Before signing a written contract, it’s essential, if not statutory, to review the document or have a legal expert do so on your behalf.

Contract review helps you to grasp the terms and conditions of the contract, so you have a clear picture of what you are getting yourself into. It also becomes easy to pinpoint questionable conditions and avoid illegal or unconscionable agreements.

As much as contract review is highly recommended, it’s common for some parties to skim a few paragraphs, considering that some written agreements can be lengthy and complicated. Such mistakes have seen parties embroiled in constant legal battles due to the fact that someone missed a very important point when skimming the document.

To avoid such a mess, have an attorney review the contract for you.

However, hiring a contract review attorney may be quite expensive, considering that the expert taps into their years of experience to keep you away from potentially costly mistakes. Nonetheless, the choice of whether or not to hire a lawyer is solely upon you.

Types of Contract Reviews

Issue-specific Contract Review

In this review, a contract attorney will look into a particular issue. It could be something about the non-solicitation clause, your rights, the possibility of working with other clients after signing the document, etc.

Issue-specific contract review is the ideal choice if you’re on a budget.

Basic Contract Review

The Basic contract review involves going through the document on the surface level. Your contract lawyer will also answer questions you have about the agreement and pinpoint specific areas that need some attention. Typically, attorneys offer basic contract services via email or over phone calls.

Basic Contract Review Plus Edits

Here, your lawyer does everything offered in basic contract review, with an added advantage of editing the areas requiring attention. Undoubtedly, you will spend a more substantial amount of money in this form of review, compared to the previous types.

Contract Review Plus Negotiation

Reviewing your contract is half battle won, negotiating the agreement with the other party is another. That’s why you should pick this package, in which the contract review attorney reviews, refine, and negotiate the agreement.

You can relate to the fact plenty of emotions can flow when parties are negotiating a contract. The involvement of a third party, the contract review lawyer, will get things going.

Contract Review Pricing

Flat Rates

In flat-rate pricing, you pay a set amount of fees to have an attorney review your contract. This does not translate to a fixed rate, as prices vary depending on the complexity of the project.

A well-reputed attorney will first take a look into your contract and subsequently determine the flat fee. Be wary of professionals who charge a particular flat charge without looking at your documents.

Hourly Pricing

In hourly pricing, a contract review lawyer requests you to offer a retainer from which he deducts hourly fees until the retainer runs dry or when the project gets completed, whichever comes first.

The average hourly rate for contract lawyers lies somewhere between $100 and $400, but sometimes the figure may be as high as $750.