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contract review

Initial Overview

Review the parties involved in the contract

Identify the type of contract (e.g. purchase agreement, service agreement)

Note the effective date and duration of the contract

Scope of Work

Review the specific obligations of each party

Confirm that the scope of work aligns with the goals of the contract

Check for any ambiguous language or missing details

Payment Terms

Verify the payment schedule and amounts

Review any penalties or late fees

Confirm the method of payment

Term and Termination

Note the duration of the contract and any renewal options

Review the termination clauses and notice requirements

Verify any conditions for early termination

Indemnification and Liability

Review the indemnification provisions and limits of liability

Confirm insurance requirements

Check for any warranty or guarantee provisions

Confidentiality and Non-Disclosure

Review the confidentiality obligations of each party

Confirm the handling of confidential information

Check for any exceptions to the confidentiality provisions

Dispute Resolution

Review the dispute resolution process (e.g. arbitration, mediation)

Confirm the jurisdiction and governing law of the contract

Verify any waiver of jury trial or class action provisions

Additional Provisions

Review any miscellaneous provisions (e.g. force majeure, assignment)

Check for clauses related to unforeseen circumstances impacting the contract
Look for provisions regarding the transfer of rights or obligations to a third party

Confirm any representations and warranties made by the parties

Verify the accuracy of statements made by each party in the contract
Ensure that all promises and guarantees are clearly outlined and agreed upon

Check for any required signatures or attachments

Make sure that all necessary parties have signed the contract
Verify if any additional documents or materials need to be attached to the contract

Final Review

Summarize key terms and provisions of the contract

Note any areas of concern or ambiguity

Confirm that all parties have reviewed and approved the contract

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