The following checklist highlights the major points to consider when entering into a contract for goods or services.

SCOPE

  • Description of Services
  • Goods or Products to be Supplied or Purchased
  • Term
  • Renewal
  • Termination
  • Default
  • Changes/Additions
  • Incidental Services

PERFORMANCE

  • Time/Schedule
  • Indemnity
  • Insurance
  • Warranties
  • Specific Remedies in Event of Breach
  • Returns/Charge Backs

PROTECTION OF IDEAS & DESIGNS (INTELLECTUAL PROPERTY)

  • Rights to Product/Design Created
  • Confidentiality & Nondisclosure
  • Non-Competition

“LEGAL” ISSUES

  • Limitation of Liability
  • Choice of Law & Venue
  • Dispute Resolution (arbitration/mediation)
  • Liquidated Damages
  • Attorney’s Fees
  • Modifications
  • Events or Conditions Outside the Reasonable Control of the Parties