Following on from our original blog on how to give your business a legal spring clean, we’re digging deeper into the world of contracts – and how to make sure they’re still working for you (not against you!).
Contracts are often something we put in place, file away, and forget about. But over time, things change – and your contracts should change with them.
Here’s our practical, step-by-step guide to giving your contracts a much-needed once over:
Step 1:
round them up
Sounds simple, right? But you’d be surprised how many of us don’t actually know where all our contracts are stored. Check in the following places:
- Shared drives (Google Drive, Dropbox, SharePoint)
- Old email threads and attachments
- Physical files in filing cabinets (yes… we know….)
- Random folders on desktops or external hard drives
What this does: It helps you create a single source of truth. If you don’t know what you’ve agreed to, you can’t manage the risks (or the opportunities you may have).
Once you’ve pulled them together, create a simple spreadsheet to create a Contracts Database. You’ll need to include:
- Contract name
- Parties involved
- Start/end date
- Auto-renewal date
- Key obligations
Our practical tip: Set up a shared folder and link each contract directly from your spreadsheet for easy access. Makes it so much easier to find things later on!
Step 2:
are the terms still right for you?
Let’s face it, our businesses change, as do working relationships. It’s always good to check that the terms still reflect the way you’re still working. We’ve set out below, some questions to help you to think about this:
- Has the scope of the agreement changed? Maybe you started working together based on smaller jobs, but things have grown and you now do much more for this customer or supplier.
- Are the payment terms still right? Are you still on old rates or outdated invoicing cycles?
- Have legal or regulatory rules changed (We’re mainly talking about GDPR updates or best practice)?
- Are your termination provisions clear and fair? If you really wanted to, could you get out of the contract?
- Have there been amendments or addendums made since it was signed? This is the number one thing we all do. We’re happy to amend the contract (usually for the better) but those amendments are hidden in an email chain… somewhere! Make sure you pull them out and save them with the contract. They may not need to be formally documented but they will certainly need to be easy to find.
What this does: It helps to make sure that your contracts reflect reality and that you’re not bound by outdated or unfair terms.
Our practical tip: Compare key clauses of your contracts to your own TCs template to see what the difference is. Ask yourself why the terms are different, just because you signed someone else’s contract.
Step 3:
know what good looks like
A well-drafted contract doesn’t need to be long or complicated (I can hear cheers from the lawbox. hub as I write). BUT, terms should be clear. Make sure that you check the list below to identify what we’d expect to see in every contract:
- Names of the parties
- Start and end date (or how to terminate)
- What each side has to do (scope of work or services)
- Payment terms
- Confidentiality clauses
- Intellectual property (who owns what)
- Limitation of liability
- Termination provisions
- Governing law
What this does: It protects you legally and commercially, while giving clarity on rights and responsibilities at the same time.
Our practical Tip: Use the basic checklist above to run through every time you review or sign a contract. It’ll really help you to flag anything that is missing or unclear.
Bonus Tips:
Flag key dates
In your contracts database, add a column for:
- Renewal dates
- Review points
- Termination notice deadlines
Set calendar reminders to avoid nasty surprises.
What this does: Helps you stay ahead of auto-renewals and renegotiation windows.
Prioritise high-risk contracts
If time is short, focus first on:
- Auto-renewing supplier agreements
- High-value contracts
- Anything involving key IP or data
What this does: Tackles the areas with the biggest risk or value first.
Refresh your templates
If you regularly reuse templates (NDAs, T&Cs, consultancy agreements), check for:
- Outdated legal references
- Irrelevant clauses
- Old terminology
What this does: Ensures consistency and compliance across all your deals.
Review permissions
Who can access your contracts? If everything’s in one shared folder with no permissions… that’s a risk. Lock down sensitive documents and make sure access is restricted to those who need it.
What this does: Prevents unauthorised access or accidental changes to key documents.
Check internal policies
Your contracts and policies should align. For example:
- Your DPA should match your privacy policy
- Your consultancy agreements should reflect your IP policy
What this does: Keeps your business consistent and reduces risk of internal conflicts or legal exposure.
Ready to roll up your sleeves?
A spring clean of your contracts might not sound sexy, but it’s one of the most valuable things you can do to future-proof your business.
And if you’re stuck, overwhelmed, or not sure where to start, let us know. We’re here to help!