FairClaims Contract Clause
If you have a standard contract for your business, whether for vendors, customers, employees, independent contractors or otherwise, you can mandate use of FairClaims in the event a small claims dispute arises. All you need to do is add an FairClaims Arbitration clause into your agreement. Learn more here.
You can also take an existing agreement or an agreement someone provides for your signature and either have them add an FairClaims Arbitration clause, or create an addendum to your Arbitration clause. An addendum can be added to an agreement after initial signature and with a separate document that clearly states you are adding terms to the old agreement. Again, you can insert the FairClaims clause found here.
The above applies to any kind of written agreement, whether it’s a standard agreement or not.
Some business owners form a corporation, limited liability company or other entity to shield their personal assets from liability. The idea being that if it’s done properly and the business gets sued, their personal house, car, and bank account is not at risk.
If you want to learn more about your options on this front, our friends at Legal Zoom may be able to help.
General Liability Insurance
Some business owners also consider getting general liability insurance to help them if they get in a jam.