COMMERCIAL CONTRACT REVIEW CHECKLIST
Run through this list before signing any vendor, customer or service agreement.
Parties & Scope
- ☐ Correct legal names, PAN / CIN and addresses of parties
- ☐ Authority of signatories verified
- ☐ Scope of work / deliverables clearly defined
- ☐ Effective date and term / renewal specified
Commercials
- ☐ Price, currency and payment schedule stated
- ☐ GST and TDS treatment specified
- ☐ Interest / penalty on late payment defined
- ☐ Price escalation and change-order mechanism
Risk & Liability
- ☐ Warranties and representations reviewed
- ☐ Indemnity clause scope and caps checked
- ☐ Limitation of liability reasonable and mutual
- ☐ Insurance obligations specified
- ☐ Force majeure clause present
IP & Confidentiality
- ☐ Ownership of intellectual property allocated
- ☐ Confidentiality / NDA obligations included
- ☐ Data protection and privacy obligations covered
Exit & Disputes
- ☐ Termination rights and notice period defined
- ☐ Consequences of termination stated
- ☐ Governing law and jurisdiction (Indian law) specified
- ☐ Arbitration / dispute-resolution clause reviewed
- ☐ Stamp duty and execution formalities addressed
Note: Flag onerous or one-sided clauses for legal advice before signing; ensure the contract is adequately stamped to be enforceable.