Contracts provide the foundation for a legal relationship and should protect the interests of both parties. Most contracts are created during the honeymoon stage of a relationship; when both parties are eager to begin work, and then they are put on a shelf unless a problem arises. Like most relationships, things change; unanticipated conditions arise, new people are added to the mix, expectations evolve. A great contract can quickly become obsolete.

Annual contract review is an important management discipline to ensure an ongoing healthy relationship. Such a review can reveal areas for possible improvements and avoid pitfalls that can adversely affect your financial performance.

PHG in not a legal firm, nor do we offer legal advice, however, our 30+ years of experience reviewing management contracts can provide operational insight into opportunities for improvements and possible new term sheets. PHG also provides reviews of sales, food service and other facility contracts to help owners maximize the operation’s efficiencies and performance.