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.
Smoke Without Fire: Damage from Concrete Dust Covered by Insurance
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Changes Made After Substantial Completion Did Not Extend Overall Project Time
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One-Sided Construction Arbitration Clause Valid in Virginia
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Manage the Risk of Construction Changes
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Want Your Profit? Prove a Constructive Change, Not a Suspension of Work.
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No Special Defenses to Arbitration Agreements
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How to Find (and Confirm) the Plain Meaning in a Contract
Contract formation confirms the parties understand and agree to all the essential terms. When that understanding and agreement fades, how do you […]
Navigating the Requirements for Claims against Virginia Public Entities
Contractors making claims against Virginia public entities must follow ALL applicable requirements. Such requirements may be found in several places, so check […]
Virginia General Contractors Not Protected from Pre-Work Claim Waivers
On March 2, 2018, the Governor approved an act of the Virginia General Assembly to make unenforceable pre-work waivers of lien rights […]
