Do I really need to read the boiler plate details in my contract?

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Do I really need to read the boiler plate details in my contract?

  • ADR, arbitration, boiler plate, contract, judgment, jurisdiction, jurisdiction of selection clause, jury trial waiver

Dana Dunwoody, partner at Sheppard Mullin and Philip Graf, partner at Bird & Bird explain why the so-called “boilerplate” issues should not be overlooked in a contract.


 

Dana and Philip discuss the fact that many companies pay close attention to the financial issues in a contract, but far too little to the boiler plate small details.

There are many things buried in these details that you should be aware of and use counsel to adjust before you sign. You need to look at things like the jurisdiction of selection clause (rules in state of Texas VERY DIFFERENT, for example, than in California, so you need to choose this carefully), the possibility of jury trial waiver, and the desirability of arbitration or other ADR instead of the court system.

You should be aware that you could have problems enforcing arbitration awards or judgments because Denmark doesn’t recognize US judgments, only EU judgments – so you need to be sure to phrase your arbitration clause correctly.

See more from the “How to Avoid being Sued in the US” event held in August 2015 here:

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