Wilson Cole's Podcast From The Road

Contracts are, by their very nature, designed to protect two or more parties from each other and to hold them accountable. Unfortunately, contracts can be used to undermine and hurt the parties that they were supposed to protect. You have to balance the risk between being legally covered and getting the deal done. We often say that a one-page contract with 2 or 3 of our safeguards in it is safer than a 10-page contract with every addendum known to man hidden in it. Our clients come to us for help on their collections because the majority of them are very experienced in sales and marketing but not so much on the legal or administrative side. So, in order to help, we are going to share the three things you can do when signing agreements to protect themselves legally. 1. Outline a possessory period- This should go without saying, but always include a specifically stated possessory period to protect your collateral until the conditions of the agreement have been met. 2. Make sure that all of the wording in the do