Whether you’re a business owner, contractor, or consultant, reviewing a contract before signing is essential. Overlooking just one clause can expose you to legal and financial risk. At BEB Contract & Legal Services, we specialise in contract reviews that protect your interests and support your business goals.
In this guide, we walk you through a simple, step-by-step contract review checklist and share the key questions you should always ask before signing.
Why Contract Review Matters
Contracts are legally binding—and often full of small print that can cost you later. A thorough review ensures:
- You’re clear on your rights and obligations
- You reduce the risk of disputes
- You avoid being locked into unfair terms
Tip: Even when contracts appear “standard” or friendly, always review the detail. Every single clause matters.
Contract Review Checklist: What to Look For
- Confirm Parties & Purpose
- Are the correct names and business entities used?
- Does the contract clearly describe the service?
- Is it consistent with what was agreed (verbally or in email)?
Ask yourself: “Is this a fair reflection of what we actually agreed?”
- Review Payment Terms
- Are the amounts, due dates, and payment method clear?
- Are there late payment fees or interest clauses?
- What happens if payment is delayed or disputed?
Ask yourself: “Do I understand when I’ll need to pay?”
- Understand Termination & Renewal
- Can you exit early? Is there a notice period?
- Are there penalties for cancellation?
- Does it auto-renew?
Ask yourself: “What’s my exit plan if this relationship doesn’t work?”
- Assess Risk, Liability & Indemnity
- Who is liable for mistakes or losses?
- Are there caps on liability?
- Does the contract protect the other party more than it protects you?
Ask yourself: “Could I be unfairly blamed—or left to cover unexpected costs?”
- Check Confidentiality & IP Clauses
- Who owns intellectual property or work produced?
- Are there clear rules about using, disclosing, or protecting information?
Ask yourself: “What can I legally use, share, or repurpose after the contract ends?”
- Dispute Resolution & Governing Law
- How are disputes handled (court, arbitration, mediation)?
- Which country’s law applies?
Ask yourself: “If there’s a disagreement, what’s the process—and is it fair?”
- Look for Blank Fields & Missing Documents
- Are all sections filled in?
- Are referenced schedules or annexes included?
Ask yourself: “Is anything vague, missing, or left ‘to be confirmed’?”
- Spot Red Flags
Be cautious of:
- Vague obligations (“to our satisfaction”)
- One-sided indemnities
- Hidden fees or penalties
- Unreasonable performance standards
Questions to Ask Before Signing Any Contract
- Have I had a legal professional review this?
- What happens if I fail to meet my obligations?
- Can I realistically deliver on everything I’m agreeing to?
- Are there any clauses I don’t fully understand?
- Would I still sign this if the roles were reversed?
Need Help Reviewing a Contract?
At BEB Contract & Legal Services, we help businesses avoid costly mistakes by offering:
- Fixed-fee contract reviews
- Plain-English legal advice
- Commercially focused support
Whether it’s a supplier agreement, partnership agreement or T&Cs, we’ll ensure you know exactly what you’re signing—and why it matters.
If you need any of these legal and contract services get in touch with us today on 01604 217365 or info@bebconsultancy.co.uk
Free Resources
Small Business Owners Guide to Contracts
The Construction Review Checklist
Online Courses