Ten clauses every business contract should have

Many disputes start with a contract that was too short — or never written. Before signing a significant agreement, check these ten points.

1. 1The parties — full legal names, CR numbers and addresses.
2. 2Scope — exactly what will be delivered, and what is excluded.
3. 3Price and VAT — whether the price includes VAT, and who bears other taxes such as withholding tax.
4. 4Payment terms — milestones, due dates and the method.
5. 5Timeline — start date, delivery dates and what happens if they slip.
6. 6Acceptance — how the work is approved, and in how long.
7. 7Changes — how extra work is requested and priced.
8. 8Confidentiality and data — including personal data obligations.
9. 9Termination — notice periods and what is paid if the contract ends early.
10. 10Disputes — governing law and whether courts or arbitration apply.

Good practice

• Keep a contract register with key dates, values and renewal deadlines.
• Have significant contracts reviewed by a legal adviser before signing.

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