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3 effective strategies for preventing contract disputes

On Behalf of | Jul 29, 2021 | Business Litigation

An Oregon contract dispute may take time and money away from a business, and the chance of a contract dispute arising at some point is high. However, many contract disputes could have been avoidable, had businesses drafted their contracts carefully and took other steps to ensure their validity.

Per Inc.com, business owners may be able to lessen the chances of finding themselves and their companies embroiled in contract disputes by taking the following three steps.

1. Have all contracts notarized

Having a notary present when contracts undergo execution is important. It raises the chances of everyone who signs the contract reading it all the way through. The notary’s presence also gives businesses something to fall back on if any of the parties who sign the contract try to argue they never did so.

2. Finalize the budget before starting the work

Many contract disputes involve disagreements relating to project costs or payments. Business owners should be as thorough as possible when it comes to outlining a project’s budget, who is responsible for handling specific expenses and so on.

3. Consider the future

A contract should also address potential future variables. Does the contract end at a certain time, or does it renew automatically every so often? Does the contract become void when someone quits or passes away? Accounting for these and other variables may lower the chances of anyone questioning the contract’s intent.

Ultimately, contracts should be as clear as possible and leave nothing open to interpretation.

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