Preparing a Business Contract

Your contract need to be validated.

Have you tried making a business contract? A business contract is not just a random paper as I came to learn. You know, to close a business deal, you definitely need a legal business contract in writing between the parties. For as long as I have been writing for business, I have critiqued contracts from a number of firms and pointed out a number of omissions.

This has prompted me into outlining a simple directional structure that will make your process of writing and making your business contract valid legally acceptable.

 Basic agreement 

As a business manager, you need to come up with a summary of the basic terms of your agreement in writing. I advice that before making a business contract, you reach a final agreement on all the terms and if possible I suggest that you confirm these terms with the other party by email.

On the internet, we have limitless samples of the relevant business contracts that can assist you with this. In my interactions with the internet, I have come across various types of business contracts with existing templates online. You can select a template that is relevant to your business then modify the content in it to suit your terms. If you have an existing simple business contract, you may not need a sample agreement as it may be easier to make your own as a letter agreement that is then signed by all parties.

Agreement clause 

In the agreement, include all terms and specific agreements within your business contract.  You have to confirm that you have written comprehensively written the contract bearing in mind the Who, What, When, Where, Why and How regarding the terms and conditions. Considering the 5W and H strategy, you will have comprehensively handled every bit of the agreement.

The 'what if' Scenarios 

Since you may not be informed about any possible alterations and consider "what if" scenarios and the best way to handle them. I suggest that you consider any possible miss-being such as non-performance, lateness and default and come up with the remedies to handle such cases. Remember to always discuss any changes on the terms or new terms with the other party if applicable.

Legality

In cases of large companies, I suggest that you send the contract to the attorney for review before getting into the deal. This is important because including the attorneys’ approval assures you of compliance with the law.

You then will have to send two original copies to the other party with a short cover letter.  Both parties should then initial each page of the agreement and sign and date on the last page. After the other party has initialed and signed the contracts, sign them and send one original back for the other party's records.

Identification

However, I suggest that the other party includes their Identification documents on the agreement to bind them to the contract. Many businesses do not take this seriously but I suggest that since you know, you have to include the identification documents on the deal.