Resources and the MERITEXTS Contract Guide
What is a Contract
A contract is simply an agreement between two or more people to do, or not do, something specific. It may be written or verbal and can exist with little more than an offer to do something and acceptance of that offer. Contracts for professional services are among the complex transactions undertaken. That is why a good contract at MERITEXTS is a written document that clearly identifies each party’s obligations, establishes reasonable expectations for the successful performance of those obligations, allocates appropriate responsibility and proportionate risk, and generally promotes the success of the relationship it governs.
MERITEXTS CONTRACT GUIDE
The MERITEXTS Contract Guide is a quick-reference resource outlining best practices for creating strong, fair, and balanced contracts. It explains MERITEXTS’ Contract Policy, which is the foundation of our best contracting practices, and provides key resources for selecting, preparing, negotiating, and executing contracts effectively.
A core principle of the guide is that a well-structured contract begins long before negotiations start and extends beyond project completion. Following “The Life of a Contract,” the guide offers practical guidance on:
Forming a project team
Writing proposals
Selecting subconsultants
Choosing the right contract form
Negotiating and executing agreements
Defining the roles and responsibilities of key project members, including the Principal-in-Charge (PIC) and Project Manager (PM)
By following these best practices, businesses can strengthen their contracts, mitigate risks, and ensure project success.
Get Your MERITEXTS Contract Guide
Resources
MERITEXTS LEGAL
While the MERITEXTS Contract Guide provides general information, it does not address every issue concerning contracts. Additional resources are available to answer specific questions that may arise. Simply Contact Us and MERITEXTS Legal is available to respond to any additional information required.
MERITEXTS LEGAL WORKSPACE
The “MERITEXTS Legal Workspace” offers online access to all MERITEXTS Legal resources to our clients through an easy-to-use, integrated website. The Legal Workspace is found at https://meritexts.com/contracts Hub and provides access to MERITEXTS’ Legal policies, procedures, and best practices. It also provides helpful links for initiating the automated Contract Review process and offers assistance in selecting the appropriate MERITEXTS Standard Contract.
OTHER RESOURCES
To complement the Guide, MERITEXTS has developed other helpful resources which are also available on the Legal Workspace. These documents provide important information regarding MERITEXT ‘s best practices for delivering successful projects and the firm-wide operational policies MERITEXTS developed to protect its client’s legal and commercial interests.
Other resources include:
Operational Policies
Minimum Insurance Requirements for Subconsultants
Subconsultant Insurance Coverage Request for Reduction of Limits Form
Contract Policy Easy Reference Chart
Professional Licensing Guide
Go/No-go Project Risk Assessment Matrix
Project Red Flags
Standard Certificate of Insurance