Common Contract Mistakes That Could Cost Your Business

Even small errors in contracts can lead to big losses. Avoid these common pitfalls that catch many business owners off guard.

1. Vague Scope of Work

Ambiguity invites disputes. Always define deliverables and deadlines clearly.

2. Missing Termination Clauses

Without exit terms, you may get locked into an unfavourable deal.

3. No Late-Payment Penalties

Add interest or penalty clauses to encourage timely payments.

4. Not Reviewing Before Signing

Never rush. Take time to review every clause or seek professional advice.

5. Ignoring Jurisdiction

If you deal internationally, specify which country’s laws govern the contract.

Final Thoughts

A small oversight can turn a great deal into a legal nightmare. Startitup Global helps businesses draft, review, and manage contracts that minimise risk and maximise protection.