{"id":807,"date":"2024-08-31T11:28:24","date_gmt":"2024-08-31T10:28:24","guid":{"rendered":"https:\/\/www.saurabhkhosla.com\/?p=807"},"modified":"2024-08-31T11:28:24","modified_gmt":"2024-08-31T10:28:24","slug":"top-10-mistakes-typically-made-during-the-creation-and-negotiation-stages-of-a-contract-that-may-lead-to-conflicts-and-even-litigation","status":"publish","type":"post","link":"https:\/\/www.saurabhkhosla.com\/index.php\/2024\/08\/31\/top-10-mistakes-typically-made-during-the-creation-and-negotiation-stages-of-a-contract-that-may-lead-to-conflicts-and-even-litigation\/","title":{"rendered":"Top 10 mistakes typically made during the \u201cCreation\u201d and \u201cNegotiation\u201d stages of a contract that may lead to conflicts and even litigation."},"content":{"rendered":"<p>1) Not understanding the contract terms with requisite depth.<\/p>\n<p>2) Not understanding the scope and boundaries of the contract.<\/p>\n<p>3) Not understanding the potential risks that a contract carries with itself<\/p>\n<p>4) While Negotiating contracts, not getting into enough deliberations to agree on Milestone and Payment Terms.<\/p>\n<p>5) Not negotiating the responsibilities of the other party \/ parties to the contract and not defining the clear responsibilities of each of the parties.<\/p>\n<p>6) Mixing up the standard terms and conditions with the specifically laid out terms and conditions.<\/p>\n<p>7) Not identifying the stakeholders effectively and not involving them in the negotiation discussions.<\/p>\n<p>8) Not having a clear exit strategy from the contract.<\/p>\n<p>9) Not having a clearly laid out disputes resolution clause.<\/p>\n<p>10) Believing that previous negotiations will work in all subsequent contracts; if One Law Fits All and not sparing enough thoughts on specific laws and sectoral compliances governing the contracts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1) Not understanding the contract terms with requisite depth. 2) Not understanding the scope and boundaries of the contract. 3) Not understanding the potential risks that a contract carries with itself 4) While Negotiating contracts, not getting into enough deliberations to agree on Milestone and Payment Terms. 5) Not negotiating the responsibilities of the other [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-807","post","type-post","status-publish","format-standard","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/www.saurabhkhosla.com\/index.php\/wp-json\/wp\/v2\/posts\/807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saurabhkhosla.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saurabhkhosla.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saurabhkhosla.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saurabhkhosla.com\/index.php\/wp-json\/wp\/v2\/comments?post=807"}],"version-history":[{"count":0,"href":"https:\/\/www.saurabhkhosla.com\/index.php\/wp-json\/wp\/v2\/posts\/807\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saurabhkhosla.com\/index.php\/wp-json\/wp\/v2\/media?parent=807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saurabhkhosla.com\/index.php\/wp-json\/wp\/v2\/categories?post=807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saurabhkhosla.com\/index.php\/wp-json\/wp\/v2\/tags?post=807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}