Friday 4 May 2012

Pause before you Sign

It sounds so simple to read all the fine print before signing anything, but the fact is very few of us do take the time and ensure we understand all the details first.

1. Read the document carefully:
Often, we don't read the fine print of contracts because of the quantity of paperwork attached or because the legal wording is impossible to understand unless you're a lawyer. Sometimes the content is just so voluminous that it seems overwhelming to actually try to read all of it.

2. Be more cautious while signing a certain types of document:
Documents of importance to comprehend fully would be, of course, a mortgage agreement, many people feel that they did not fully "get" that they were signing for a variable rate mortgage, nor what it could really amount to if the rates did go up. Documents about money and property should be read more carefully before signing.

3. Be aware of duration of contract:
You need to know ahead of time how long the contract is binding for and other terms and conditions.

4. Don’t be in a hurry:
We are in such a rush to get a deal done that we often neglect to understand all the terms and obligations. It is very important to comprehend all the key points before putting your pen to paper.

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