Why Should You Not Take a Contract for Granted?
Uncategorised / 23rd June 2018

A contract should never be taken for granted! It serves as a tool to safeguard whatever resources you have, especially in business, and its main purpose is to establish the agreement that both parties have fixed their rights and responsibilities. Here are some of the reasons why you should not take a contract for granted. 1.     To Safeguard the Resources The main advantage of having a contract is that your resources, whether it is a cash, property, or services offered, are properly and legally safeguarded. Your client or provider has obligations that are supposed to have complied at a specific period of time. If they failed to act in accordance, the legally enforceable contract will support any legal actions necessary. Let’s say, for example, contract matters with Geneco, a Singapore electricity supplier. You can’t just leave everything to the company unsettled because it is one of your duties and responsibilities, as a client, to settle and put everything in place before the termination of a contract. It is to ensure that whatever resources the two parties have are safeguarded. 2.     To Minimize Issues or Disputes Truth is that having a contract doesn’t mean that the transaction is free from disputes…