How to Solidify a Business Agreement Properly

Article submitted by Barry K Rothman.

An enforceable business contract plays an integral role in defining your business. Follow these tips to see why.

Document the Agreement

Although a simple handshake and promise might be binding in many situations, know that if somehow you were to end up in court, there’s no way to enforce any part of it. Even if the law does not require it, always be sure to document every agreement that you make with a client. It’s generally less risky than an oral agreement because you’ll have a written consensus that spells out each party’s rights and obligations in the case of a disagreement.

“Short and Sweet”

Rather than focusing on creating a complex document, keep it short and sweet. Contrary to what most lawyers say, you don’t need a stuffed, legal-laden contract to make it enforceable. Instead, keep it simple with numbered paragraph headings that tell the reader what’s in the paragraph. Just because you’re simplifying the contract, doesn’t mean you’re skimping out on any details.

Speak to an Authoritative Figure

Just like you’d want your clients to deal with you as opposed to a junior at your business, you’ll want the exact same thing during the negotiation process. During a business agreement, politely request to be in touch with the individual in charge. This is important because he or she must have the authority to bind the business and perform its obligations under the agreement. By playing “telephone” with another company, you’ll only make things more difficult in the future if issues were to arise.

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