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Beware of Boilerplate in Business Contracts
Posted by: Marlyn Wiener
February 11, 2008
Topic: Beware of Boilerplate in Business Contracts
It is extremely important to thoroughly review any contract you are being asked to sign to make sure that you understand its terms, including the "boilerplate" provisions. Tucked into the boilerplate - those clauses that seem perfectly innocent at first glance - are terms and conditions that can prove to be extremely expensive and painful if disputes between the parties occur later on. For example, the contract may provide that jurisdiction for all matters arising under the contract will be in California (where the home office of the party who presented the contract is located) while you, the business owner live and operate your business in Florida. This can mean that you will be required to hire a California law firm to handle litigation under the contract - and you will incur significant travel expenses for you and your local witnesses, experts and employees who may be involved in the litigation.
