The top risk faced by technology companies and IT professionals, is a client suing them for breach of contract. According to Hiscox data, nearly half (49%) of all technology professional indemnity claims stemmed from contract breach.
As it is often poorly worded contracts which lead to misunderstandings, one of the most effective ways that you can reduce the chance of a claim being made against your business is to ensure that contracts drafted at the outset lay out clear responsibilities with an agreed process if mediation is required.
Contract hints and tips
To help you and your business understand the common pitfalls when it comes to drafting contracts, we have developed a booklet – Contracting hints and tips – in conjunction with leading law firm DLA Piper, which covers a range of contract issues including :
understanding what forms part of a contract
ensuring the full extent of responsibilities due under a contract are fully laid out
the differences between a warranty and an indemnity