Traditional contracts can have several pitfalls that can be avoided through the use of technology. Think about what a contract traditionally has been: a single, lengthy, paper-based document that is time consuming to create and, therefore, does not get updated regularly.
Contracts can be interpreted in vastly different ways. From verbal contracts, called express contracts, to implied and quasi contracts, project managers need to plan for all possibilities.
When setting up a written contract, there are several basic types to keep in mind:
3 tips for contract drafting - ensuring you have effective master services agreements (MSAs)
Seriously don't. No matter how efficient it may be it is not a good practice. But before the commenting begins, allow me to explain.
In our increasingly technological world contracts are becoming more prevalent and more complicated. Because it often isn’t practical or necessary to hire lawyers, many of these contracts are being written by business owners and their employees. How well they write those contracts can determine the survival and success of the business. With that in mind, these three rules of contract drafting can help you ensure that your contracts will protect your interests and avoid costly disputes.