Business Contract Checklist This Business Contract Action Plan is created to help you in signing your business contracts

effectively. This action plan lists items and topics to be enlightened in a typical business contract, including: Description of entities signing the document; Description of products or services embraced by the contract; Description of payments to be made; And much more Business Contract Checklist: Clearly and correctly identified parties signing the contract: including their official names, their business details, type of business entity, state of incorporation, etc; Description of the product or service to be provided by one of the parties, in all essential details such as relevant quantities, quality, supportive services, installation, different options, etc; Exhaustive statement of the price for the product or services, including additional charges to be added (and reasons or conditions for additional costs). Taxes to be paid for benefit of the state; Explanation of charges for freight and delivery services, along with insurance on transportation to cover risk of loss; Agreement upon the timeframes (timetable or target date) and target place for the products or services to be delivered, including other duties of each party. Limitations on liability; Warranties and their terms complying with special government laws that apply to warranties; Due date for payments and payment delay charge (penalty) if suitable; Possibility to request some order changes if appropriate, including a minimal term for requested changes to be enacted, procedure of changes approval, and a charge (penalty) for changes; Possibility and conditions of contract termination by one of the parties (how the contract can be terminated and why it can happen reasonably), along with contract cancellation fee (for example to be paid by the customer if he rejects the order without specific reasonable grounds), or other guarantees of compensation for the involved parties (protected rights of the parties); Official business addresses of the parties signing the contact. Titles, names and positions of their representatives (to know whether they possess a proper authority level); Rules (restriction and agreement) on any possible disclosure or utilization of any confidential business information covered by the contact; Clarify all possible legislative questions on ownership, trademark, copyright and patent matters concerning everything to be produced or used under terms of this contract. Let the contract to be reviewed by a qualified attorney to make sure on legal correctness of these points; Indemnification agreements: certain remedies and requirements for compensative payments or actions if the contact non-performance or underperformance happens due to some reasons. It is advisable here to anticipate as many of potential problems as possible; Arbitration clause and venue to lawsuits; Notarization as appropriate;