What do you need to know before you sign a contract? Watch this video to find out, or have a quick read below.
We don’t want you to lose money by being silly with your contracts.
So here’s the deal…
The project process begins with tendering or bidding.
You win the tender by putting together a quote and proposal for the scope of work.
This can be a time-consuming process, and sometimes clients will just fish for quotes.
You can’t avoid this.
If you win the tender the client will give you a contract.
You need to sign the best contract.
They will ALWAYS give you the most aggressive contract they can… Because they want to push risk down the chain.
This is why you need to READ EVERY CONTRACT CAREFULLY and understand the clauses that count.
When you go through a contract you need to know which clauses are risky.
You also need to BE DUBIOUS OF EVERY CONTRACT you’re given.
While going through the contract prepare a clarification/negotiation document.
It’s a document that presents which clauses you aren’t happy with. This makes it easy for the client to go through. Be thorough but succinct when you highlight what clause you want to remove or amend. Don’t forget to explain WHY you want it amended/removed. After this, you’ll go through the negotiation dance.
But being professional will make the client more confident that you’re legit and know what you’re doing.
And one last thing…
Be ruthless when you check the final contract
50% of the time your specifications haven’t been included.
For more contractual advice, Quantum Contract Solutions is here to guide and assist you through everything contract related. Let’s reduce risk in your contracts and save time and money, just click this link to get our FREE case study to show you how clients just like you are doing it.