Commercial contracts are essential to establish relationships between companies and partners. They establish the conditions of the agreements, services or products of exchange and any deadlines associated with the partnership. They avoid the emergence of disputes and misunderstandings. Use these tips to write a business contract for your business.
Steps
Method 1 of 1: Write a Commercial Agreement
Step 1. Name the document
Use the terms "Agreement" or "Agreement" to distinguish it from other legal documents in your records.
Step 2. Break the document into several paragraphs, each of which should be centered around a purpose or intent
Mark each paragraph with a letter or number to distinguish it from others.
Step 3. List the parties involved in the contract
Include contact information when listing parts. When you refer to the parties later in the contract, you will be able to abbreviate their names.
Step 4. Specify the purpose of the agreement before providing the details
The purpose includes the services offered, the product made, the work employed or any other point relevant to the purpose of the agreement.
Step 5. Indicate any economic issues
These could include costs, payment methods, interest charges due to missed or delayed payments. Deadlines and amounts should be accompanied by specific information. For example, if the payment deadline is mid-month, the contract should specify "by the 15th of the month".
Step 6. Identify all deadlines associated with the contract, along with the date of issue of the contract
Project completion, product delivery or other deadlines should be clearly written to protect all parties to the contract.
Step 7. Specify the expiration date and conditions for a possible renewal of the contract
Many contracts, such as rental contracts, expire. The details of the deadline should be explained in detail.
Step 8. Write down the consequences resulting from the breach of the contract for both parties
Often the consequences include payment for services not rendered, reimbursement for damages suffered and termination of the contract.
Step 9. Enter a confidentiality clause if part of the partnership is not to be disclosed
Many transactions should not be made public. A confidentiality clause prevents the parties from sharing contract and business partnership details.
Step 10. Provide the termination conditions
Most contracts can be terminated through modifications or other requests. It specifies how the contract could be terminated and the consequences of termination.
Step 11. Create lines to sign the parties to the contract
Leave space for names and dates, as well as space for a witness's signature. Ask that all parties sign the contract before it is applied.
Advice
- Consult a lawyer if you have any doubts about the laws that bind the drafting of your contract.
- Use an old contract from your company as a template for the new business contract.
- Avoid forensic rhetoric, unless you are a lawyer. It is not essential to write a suitable contract. However, the language should be clear and specific to emphasize the purpose and details of the contract.
- If in doubt, consult the business contract templates available on the Internet.
