from various sources. A professionally trained attorney knows to catch these mistakes, which can be as common as a spelling error or as egregious as shifting risk, or terms that materially alter the agreement. An attorney will also be able to discuss the contract with you to provide confidence that you are getting exactly what you want out of the contract.
- An attorney can perform a thorough background check. If you are entering into a contract with a business or even a one-person company, reviewing their public history may help predict shortcomings in performance under a contract. A search of public records will show whether a business is actively licensed to perform work as a contractor, and to verify the status of workers’ compensation premiums, bonding, liability insurance, department of revenue accounts, outstanding lawsuits and outstanding warrants. These are critical elements when contracting for business and/or services.
- An attorney is qualified to determine if the contract is even legal and binding in the state in which it is entered. State statutes have specific requirements regarding contract terms that may make certain terms in the contract unenforceable if they do not comply, and may compromise a contractor’s rights. A flat fee contract review will include an attorney’s professional advice about the legality of the contract and its terms.
- A flat fee contract review can also include an interim agreement. If you need work to start immediately, but want the time to come to an agreement on the final terms of a contract, an attorney may be able to help create and write an interim agreement. This agreement can be invaluable should there be any amount of time where work is being performed, but no written contract has been signed by either party.
Remember that signing a contract blindly can subject you to uncontrolled risks. Contact the experienced flat fee contract review attorneys at Smiley Law today to address all of your contract issues.