Category: Risk

A more reasonable limit: offer alternatives

One of the hardest items in a contract to draft effectively is any limit on your liability. Some of the reasons are: they get a lot of focus in the courts who interpret them strictly i.e. the court will only allow you to rely on a limit if it is

Read More »

Remedies for late payment

You can use your contract to describe what you want to happen if something happens which is outside the original contract: you can include delay damages if the provider is late you can include a mechanism to change the scope if the client changes her mind you can include a

Read More »

Certain terms in your contract

When writing your contract, you should create clauses which are certain. It is one of the five essential elements for a binding contract (see What You Need). The courts will not enforce  a clause or term if they cannot be sure what it means. Limiting Your Liability In Trebor v

Read More »

Review your contract: risk

The final element in my STAR analysis is Risk. Risk v Reward When reviewing your contract, you need to strike a balance between risk and reward (harm v benefits). Risk is inextricably linked to price and cost. If your deal seems too good to be true, it often is! In

Read More »