Businesses use standardized contract templates that they’ve found online or that someone they know sent to them. One of the reasons this happens is because many people believe that all contracts are, by and large, the same. Sure, there may be some small changes they know they need to make such as changing the services or goods offered, the rate, and the payment terms. Past that, they think that all standardized contracts work the same way and offer the same protection.
However, while you may be able to find standardized contract templates online to use for little to no cost, investing in the creation of standardized contract templates for your business provides you with more benefits. This article cannot list every benefit you could expect from making this investment. We haven chosen some of the best benefits that we believe you should know. Every business has its own unique facts which make the possible benefits different. To learn more about how your business may specifically benefit from its own set of standardized contracts, call Larsen Law now at 303-520-6030. With more than 30 years of contracts experience, Susan Larsen has worked with a variety of businesses. She’s ready to put her experience to work to benefit your business by ensuring the contracts used provide your business with documents you can use for years to come.
Easy to Use
Because you’ve invested in having one or more standardized contracts prepared for your business, you’re reclaiming your time in the future. These contracts are easy to use. You have fewer changes you need to make since they are written specifically with your business and its needs in mind.
If you provide various services or goods or if you enter into contracts to obtain various services or goods, you may find it to be easier for you to have multiple standardized contracts. This allows you to choose the right template and move forward instead of taking your main contract, making changes, and hoping you don’t overwrite your original!
It Saves You Money
Investing in a base set of standardized contract templates that are customized for your business can save you money. Instead of waiting until you’re in need of a contract and then waiting on it to be drafted and returned to you, you already have what you need. There’s no worrying about whether you’ll need to pay more simply because you needed it. When compared to the individual cost of drafting each contract, getting them as a package can save you money.
All of Your Contracts Will Be Consistent
One of the biggest issues people often face when they download contracts to use for their business is how much they’ll need to change. Will they be able to make all the necessary changes on their own? Will they still need to hire a contracts lawyer? Will they remember to save new versions? Will they need to make changes every time they use it? While online contracts are certainly convenient, they aren’t free from risks. That’s not to scare you so much as it is to help you recognize that they won’t necessarily be the best option for your business.
Getting contracts created specifically for your business that you can reuse as templates means that you get consistent terms and clauses. You don’t have to worry about double checking clauses or terms. You don’t have to worry about the last changes saved. You can rest assured knowing that your standardized contract templates are specific to your business needs and desires.
Written to Cover the Aspects of What Your Business Provides
Contracts are important in business because they explain the obligations and rights of both parties. When contracts contain ambiguous language, it can lead to problems for the parties. There could be misunderstandings about what will or will not be done. There could be misunderstandings about when payment should occur. There could be misunderstandings about the timeline of the project. A custom standardized contract written for your business clearly explains exactly what your business provides as well as what it expects in return. Clear language helps you and the other party involved ensure that you’re on the same page.
Standardized Contract Rely on Previously Established Laws
For most industries, standardized contracts rely on previously established laws or case law that affect the industry. These laws govern the relationship between the parties even if a disagreement occurs.
Speeds Up Finalization of the Agreement Between the Parties
Standardized contracts are just that: standard. They are most often used when the agreement isn’t something that requires negotiation. It may also be used after negotiation if there are blanks in the standardized contract that may be filled in for information such as cost or timeline. Since there is little to no negotiation, the use of this type of contract makes it faster and easier for the parties to finalize their agreement.
Helps You Get More Familiar with the Terms in Your Contract
Because this is a contract you’ll use over and over again during the course of business, you’ll become more familiar with the terms presented within. This helps you better explain the contract to the other party. You’ll also find it easier to locate specific provisions within the contract, such as a termination clause or choice of law clause. Additionally, better understanding the contracts your business uses will help you determine if they truly do contain clauses that are best for your business. If you think that something could work better, you can always discuss it with Larsen Law to get feedback as to whether there’s another option that could give you the results you want.
Larsen Law: 30 Years of Contracts Experience
If you’re looking into having standardized contracts written specifically for your business, Larsen Law wants to put their 30 years of contracts experience to work for you! Call us today at 303-520-6030 to find out how we can help your business!