If you’re making a contract for you business make sure you state how you want disputes to be handle

24 Aug 2022 · 1 min

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Business contracts need a dispute resolution clause that spells out whether disagreements go to mediation, arbitration, or court. Read it carefully so the terms don't heavily favor the other party.

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If you're a business owner, then here's a clause that you want to make sure is included in your business contracts. This important clause is called the dispute resolution clause, which is pretty evident in its title, sets forth what happens in the event of a dispute. Oftentimes, a dispute resolution clause will state that the parties must agree to arbitration or mediation or both before ever being able to go to court. Mediation is when you have a neutral person try to bring both parties to a reasonable resolution. If the contract states that both both parties must agree to arbitration, then this means that that neutral party will make a final and binding decision, which would prevent you from being able to go to court and file a lawsuit. So if you're a business owner or signing a contract, make sure that you read this clause to make sure that it's not too strongly in favor of one party.

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