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Tip 42 – Site acquisition – Contract

The contract reflects the bargain between the parties and it’s critical that it reflects all of the bargain between the parties. Pre-contractual negotiations are superseded by the contract, with some exceptions. While there will be a lot of pressure to get the contract sorted out as quickly as possible, it is critical to make sure it’s right. Once the contract has been prepared and signed there are opportunities for amendment, depending on how the contract has been structured, the state of the market and who has negotiating power. The best case scenario is to be in close contact with your lawyer to ensure that a draft contract is ready when the negotiations start to get serious.