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Why reviewing the general conditions of a contract is important

On Behalf of | Dec 18, 2017 | Uncategorized

It is common for businesses to sign contracts in Missouri without paying much attention to the general conditions that are contained in the fine print. It is important for businesses to take the time to review the general conditions that are contained in the contracts before they sign them. There are several important provisions that may be contained in the general conditions and that might lead to disputes and problems.

The provisions for delays that are included in the general conditions of the contracts are important. It is important that subcontractors and contractors make certain that they will be able to secure extensions if they need them. They should also avoid signing contracts that state that they will receive no damages for delays that happen.

Contractors should also pay attention to the time limits that are placed on their ability to file claims. They should make certain that the times that are prescribed will give them enough time to act. People should also look at the payment clauses. Many contracts say that the subcontractors will be paid when the contractors are paid. However, if the contracts say that the subcontractors will be paid if the contractors are paid, the clause could be a problem.

Before entering into a contract for work on a commercial development, it is important for the parties to review the provisions and to understand what they mean. Experienced business and commercial law attorneys may help their clients to understand the various provisions and may work to negotiate clauses that are more favorable to their clients. A careful review of contracts before signing may help to prevent contract disputes that might otherwise arise. If a dispute does happen, business and commercial law attorneys may advocate for their clients in an effort to help to protect their financial interests.