Contract review checklist

Contract reviews are key element for attorney to mitigating risks and attaining contracts that are favourable for your Clients. During contract reviews, attorney must ensure the alignment between contract and understanding as well as agree upon of this agreement from your Clients's business. Contract review checklist can help attorney maintain an organized procedure and increase accuracy and time-efficiency.

1. Parties

Does the contract specify the parties involved and is the person or people signing the agreement legally authorized to commit to the agreement?

2. Scope of work

Does the contract clearly explain the scope of work?

3. Acceptance

Has that offer been formally accepted?

4. Consideration and responsibility

Does the contract clearly state that each party will get in return for fulfilling the promises made in the contract?

And the parties responsibility?

5. Delivery (with purchasing contract)

Doas the contract specify relevant timetables, such as dates for delivery?

6. Payments terms

Does the contract clearly explain the payments terms and conditions?

7. Expiry dates

Does the contract specify the length of the agreement? Or the expiry dates?

8. Renewal Terms

Does the contract contain a renewal provision?

9. Penalties or Fees

If there are any penalties or fees assessed if certain actions are taken or not taken, does the contract clearly state what has to happen for the penalties or fees to apply?

10. Insurance and warranty

Does the contract mention the insurance and warranty?

11. Default Clause

Does the contract list specific circumstances, actions, or failures that will be considered breaches of the agreement?

12. Termination Clause

Does the contract define the circumstances that allow the other party to terminate the contract, or does the contract indicate what other options will be available to protect the interest of the non-breaching party?

13. Confidentiality Clause

Does the agreement include a requirement that both parties protect confidential information, and is there a penalty for not doing so?

14. Arbitration Clause

If arbitration is required, are rules clearly stated for selecting an arbiter from reputable organization; for example, the American Arbitration Association?

another good and advisable alternative for dispute resolution is to have from the beginning an DRBs, which are technical committees that make recommendations to reach an agreement and avoid resorting to legal claims.

15. Choice of Law Clause

If another state's law governs the contract dispute, has the ministry considered the difficulties this could create, such as finding an attorney licensed to practice in that state?

16. Limitation of Damages

Does the contract limit the type or amount of damages the ministry can recover?

17. Change Orders

18. Indemnification and Liability

Understand the extent of indemnification and liability for each party and Check for any limitations of liability.

19. Subcontractors and Suppliers

20. Safety and Compliance

21. Force Majeure

Check for force majeure clauses that address unforeseen events and their impact on the contract.

22. Intellectual Property

Understand the ownership and use of intellectual property related to the project.

23. Notice and Communication

Review the notice provisions to understand how and when communications should be delivered.

24. Entire Agreement and Amendments

Check for clauses stating that the written contract contains the entire agreement between parties and that any amendments must be in writing.

25. Review Legal Counsel

When in doubt or dealing with a complex contract, consider seeking legal advice to ensure understanding and protection.

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Source: https://www.linkedin.com/posts/mostafasawy_sawyabrsays-activity-7087264791685214208-Jhbk?utm_source=share&utm_medium=member_desktop