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The Failing Client

Posted on 8/20/2016 by SuperUser Account in Contracts Agreements
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Many aspiring small business men and women rejoice to land large accounts only to often be discouraged as they find that they may be more trouble than what they are worth due to The Failing Client.

Contracts

Contracts are an important tool in which it is a reduction to paper, the intents, obligations, and performance requirements of the involved parties. Contracts may be simple and as small as one page, and they may be complex requiring many pages. To put it simply, a contract is that party's word on paper...and as it was said in old, “Your Word Is Your Bond.”

Nevertheless, many small business owners fail to execute contracts with their clients. This often can lead to confusion as the client may have one level of expectation and the business owner another. Of course, this is not to say that every transaction requires a contract, however, every transaction should have governing rules that are properly formed so that if a matter finds its way into court, such rules can be construed as a contract.

The Failing Client

Many aspiring small business men and women rejoice to land large accounts only to often be discouraged as they find that they may be more trouble than what they are worth due to The Failing Client. The Failing Client is a description that we use to describe the client that takes one of the more options to delay the competition of a particular task, account, event, or assignment:

  • Adds Additional Work to an Agreement Without Having Completed or Paid for the Previous Work. This is where a contract comes in handy; a good contract will prevent the addition of work because previous work was not completed and paid. Moreover, additional work should be governed by a new contract.
  • Fails to Provide Documents, Equipment, Staffing, etc. at the Agreed Schedule. Contracts reduce to paper the who, what, when, where, and why of such things. Moreover, a good contract would include an exit strategy in the event that you feel that the client may be delaying paying you.
  • Asks for Time to Pay, Wants Credit or Wants to Put “Down Payments.” A good contract would itemize payments to require the client to release money over stages of work, as opposed to the end of the work.
  • Avoids Communication. A good contract would release the company from its duties if the client fails to communicate.

Lighthouse Notary Services can help you design adequate contracts for your small business. Call today, 504.298.3627.

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About Us

Lighthouse Notary Services provides mobile notary services in the Greater New Orleans area, North shore and River Parishes. Lighthouse Notary Services can draft and execute many different types of legal instruments, many having immediate legal effect.

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  • 7809 Airline Drive, Suite 201, Metairie, LA 70003 Address
  • Phone: 504.298.DOCS Phone
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