Contracts are the backbone of every business. Without contracts (even verbal ones) you can’t have customers, employees, goods to sell, or services to provide. A well-drafted contract is customized to accurately capture the business terms and shift risk between the parties but also customized to fit the scale of the transaction.
Many lawyers rely on a single template for a given agreement, leaving their clients at a disadvantage. The best contract lawyers know they need four versions of every contract to be truly prepared to service their clients.
The Four Essential Contract Templates
- A Long-Form Version – This is ideal for high-value deals or when clients need maximum protection.
- A Short-Form Version – A streamlined version that maintains the core legal protections without overwhelming the parties. This is useful for simpler transactions where speed and efficiency matter.
- A Pro-Party A Version – This version favors one party, ensuring they get the most advantageous terms possible. It’s essential for negotiations where your client has the leverage.
- A Pro-Party B Version – The mirror image of the Pro-Party A version, this template favors the other party. It helps lawyers anticipate the opposing side’s position and negotiate effectively.
For example, if my client is a commercial landlord that owns a large shopping center and they need a lease drafted, I would pull up my Long Form Pro-Landlord template lease agreement. But if my client is a new startup renting their first office space, I would use a Short Form Pro-Tenant template.
Why Having Four Versions Matters
- Efficiency in Negotiations – Having both pro-party versions allows lawyers to quickly adjust terms and counterproposals.
- Flexibility for Different Deals – Long-form and short-form versions give clients options based on the complexity of the deal.
- Faster Turnaround Times – With the right templates on hand, lawyers can draft and finalize agreements more quickly, which keeps deals moving forward.
We Have the Tools to Stay Prepared
At Hurley Law we understand the value of having the right templates available to our clients. We subscribe to the leading services available in the legal industry, the same ones used by the largest and most sophisticated law firms. This helps our lawyers know that we are providing the right contracts to our clients. Whether you need a review of your existing agreements or new contracts tailored to your business, our team is here to help.
