Year-End Contract Review: Renegotiate Before Prices Rise 

Written By Kevin McKernan

Why Year-End is the Right Time to Review Contracts 


Contracts often renew automatically unless you give notice - sometimes 30,60, or even 90 days in advance. That means waiting until January could be too late to make changes. Reviewing now helps you: 

  • Spot expiring contracts early 

  • Negotiate before costs go up 

  • Revisit terms that no longer fit 


Key Areas to Focus on: 

  1. Vendor and supplier contracts 

  2. Client agreements 

  3. Leases 

  4. Service subscriptions 


Questions SMBs Should be Asking Before Renewing or Renegotiating Contracts 

  • When do my major contracts expire? 

  • Can I negotiate better terms? 

  • Have my business needs changed? 

  • Do I have everything documented? 


What to do Next: 

  1. Create a simple contract tracker 

  2. Review high-cost or long-term agreements first 

  3. Flag renewal clauses or risky terms 

  4. Consult a Legal Pro before renegotiating

This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client.

For further information please contact me at www.kmckernanlaw.com kevin@kmckernan.com or 718-317-5007.

Kevin McKernan
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