Skip to main content
Bernstein Burkley
  • Practice Areas
    • Overview
    • Bankruptcy & Restructuring
    • Business and Corporate Transactions
    • Creditors’ Rights
    • Litigation
    • Oil & Gas and Energy
    • Real Estate
    • Real Estate & Commercial Finance
  • Our Attorneys
  • About Us
    • Our Approach
    • History
    • Law Lists
    • Professional Memberships
    • Careers
  • Resources
    • Bernstein’s Dictionary of Bankruptcy Terminology
    • Links
    • Five Minute Legal Master videos
    • Blog
    • Legal Publications
  • News
    • Cases Archive
    • Firm News
    • In the News
    • Industry News
  • Contact
CALL - 412 456 8100
Connect
  • Facebook
  • Twitter
  • LinkedIn
Bernstein Burkley
  • Practice Areas
    • Overview
    • Bankruptcy & Restructuring
    • Business and Corporate Transactions
    • Creditors’ Rights
    • Litigation
    • Oil & Gas and Energy
    • Real Estate
    • Real Estate & Commercial Finance
  • Our Attorneys
  • About Us
    • Our Approach
    • History
    • Law Lists
    • Professional Memberships
    • Careers
  • Resources
    • Bernstein’s Dictionary of Bankruptcy Terminology
    • Links
    • Five Minute Legal Master videos
    • Blog
    • Legal Publications
  • News
    • Cases Archive
    • Firm News
    • In the News
    • Industry News
  • Contact
Q&A
Q&A

When should we review our customer contracts?

Posted on October 29, 2012 by Bob Bernstein

Creditors’ Rights 12

Q: It has been many years since we reviewed the standard contracts that our customers sign. How often should we do this?

A: We recommend that you engage a creditors’ rights law firm to perform a thorough review of all of your agreements. Some of the key issues that your attorney may be looking for include payment terms and interest on late payments. Other items to be reviewed are whether your contracts contain an appropriate disclaimer of warranties, or limitation of remedies against you by your customer. Also, you may want to have your attorney investigate whether some of your more “credit risky” customers have changed their legal composition (i.e., incorporated their business that previously had been a partnership or sole proprietorship). We have found that some companies, by not focusing on and enforcing the terms of their contracts, and not keeping up to date on their customers’ activities, actually give the impression that it is “OK” to be paid late, or that they are not vigilant about their accounts receivable. It is important to reflect a culture that demonstrates that your contract terms are non-flexible and enforceable, and that you closely monitor your accounts receivable.

 

Share on:
  • Facebook
  • Twitter
  • LinkedIn
Bernstein Burkley

Copyright © 2025 Bernstein-Burkley

Links
  • Disclaimer
  • Knowledge Base
  • Privacy Center
  • Site Map

Bernstein-Burkley, P.C.

Phone: 412.456.8100

Fax: 412.456.8135

Email: info@bernsteinlaw.com

Connect

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.

I accept My Preferences
Close Popup