The importance of understanding your contract

Firstly, the main thing to mention here about contractual agreements and why its so important that you are reading and fully understanding them, is the terms and conditions. They can often be written in a language and style that is obviously clear and idealistic to the provider and not the receiver. You want to make sure that you are in a position of mutual understanding. So read, and read again. Your future you will thank you for it!

It’s also worth mentioning that you don’t necessarily need to understand all of it and research the meaning behind it all. You can opt to have a solicitor do this for you. Seeking legal advice is always a good idea, it can be costly though. So, asking around and getting recommendations from family and friends may be a good start to saving money in the process.

Helpful tip! Print out your contractual agreement for your own personal use and highlight any areas of concern or areas which you are uncertain about. You can take this edited print out to your solicitor for clarification and guidance. Make further notes when in conversation with your solicitor, so you have a guidance document for personal use that you can relate back to if necessary.

Raise your voice, anything you want clarity on discuss it in length with your contract provider, you have a time period to do this, so it would be sensible to make the most of this time and discuss your areas of concern.

And remember, knowledge is power! If anything was to go wrong you want full understanding of your position. So, the more you understand, the stronger your position in the agreement.

One final thing to note: Getting your contract reviewed stage by stage during your build on a construction site, is a useful tool to keep your mind fresh and your finger on the pulse when working with you builder! Enquire about this today with us and you can receive a $600 discount on your contract review. 

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