Boilerplate: Standard Contract Provisions

A look at some of the standardized language you'll find in many contracts.

Your contract can specify the governing law that will apply to disputes involving the agreement.

What does a "time is of the essence" contract provision mean, and will it be enforced?

Parties to a contract can try to assign risks and limit liability. Here's how.

Should you include an arbitration clause in your contract?

Parties to a contract can agree on payment of attorneys' fees and costs if a legal dispute arises.

A liquidated damages clause can be a useful way to limit risk but they are not always enforceable.

An indemnification provision allocates the risk and expense in the event of a breach, default, or misconduct by one of the parties.

Use these standard personnel contract provisions to protect your business's interests.

Make sure you understand how to shift the risk of loss in certain contracts with this important clause.