Boilerplate Clauses in Commercial Contracts. When it comes to daily life, you sign all sorts of contracts. Think you don’t? You might be surprised. When you get a phone and “accept” the disclosures and user agreement, that’s a contract. Lots of contracts surround financial work, such as loans for cars and homes. And most of the time when it comes to contracts, many of us don’t bother reading the fine print on contracts, but there are things about boilerplate agreements that you shouldn’t ignore anymore. While they’re standard they are meaningful.
For example, what happens if you have a disagreement with the person you are in a contract with? That would be addressed by the dispute resolution contract clause, which covers all sorts of options from litigation to arbitration as well as negotiation. What else are typically encompassed by boilerplate clauses in commercial contracts and what do you need to think about? This graphic explains it.
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