Thursday, June 1, 2023

Default Contract Provisions to Include

Two people looking over a contract | Collection services Michigan

Do your customers come up with excuses to not pay?

Are your contracts weak?

You should include contract clauses like these in the event of disputes or litigation:

Acceleration – A provision that causes any balances payable on an installment plan to become immediately due in the event of a default.

Automatic Renewal – A clause that says the contract will renew for an additional term if the buyer doesn’t cancel by a specified deadline. For example, the contract may renew in one-year terms if written notice to terminate the contract is not received at least 60 days before the expiration of the current term.

Choice of Law and Venue – Include the location where any litigation will occur, and what state’s laws are to be applied to interstate transactions.

Learn more provisions to include!

Contact Muller Law Firm for Collection Services in Michigan

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Fill out the information on our “Contact Us” page or give us a call at 248-645-2440 for prompt collection services in Michigan.

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