You began the mediation or negotiation with energy, focus, and drive. You presented your position and listened to the other guy. Now, after hours of back-and-forth, the deal is almost done, save for signing an agreement. But, it’s late, your energy is gone, and you’re focused on driving home.
Wait! Don’t leave yet! “Don’t put off for tomorrow what can (and should) be done today.”
Someone else like you recently succeeded on a simple, two-page “Term Sheet” at the end of a single-day, 12-hour mediation. That Term Sheet was the best thing between efficiently winning a multi-million dollar dispute and potentially losing in litigation.
Next time you close a deal, get the essential terms on paper and signed by all parties before it’s Miller Time. Essential terms may include: price, time for payment, releases, warranties, confidentiality terms, and signatures. You’ll avoid headaches and needless cost when you do.
If possible, draft an agreement among all parties before the mediation or negotiation session begins so you’re not doing it with a foggy head in the wee hours of the morning.
Construction Contracting Without Relief Clauses During COVID-19
What to do if your contract lacks the parts to handle COVID-19? Considerations for creating new contracts during COVID-19.
Your Contract Can Handle COVID-19
Uncertainty and risk are not new or novel to contractors. Contracts reduce uncertainty and share the risk of doing or providing something. COVID-19 may have contributed to, but it has not single-handedly created, uncertainty and risk.
Contractors Can Use RFI to Notify the Government
The Board (and the government) should not elevate form over substance in evaluating the sufficiency of a contractor’s notice.
Taxes Due!
It’s tax season again, so it’s time to pay the piper.
Contractor Wins when Government Reconsiders Accord
Ever had buyer’s remorse or second-guessed a decision? When the U.S. Army Corps of Engineers did that, a Contractor won its claim […]
Claim Certified with Digital Signature Deemed OK
The law is not a trend-setter. It doesn’t readily change or adapt to tech. So, a commonplace practice in business became a dispute when a claimant digitally certified a claim under the Contract Disputes Act.
Acceptance and Intervening Cause Avoided Construction Warranty Claim
Like cars, computers, and appliances, construction projects include warranties too. Similarly, construction project warranties are limited to causes within the contractor’s control […]
Insurance Company Had No Duty to Defend Under Eight Corners Rule
To decide if an insurer has a duty to defend, a Virginia State or Federal Court may only look at the allegations in the complaint and the insurance policy to determine if a judgment against the insured will be covered by the policy.
Owner SOL When Mandatory Mediation Didn’t Toll Statute of Limitations
Contract interpretation strives to find the meaning of all parts together.
