As with considering any claim - do your homework. The claim of many vendors is "no contract" in an effort to compete against companies that have stringent, long term, complicated, confusing, unattractive, etc. agreements. First let it be said - NEVER, NEVER, conduct business VERBALLY, without some mutually understood written agreement - bad news, bad decision, most likely unfavorable consequences.
Contracts are not bad by definition and should be written to protect both parties - defining a vendor's obligations and liability and the purchasers rights etc. Ultimately, in the face of Gross Negligence, contracts usually fail. If a vendor does their job according to the contract they have something to lean on - but gross negligence is the historical under riding factor that will negate any fancy legal lingo.
Contracts provide additional protection besides a term, typically, they also provide value to the vendor. Many vendors over time build up a base of clients and in time find the value of the base to be directly tied to a contract - from that perspective it is in a vendors interest to enforce a contract/term. The market drives such issues as price and term so competition typically forces certain decisions with regard to how a contract is written. Boring as it may seem it is important to "read" documents, whether its your mortgage or your alarm vendor's documents. Ultimately, Value has to be a part of any equation and finding value is a product of "doing your homework."
The best Value for a buyer is balance between Price Product and Performance. Ensure your vendor's agreement (contract/price) is viable, mutually attractive, and provides realistic solutions (products/service) that are in your mutual best interest, and a term (performance) that you can live with.
Greg Lamb











Comments
Thanks!!
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