That contract I signed blind 3 years ago just cost me $14,000

Honestly I never read the fine print on a vendor agreement back in 2021. Small electrical supply place I was dealing with in Phoenix. Last week they hit me with a clause about auto-renewal and penalties for canceling late. I didn't even know there was a 90 day notice buried in there. My lawyer said I'm basically stuck paying for a year of materials I don't need. Anyone else get burned by a contract they signed way back and forgot about?

2 comments

2 Comments

christopher3854d ago

Caught myself signing a 3 year lease for a storage unit back in 2020 and totally forgot about that automatic renewal clause. Showed up last month to clean it out and they wanted $800 for breaking the lease early. I argued with the manager for like 20 minutes but he just kept pointing at the paper I signed. So I ended up paying it because my stuff wasn't even worth fighting over. Now I just keep a folder with every single contract I sign and set calendar reminders a month before anything expires.

the_claire4d agoMost Upvoted

Used to roll my eyes at people like you. Now I get it.