When a TC agreement says reminders only, who actually owns the deadline
Take a transaction coordinator's client agreement with three clauses worth reading closely before signing. First, if the scope exhibit says the coordinator provides calendar reminders of contractual dates but does not verify the accuracy of dates or the completeness of documents, the client is being reminded about a date nobody is actually checking. Second, if liability is capped at the fee, say 395, with an indemnity running from client to coordinator covering claims arising from the transaction, the exposure sits almost entirely on the client's side. Third, if the fee is due at closing or on cancellation, whichever comes first, with no reduction for cancellation, the coordinator is paid regardless of outcome. The useful question to ask before signing is what the agreement is actually buying if the coordinator is not verifying dates and is not liable beyond the fee, and the agent remains responsible for the contract. In most cases the honest answer is that it buys organization and a point of contact, not risk transfer. Reasonable requests to push for are a stated responsibility to flag discrepancies she notices even without a duty to verify, and a cancellation fee that scales down rather than a flat charge regardless of timing.
