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Five simple steps for reducing contract risk.
Diminishing doubts, and avoiding disputes, about services to be provided is vital in contracts. Here are five critical considerations:
- Describe dependencies. If providing services depends on anything significant, definitively describe it.
- Prescribe performance standards. Measurable standards allow the parties to periodically assess progress in a meaningful manner.
- Delineate deliverables. What you ask for is what you get. A clear statement of expected results is crucial.
- Dictate due dates. Without deadlines, disputes arise from drawn-out projects. Due dates are definite and easily determinable.
- Create acceptance criteria. What deliverable is good enough? Objective measures are an additional methodology for minimizing confusion and avoiding unnecessary conflict.