Contracts are a vital part of any business, but extra scrutiny is required to make sure your business’s standard contract provides the legal protections required to ensure payment and adheres to disclosure requirements in state law. Make sure your boilerplate contract is doing everything it needs to for you and your business.
Specific Disclosures for Specific Industries
Each industry is different, and so are the laws regulating that industry. Navigating the ever-changing regulations can be difficult to do while maintaining your business. An attorney experienced in drafting contracts will be able to help tailor yours to your business.
There are certain safeguards that can be included in your boilerplate contract to ensure your clients are providing prompt payments. In some cases a contract can provide for interest if an invoice is due and not paid. A contract lawyer will know what rate is acceptable under Maryland law and what time frame is appropriate, as well as the best language to use in the contract.
Protection from Legal Action and Recuperation of Fees
If a customer does not pay their invoice and legal action is required, a provision in your invoice contract can qualify your attorney’s costs and fees as a recoverable expense. This is a vital piece of protection to include in your contracts that ensures you do not end up with an abundance of costs when settling a contract dispute.
Contact The Law Offices of Kirk Halpin & Associates, P.A. Today
Practicing together in Howard County since 2004 – first in Columbia and now in Clarksville, The Law Offices of Kirk Halpin & Associates, P.A., is here to help with a variety of business, real estate and finance law issues. We have a long list of practice areas, a long list of industries served, and a long list of success stories and recommendations in helping businesses, no matter the size, grow, reach their goals, and surpass them. If you’re seeking counsel on a business, real estate or finance law issue, always feel free to contact us via our contact page or call us at (410) 531-1700. While you are here, remember to follow us on Facebook, Twitter,Google+, and LinkedIn to stay up to date with our blog and the latest happenings at our firm.