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Remember when a simple typo could cost you a million dollars?
Back in 2012, I was reviewing a supplier contract for a client in Chicago, and we missed a misplaced decimal point in the liquidated damages clause. It turned a $10,000 penalty into a $100,000 one. We caught it during the final pre-signing review and had to scramble for a whole new round of negotiations. Anyone else have a story about a tiny error that almost blew up a deal?
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tylerr291d ago
Honestly, that sounds more like a standard contract catch than a disaster. A tenfold increase is a big typo, but that's literally what the final review is for. If your team hadn't caught it, the other side likely would have pointed it out before signing too, because no supplier wants that kind of unclear liability. It just caused some extra hassle, not a blown-up deal. These things get fixed all the time.
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henry10122h ago
Yeah, "standard contract catch" is putting it nicely. My last one was so bad I almost agreed to pay for the office coffee for a decade. Had the number right but the unit wrong, like promising a yearly fee per month. My boss just stared at the red line and said "Henry, did you buy the beans too?
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