Important Clauses in a Contract

In a world of rapid change, running a business is harder than ever before. While the pandemic slowed some activities, many business owners have seen acceleration in business disagreements. Business misunderstandings that grow into disputes and legal conflicts are very real things which can negatively impact your business. Whether it is the high lawyer costs from contract disputes, the loss of time, or the effect on employee relationships, legal disputes wreak havoc.

A study released by the U.S. Chamber Institute for Legal Reform shows that the U.S. tort system’s commercial liability costs totaled $343 billion in 2018, and small businesses shouldered 53 percent of those costs. Lawsuits can easily break your budget, no matter what business you are in.

The best way to avoid the high cost of litigation for a simple business dispute is to proactively plan for issue resolution. It starts with inserting a dispute resolution clause into all of your contracts with customers, vendors, partners, agents, consultants, etc. By gaining agreement between the parties to resolve any issues through a non-litigious alternate resolution process, you can address disputes before they have a chance to cause chaos to your operations.

What Are Dispute Resolution Clauses?

Dispute resolution clauses establish the process by which parties intend to resolve any disputes that arise out of their contract. These clauses provide an alternative to litigation through advanced agreement on how to address issues when they ever arise.

Think of a dispute resolution clause as your lawsuit shield. Clauses can cover all forms of contractual business relationships such as vendors, customers, partners, and contractors. Specific clauses can also be used in employee contracts, such as employee handbooks. Ideally, you want to minimize conflict altogether. However, in an imperfect world, there is only so much within your control. However, as a business owner, it is important to shield your company from the high cost of litigation before it gets the chance to negatively impact your operations.

Making a Plan

As a business owner, you have a hectic schedule. The easy way to protect your business is through inserting an alternative clause (i.e. neutral dispute resolution clause) into all of your contracts. Just Resolve provides a standard clause that can be used with contractors, vendors, and clients  Just Free on: https://www.justresolve.com/wordpress/just-resolve-services/#conclause

Simply copy and paste it into your standard contracts to gain the first level of protection.

The investment of  a few minutes to include the clause in your agreement can save much time and money in the future.

Just Resolve provides a range of services and protection against costly litigation via NDR, from Just Free contract clauses to Protection Plans and NDR services to help business owners resolve disputes which break through the shields. We work with a wide variety of businesses, from small businesses to large companies.

Just Resolve is Your Reliable Resource

Just Resolve is here to help you resolve disputes easily and hassle-free. Issue settlement doesn’t have to cost you an arm and a leg. We are happy to walk you through all of your options to find what works best for your business. Even if you want something small like a contract clause for free, we have you covered.

For more information on Just Resolve and all of our services, contact us today at (855) 915-1421. You can also fill out this form and we’ll get in touch with you shortly.

 

 

 

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