A contract breach can disrupt your workflow and jeopardize your company’s success. A swift response at the earliest sign of ignorance can minimize collateral damage.
Having a strategy in place for handling a breach of contract can provide direction and support throughout the process of handling conflict.
Upholding your agreement
From the onset of a business relationship, make sure to understand the terms and conditions of your contractual agreement. Ask for clarification on parts that cause confusion and verify your understanding of everyone’s expectations. Knowing that you have diligently adhered to the contract may reduce questioning about your actions during litigation.
Prior to filing a lawsuit against the breaching party, make sure you have evidence to corroborate your claim. Research your options for demanding compliance. Know your rights and then take action to protect the best interests of your company.
Taking action
Before you take the most extreme approach of going to court, you may consider other avenues. According to In News Weekly, one option you have is to request a letter of demand. This correspondence allows you to disclose your concerns, frustrations and requests for resolving the issue. Sometimes, this method may provide enough incentive for the other party to comply.
If you unsuccessfully try to resolve a breach of contract, you may choose to file a lawsuit. Your company deserves protection and the right to claim promised benefits. Drawing upon your experience, you may work with an attorney to find ways to improve future business contracts to prevent similar circumstances from happening again. With well-written contracts in place, you can feel confident about your company’s ability to benefit and grow from sustainable relationships.
