How To Create A Contract Checklist?
A simple contract checklist, whether in digital or printed form, is a step-by-step list that consists of a contract's key parts. It is used to set expectations, organize the terms and conditions, reduces the risk of miscommunication, and ensures that both of the parties are on the same page.
A contract checklist may sound like a contract, partly, yes it is, but a contract checklist has a different purpose and function in a legal agreement transaction. Usually, contract checklists are used as a sort of pre-agreement before having the actual contract. It reduces the chance of having a contract dispute which is common in every contract transaction for it removes vagueness in every terms and condition.
You can start writing or drafting a contract checklist for your own. You can accomplish it by referring down below on how you can start having one.
1. Identify Your Stakeholders
To set the legitimacy of your contract checklist, you need to distinguish first the parties involved in your transaction. Carefully identify the contract title, the legal names involved, contact numbers, addresses, and email addresses. If you opt to transact for business set-up, try to identify its types, like for a partnership, corporation, sole proprietorship, or limited liability corporation.
2. Study How It Works
When you are bound to enter into the contract transaction, make sure that you'll carefully study how it works. Research on how the basics by learning the time frame or the duration of the contract, the payment schedule terms, intellectual rights, termination contract, liability limitations, etc. It is also best if you seek legal advice from a legal practitioner or lawyer before engaging yourself into a legal contract.
3. Formulate Your Contract Checklist
Same as a contract, a contract checklist also includes the necessary terms that you want to deal with another party. However, unlike a contract, a contract checklist is usually constructed wherein an individual can have ample time to decide on the terms that he/she wants to have. Here's an example, for a construction contract carefully stipulate the checklist choices for terms and conditions like the duration of the construction work, the payment charges, and guidelines.
4. Keep A Simple Language
In writing a contract checklist, you need to also consider the language and tone that you'll use. Use a basic and straight language in writing your contract terms. If it needs you to include some technical terms or jargon, make sure that you will elaborate and explain the said terms. As much as possible, make use of a straight-to-the-point tone.
5. Look For A Contract Checklist Sheet
After formulating the vital content for your contract checklist, you can now start creating your contract checklist sheet. However, if you want to have a hassle-free layout, you can also make use of our available sample checklist above. All of our templates can also be accessed through different editing file formats.