Failure to Review, Negotiate and Ensure Adequate Insurance Coverage in Leasing Contracts

Description

This Skill Bit shows that thoroughly reviewing and negotiating leasing contracts is essential to ensure fairness and clarity. Both parties should carefully assess and amend terms, seek legal advice if needed, and document any changes to avoid future disputes. Ensuring adequate insurance coverage in leasing contracts is crucial to protect against damage or loss. Contracts should mandate insurance, specify coverage requirements, and clarify responsibilities and costs for both parties.

Duration approx. 5 Min.

Tier: proficiency