Many people think contracts hard to read, long and filled with legal jargon
Name and discuss some steps that you can take to empower yourself, before you sign such a contract. Do you have a contract horror story? What did you learn from this situation
1. Perform a background check.
2. Verify that the contract identifies your business, and that you are licensed and registered to do business.
3. Know the source of project funding.
4. Read the payment terms.
5. Understand retainage terms.
6. Understand the indemnity arrangement.
7. Watch for terms that waive workers’ comp immunity.
8. Consult your insurance agent about limits.
9. Verify the contract does not violate state law.
10. Read the contract.
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