Contract Terms Checklist

This contract terms checklist template has 6 pages and is a MS Word file type listed under our human resources documents.

Sample of our contract terms checklist template:

CHECKLIST CONTRACT TERMS When creating a legally binding contract, there are essential terms and elements to consider. These elements include the offer, acceptance, and legality of the contract, mutuality of agreement, and lawful subject matter. This checklist will help parties in a contract be aware of the standard business contract terms. It's crucial to note that not all the provisions in this checklist will be available in every contract. In addition, contracts may include additional provisions related to their subject matter. Identity of Parties When identifying the parties in the contract, you should know whether they are individuals or business entities. Suppose it's a business: state whether it's a corporation or partnership. Take note of the name of the person signing on behalf of the business and the signer's official title. Addresses of the Parties Each party should be aware of its principal place of business. Both parties should also inform each other of any address changes. Purpose(s) of the Contract Take note of the purpose of the contract. In most cases, business contracts are to build a good business relationship and define legal obligations or implications for the parties. Underlying Assumptions Underlying assumptions are when a party accepts the obligations and benefits of an existing contract from one of the original parties to the contract. Contract Terms Comprehend the fundamental contract terms, including: Payment due dates Taxes Interests In general Duties of each party Late fees Relevant quantities Lum, COD, sum, installments Rights of each party Relevant dates Relevant prices or dollar amounts Payment terms Warranties Warranties signify an assurance or promise from one party to another to verify that facts are reliable or authentic. Disclaimers