I was Negotiating a contract with a new business Partner, and we had a meeting to Clarify the Terms.
Bill: If I understand the terms correctly, the length of the contract would be one year with a one-year Option. Is that correct?
Ms. Samuels: Do you mean The contract for equipment rental or the one for Training?
Bill: I was under the impression that Both contracts had the same terms.
Ms. Samuels: Yes and no. Let me see if I can clarify that. The terms are the same except that the contract for training has a Clause that allows for the Cancellation after the first six months.
Bill: Could you elaborate on that?
Ms. Samuels: Sure. What I mean is that either side could cancel the training contract after the six months as long as it’s In writing.
Bill: Let me see if I have that right. This contract is for six months of training, but if it isn’t cancelled, continues for another six months. Is that right?
Ms. Samuels: Yes, that’s right.
Bill: Okay, that’s clear enough. Let’s move on to the other terms