Checklist of Matters to be Considered in Drafting Contract Between Advertiser and Advertising Agency
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FAQ
A contract is an agreement that two or more parties enter into that is legally binding and enforceable by a court.A contract must include all relevant information about the exchange. Essentially, anyone can draft a contract on their own; an attorney is not required to form a valid contract.
Get it in Writing. Use Language You Can Understand. Be Detailed. Include Payment Details. Consider Confidentiality. Include Language on How to Terminate the Contract. Consider State Laws Governing the Contract. Include Remedies and Attorneys' Fees.
Get it in writing. Keep it simple. Deal with the right person. Identify each party correctly. Spell out all of the details. Specify payment obligations. Agree on circumstances that terminate the contract. Agree on a way to resolve disputes.
The date of the contract. The names of all parties or entities involved. Payment amounts and due dates. Contract expiration dates. Potential damages for breach of contract, missed deadlines or incomplete services.
Intent to make a contract; A lawful subject matter; An offer made by one party; Acceptance of the offer by the other party; An exchange of something of value; A written agreement, in some circumstances.
There is no requirement that lawyers draft every contract and, like other areas in the law, you may be fine editing a form contract to suit your needs. However, if there is any money at stake, not having a lawyer properly draft a contract is tantamount to rolling the dice.
Drafting a contract. Provide details of the parties. Describe services or results. Set out payment details. Assign intellectual property rights. Explain how to treat confidential information. Identify who is liable indemnity. Provide insurance obligations.
Include Contact Information of Both Parties. Specify Project Terms and Scope. Establish Payment Terms. Set the Schedule. Decide What Happens If a Contract Is Terminated. Determine Who Owns Final Copyrights.
Assignment. Choice of Law. Amendment and Waiver. Arbitration. Integration and Severability. Notice. Authority to Sign.