How Much Does A Contract Cost?
The cost of a contract can vary from company to company. It depends what clauses you want to include, what laws apply to your company, what you want your contract to cover and how you intend to use it.
What are you paying for?
When pricing a contract, you’re paying for consultation time, knowledge and expertise. You’re paying for the time to write the contract and editing if you want any changes. Sometimes you’ll get 15 minutes of free consultation time, sometimes 30 minutes or even an hour. This could be by telephone, email or face to face but at some stage you’ll need to chat with the person writing your contract to give them an outline of what you want.
Can you keep the costs down?
Consultation time is valuable and can save you money if you use it to ask questions or provide plenty of information about your business. Giving as much information as possible up-front saves research time and consequently cuts down the overall time to write your contract.
Do DIY contracts work?
You’re also paying for professional and knowledgeable advice. There may be the need to check what laws apply to your business and writing clauses that will hold up in court or under client scrutiny. This can’t be achieved writing the contract yourself or copying/pasting terms from other companies. Further reading my blog “DIY vs pay for bespoke terms”
Do you trade outside the UK?
There may be clauses specific to a country you trade with and there will certainly be specific clauses for different types of businesses, as well as clauses for international law and small business law that you may need to include. Having your contract professionally written is an essential part of today’s business and protects you and your clients.
The cost of creating a contract and using it in your business is likely to far outweigh the cost of not having a contract if something goes wrong.
I strongly recommend all companies have a contract with their clients, no matter how big or small the company. I can write a legal contract for your company and your clients or check your existing contract to make sure it’s up to date and compliant.
Please contact me for more information on this service.