What should you look out for in a Business contract?
- ISAAC SSEKISAMBU
- Apr 26, 2024
- 1 min read
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( Don't be too excited — skip this post if you don't have time )
Nature of work ( what's the scope of the work and whats outside the scope?)
Reporting mechanism; who do you report to?
Payment clause; How much are you paid, what's the mode of payment, when are you paid? What happens if there is a delay? How long should the delay be?
Dispute resolution clause; when conflict arise, how are they solved? Which court can you take the matter to?
Copyright clause; who owns the rights to the work done during the contract? What would be considered a violation of the copyright?
Disclosure agreement; What can be disclosed and what can't be? How can the material be secured?
Termination clause; Who can terminate and is there any notice and notice period?
Definition clause; Every contract must have this clause such that you understand the key terms therein.
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I read that you can upload your contract on ChatGPT incase you don't have a lawyer and it can interpret it for you.
No excuse for bein scammed in this day and era.
Thanks for this insightful article.