Why You Should Have Your Contracts Reviewed?

Contracts serve as a binding agreement between you and another party, so it’s essential to ensure that you fully understand a contract and what it comes with. Having a contract reviewed can be an invaluable part of the negotiation, with a lawyer able to offer assistance with ensuring you are fairly represented and have the proper protections you deserve to ensure the contract is mutually beneficial. Alex Barthet of Barthet Construction Law Firm has some advice about why contract reviews are so critical.

Leeway to Argue and Contest Parts of a Contract

Lawyers are experienced with contracts and know what specific areas to look for and single out. With a knowledgeable professional reviewing your agreement, you can better identify areas that another party can use to contest particular terms and conditions with the other party. A contract review can help provide more places where an individual or business can challenge different aspects of a contract and argue various points to ensure that a contract benefits not only the other party, but you as well.

The Most Common Addendums on a Contract

There are a variety of ways reviewing a contract can allow you to add aspects of a contract that give you the right to contest the contract. Alex Barthet points out some of the most common addendums concerning his particular field, focusing on subcontracting.

• The right to stop work if receiving pay allows workers to contest companies looking to withhold payments.
• Increasing the time frame and limiting the risk of defaults and back charges can help to protect individuals and contractors from financial issues.
• A clause relating to the escalation of the price of materials can help protect contractors from rising prices on materials as prices change.

The Importance of Material Price Escalation

One of the biggest points emphasized by Mr. Barthet is the importance of a material price escalation clause. When contracting with a business or individual, the price of goods necessary to fulfill the contract can change between the time of signing and when the work takes place. Certain building materials can often see significant price increases between when a contract is signed and when the work takes place. Adding a clause related to material price escalation can relay the potential for prices to change in that time frame.

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