You’re About to Sign a Contract, Have You Reviewed the Fine Print?
{1:35 minutes to read} Several of my more savvy clients have heeded my warning and have come to me recently to review agreements before making important decisions. These clients want to know the key contract terms and the ramifications of default or early termination.
Among the types of contracts I am asked to review on a regular basis are leases, utility and service contracts and supply agreements. Typically, clients focus almost exclusively on price. If the price is better than what they have been paying or what else has been offered, their instincts are to sign the contract. Long-term agreements can be harsh. The penalties for early termination are often excessive and the “attractive” pricing that caused them to sign the contract in the first place often prove more costly than alternatives in the later years of the contract term. A good attorney will not only review your prospective contract but will review your current contract to make sure that it has or will terminate without penalty.
Savvy clients also consult me during the early stages of evaluating new business opportunities. Although nothing may be signed at this early stage, establishing the terms of an agreement, even verbally, often makes it difficult to change later in the process. I look to close deals for my clients, not break them up. By involving me in the early stages of evaluation, I can protect my clients’ interests and negotiate more favorable terms – often ones that will save or earn my clients thousands of dollars.
Having me review your agreements at an early stage will almost always cost far less than the economic benefit you will receive or the cost of litigation if you are sued.
If you are considering entering into an agreement, don’t wait until it is too late. Let me review the agreement and outline the key terms, important dates and your other rights and responsibilities. Call Levine Law, LLC at 516-921-6700 before you sign that important agreement.
Harlan Levine
Tel. (516) 921-6700
[email protected]
