RFM175 – Building get out clauses into your contracts
Update: 2023-09-26
Description
Main talking points include:
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Most common reasons why projects go wrong:
- Scope Creep
- Misaligned Expectations
- Misaligned Budget
- Inaccurate or insufficient discovery
- Even long term retainers have a life span
The importance of thinking how to get our of something, before you get into it...
The difference between quotes and estimates...
For Projects:
- Have a specification linked to the estimate – reserve the right to change the quote if the specification changes
- Be clear where the intellectual property lies at different stages of the project
- Have a termination process from BOTH sides in your Contract / Agreement:
- If the client terminates the project
- If you terminate the project
- Have the payment schedule linked to stages YOU control
- Have a documented process for packaging up files, sending them to the client and offboarding the client from your systems
For Retainers:
- Have a termination process outlined in your Contract / Agreement
- Include a notice period – and detail from both sides
- Detail how and when final payments will be expected and what they will cover
- Have a documented process for completing work, sending data to the client and offboarding the client from your systems
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