Generic Business Agreement Format
Contract agreement is usually a legally negotiated, or enforced, understanding between two or more parties. A business agreement is typically supposed to document the minimum standard of performance that will be acceptable, and the give and take of the settlement negotiated between the competent parties.
Business agreement can be regarded most important for business and real estate purposes. Standard contract agreement templates and samples are easily available on various websites. All kinds of business, be it of any size small scale or large scale, require to make a contract agreement with their vendors or customers in order to eliminate the risk factor involved. There are some essential elements of a contract that make it enforceable: specific offer, acceptance of that offer, mutual consent of the parties involved, parties must exchange something of value be it any product and/or service, and lastly the contract must have a legal purpose. A contract will be valid if any of the above mentioned elements is missing, but it will not be enforced by court.
A varied set of terms and clauses, set and agreed upon by all the parties involved, are contained by a business agreement. It is wise to put in clauses regarding the circumstances under which the contract can be terminated, and agree on how the disputes will be resolved. One way to proceed in times of clash is to agree on handling any dispute through arbitration instead of going to a court which takes up a lot of money and time. In an arbitration proceeding, a neutral third party gives a binding/nonbinding decision on hearing the evidence from all the parties involved.
Business Agreement Format
Microsoft Word document file | File size 19 KB | No. of pages = 3 | Download