Keep these important tips in mind before you enter into a contract:
1. ALWAYS READ A CONTRACT CAREFULLY – never skip the “fine print” because it may include important information that may not be in the best interest of your business.
2. NEVER ASSUME YOU KNOW WHAT IS INCLUDED IN A CONTRACT – unless you or your attorney has drafted it.
3. TALK WITH AN ATTORNEY –
• BEFORE you sign a contract that your attorney has not reviewed.
• To understand what you are being asked to agree to.
• If you are asked to sign a contract that you are not familiar with.
• If you are asked to add or change provisions to your contract.
4. YOU MAY NOT NEED TO CONSULT WITH AN ATTORNEY EACH TIME YOU ENTER INTO A CONTRACT – if you use a standardized contract that has already been reviewed and approved by your attorney.
• If your contractual obligations require you to change insurance coverage
• If you are hiring independent contractors or Subcontractors
E.I.F.S. has an in-house lawyer who may be able to help you with your contract needs. Contact us to discuss how your contracts may effect your insurance policies.