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A standardized contract, also known as a standard form contract, is an agreement between two parties where one party sets the terms and the counterparty has little or no ability to change them.
What are examples of standard forms of contracts?
A standard form contract is generally understood as a set of standard terms and conditions that is issued on a repetitive basis to multiple people, for example, a gym membership application form or the terms and conditions governing an electricity service.
Which contract is a standardized contract?
Standardized contracts use preapproved contract templates to maximize consistency and streamline the end-to-end contract process. Often called boilerplate or standard form contracts, the terms and conditions of these documents are predetermined and preapprovedso they typically allow little room for negotiation.
What constitutes a standard form contract?
A standard form contract will typically be one prepared by one party to the contract and not negotiated between the partiesit is offered on a take it or leave it basis.
What is the standard form of a contract?
A standard form contract is an agreement where one party has prepared the agreement and the other party has had little to zero input regarding the terms of the contracts. Standard form contracts will usually be similar to other contracts the business offers this is done largely for efficiency.
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Examples of standard form contracts include software licence user agreements where you tick a box to indicate that you agree to the terms and conditions of use.
Related links
Standardization of Standard-Form Contracts: Competition and
by MR Patterson 2010 Cited by 106 Standard-form contracts are a common feature of commercial relationships because they offer the advantage of lower transaction.
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