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Protect Your Bargains

October 19, 2012

What to do when your partner won’t honor a contract

Every day in the business world, companies sign contracts, honor their part of the bargain and then discover that the other side isn’t living up to its end of deal. Most businesspeople enter into agreements assuming that the other party has the same intention and ability to honor the contract.

All too often, you learn – the hard way – that integrity and performance is a one-way street. But you can protect your bargains.

Due diligence

You should know with whom you’re doing business. Long-standing relationships can help, but they are not foolproof. One client just discovered that he had been doing business for a few years with someone who was recently indicted for serious crimes. (more…)