contract review

Verify the completeness of the contract document.

Identify the parties involved and their roles.

Check for the effective date and expiration date of the contract.

Ensure clarity of purpose and scope of the agreement.

Review the definition section for clarity.

Assess the payment terms and conditions.

Evaluate the duration and termination provisions.

Examine the confidentiality and non-disclosure clauses.

Analyze the indemnification and liability provisions.

Identify the rights granted to each party.

Review the obligations imposed on each party.

Check for any conditions precedent or subsequent.

Assess any performance metrics or deliverables required.

Here are some additional steps that could be included in the "Rights and Obligations" section of your contract review checklist

Determine if there are any exclusivity clauses affecting the parties' rights

Analyze any termination rights and conditions for each party

Identify any rights to assign or delegate obligations to third parties

Evaluate the scope of indemnification provisions and related obligations

Review confidentiality obligations imposed on each party

Confirm any dispute resolution rights and obligations included in the contract

Assess the impact of any governing law clauses on the rights and obligations

Identify any warranties or guarantees provided by each party

Review rights related to intellectual property created or utilized under the contract

Check for any limitations of liability that may affect the obligations of the parties

Ensure compliance with relevant laws and regulations.

Review for any necessary licenses or permits.

Identify any potential legal risks or liabilities.

Check for dispute resolution mechanisms (arbitration, mediation, etc.).

Review the procedure for amendments and modifications.

Ensure that any changes must be documented in writing.

Assess the implications of any existing amendments.

Verify the authority of individuals signing the contract.

Ensure that all necessary parties have signed the document.

Check for the date of execution and any witness requirements.

Document any issues identified during the review.

Prepare a summary of key findings for stakeholders.

Ensure that all parties receive a copy of the final executed contract.

Schedule a follow-up review if necessary, based on contract performance.