That contract clause I always skimmed finally bit me, now I read everything twice

Signed a vendor deal in March for office supplies, $1,800 a month. There was a renewal clause that auto-extended for 12 months unless I gave 60 days notice. I never read past the pricing section. Got hit with the renewal in June and now I'm stuck until next March. My accountant pointed it out and said she sees this all the time. I spent 3 hours combing through every other contract I have and found two more auto-renewals I didn't know about. One was for a phone system, that one is $400 a month. Has anyone else gotten burned by a hidden auto-renewal? How do you catch these before signing?

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1 Comment

the_quinn1d ago

Take that accountant out for lunch, seriously, they just saved you a chunk of change. Once you find one sneaky clause, a full audit of everything else is the only way to go, even the stuff you think is locked in.