Victoria FergusonIt’s time for the last of our 12 tips! The tip for today is: Use your business’ standard forms
🚨 Businesses often have their own standard contracts for the supply or purchase of goods and services. Your business may also have standard form confidentiality agreements and other collaboration frameworks.
🚨 Where possible, you should use those standards. They will typically be tailored to how your business trades and will offer the best protection for your business. They will help you to ensure your contracts have consistent terms.
🚨If the project is unusual or complex then standard forms may not be appropriate and you may need a more bespoke contract.
🚨As always, know when to reach out to your legal team. You should be clear about the scope of your contracting authority and the legal terms which are acceptable to your business. If you’re ever unsure about the appropriate legal structure for a project, faced with a request to deviate from standard contract terms, or dealing with a contract provided by a counterparty, then it is time to call your legal team.