3 Questions to ask yourself when signing a composite contract

As you gear up for another exciting year as an officer in your sorority or fraternity, one thing that might be on your radar is signing a composite contract. It may sound a bit intimidating, but fear not! We're here to break it down and prepare you for this important step. Let’s make sure you’re armed with the right questions to ask before diving in!

1. Who is authorized to sign?

First things first, find out who gets to put pen to paper. If your organization is licensed (most use Affinity Licensing or Collegiate Licensing Company), chances are that only the President or an Advisor is authorized to sign agreements. This helps keep things neat and tidy, preventing overlapping contracts from different vendors. So, before anyone signs on the dotted line, confirm who has the green light in your group!

2. How long is the term of the contract?

Contracts can have varying lengths, but generally, you don’t want to be stuck in one longer than two years. It may even be the rule from your Nationals. While longer terms might come with discounts (who doesn’t love a good deal?), keep an eye out for the fine print. Sometimes, deep discounts can lead to a sudden jump in price the following year—like that one relationship you thought was great until it wasn’t! So negotiate! Make sure the terms meet your chapter’s needs and get those agreements in writing. Remember, it’s all about what you feel comfortable with!

Tip: Get it in writing!

If you and the company discuss specific terms, discounts, or promotions, ensure they’re spelled out clearly in the contract. Don’t hesitate to modify any unclear sections to reflect what you discussed. After all, you want to sign on the line only when you’re happy with the final details.

3. Are there additional fees?

Surprise fees are like getting a pop quiz when you thought it was a review day—definitely not fun! Always ask for an itemized price quote. Ensure it includes everything from taxes and shipping to any optional fees like reusing last year's photos or insurance. Knowing the difference between a deposit and the final invoice is key, too. If anything feels murky, ask for clarification, so you won’t find yourself blindsided by a bill later.

Wrap-up

Navigating your sorority or fraternity composite contracts doesn’t have to be scary! With these questions in your back pocket, you'll be well-prepared to tackle the process confidently. Remember, becoming informed is empowering, so don't hesitate to ask questions or seek advice.