A checklist for contracts.

Abstract

 Identity of the parties (legal names of the parties)x  Individuals or business entities?  If businesses, what type? (partnership, corporation, etc.)  Name of person signing on behalf of the business  Signer's official title  Does he or she have authority to bind the business?  Addresses of the parties  Purpose(s) of the contract  Underlying assumptions  Contract terms  In general  Duties of each party  Rights of each party  Relevant dates (Term of the contract, including a specific beginning and end date)  Relevant prices/remuneration or other dollar amounts (makes sure currency is correct!!!)  Relevant quantities  Payment terms  Lump sum, COD (cash on delivery), installments?  Payment due dates (Payment schedule and any requirements for payment, including some manner for determining when payment is to be made (i.e., specific dates when payment is to be made, payment to be made within thirty days of receipt of invoice, etc.)  Taxes  Interest  Late fees