While verbal contracts are considered valid and do hold weight, it relies entirely on good faith between both parties. It is absolutely advisable that all types of agreement be put in writing, especially contracts involved in business, as verbal contracts can be very difficult to prove. Having a written contract is a security measure that could protect you should there be trouble ahead.
When drafting and signing a business agreement, there are some legal guidelines that must be followed to ensure that the contract is considered binding in the eyes of the law. Download these Sample Agreements that you could use as reference for the necessary elements a business agreement must contain.
This Business Agreement (the “Agreement”) is made and entered into on this [Day] of [Month], [Year], by and between:
Party A: Name: [Name] Address: [Address] Email: [Email] Phone: [Phone]
Party B: Name: [Name] Address: [Address] Email: [Email] Phone: [Phone]
RECITALS
WHEREAS, Party A is in the business of [description of business]; and
WHEREAS, Party B is in the business of [description of business]; and
WHEREAS, the parties wish to enter into an agreement for the purpose of [purpose of agreement];
NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the parties hereto agree as follows:
1. TERM
This Agreement shall commence on [Start Date] and shall continue in full force and effect until [End Date] unless terminated earlier in accordance with the provisions of this Agreement.
2. SCOPE OF WORK
Party A agrees to [describe the services/products Party A will provide].
Party B agrees to [describe the services/products Party B will provide].
3. COMPENSATION
The parties agree that compensation for the services provided under this Agreement shall be as follows:
4. CONFIDENTIALITY
Both parties agree to maintain the confidentiality of any confidential information shared between them and not to disclose such information to any third party without the prior written consent of the other party.
5. INTELLECTUAL PROPERTY
Any intellectual property developed during the course of this Agreement shall be owned by [Party A/Party B/Both parties as specified].
6. TERMINATION
This Agreement may be terminated by either party upon [number] days’ written notice to the other party. In the event of termination, both parties shall be responsible for completing any outstanding obligations up to the date of termination.
7. INDEMNIFICATION
Each party agrees to indemnify, defend, and hold harmless the other party from and against any and all claims, liabilities, damages, and expenses (including reasonable attorneys’ fees) arising out of or related to the performance of this Agreement.
8. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
9. DISPUTE RESOLUTION
Any disputes arising out of or in connection with this Agreement shall be resolved through [mediation/arbitration/litigation] in [location].
10. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements, understandings, and representations, whether oral or written.
11. AMENDMENTS
This Agreement may be amended only in writing and signed by both parties.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.
Party A: Signature: _________________________ Name: [Name] Title: [Title] Date: [Date]
Party B: Signature: _________________________ Name: [Name] Title: [Title] Date: [Date]
Attachments: [List any attachments or exhibits related to the agreement]
John Doe 123 Main Street Anytown, NY 12345 [email protected] (555) 123-4567
June 18, 2024
Jane Smith 456 Oak Avenue Othertown, NY 67890 [email protected] (555) 987-6543
Dear Jane Smith,
RE: PAYMENT AGREEMENT
This Payment Agreement (the “Agreement”) is made and entered into on this 18th day of June, 2024, by and between:
Party A: Name: John Doe Address: 123 Main Street, Anytown, NY 12345 Email: [email protected] Phone: (555) 123-4567
Party B: Name: Jane Smith Address: 456 Oak Avenue, Othertown, NY 67890 Email: [email protected] Phone: (555) 987-6543
1. PURPOSE
The purpose of this Agreement is to outline the terms and conditions under which Party B agrees to pay Party A the amount of $5,000 for services rendered.
2. PAYMENT TERMS
Party B agrees to pay Party A as follows:
3. METHOD OF PAYMENT
Payments shall be made via bank transfer to the following account:
4. LATE PAYMENTS
If Party B fails to make any payment on or before the due date, Party B agrees to pay a late fee of $50 per week of delay.
5. CONFIDENTIALITY
Both parties agree to keep the terms of this Agreement confidential and not disclose any information regarding this Agreement to any third party without the prior written consent of the other party.
6. AMENDMENTS
This Agreement may be amended only in writing and signed by both parties.
7. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of New York.
8. DISPUTE RESOLUTION
Any disputes arising out of or in connection with this Agreement shall be resolved through mediation in Anytown, NY.
9. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements, understandings, and representations, whether oral or written.
10. SIGNATURES
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.
Party A: Signature: _________________________ Name: John Doe Date: June 18, 2024
Party B: Signature: _________________________ Name: Jane Smith Date: June 18, 2024
This Contract Agreement (the “Agreement”) is made and entered into on this 18th day of June, 2024, by and between:
Party A: Name: John Doe Address: 123 Main Street, Anytown, NY 12345 Email: [email protected] Phone: (555) 123-4567
Party B: Name: Jane Smith Address: 456 Oak Avenue, Othertown, NY 67890 Email: [email protected] Phone: (555) 987-6543
RECITALS
WHEREAS, Party A is in the business of providing graphic design services; and
WHEREAS, Party B is in need of graphic design services for a marketing campaign; and
WHEREAS, the parties wish to enter into an agreement for the purpose of providing these services;
NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the parties hereto agree as follows:
1. TERM
This Agreement shall commence on June 18, 2024, and shall continue in full force and effect until September 18, 2024, unless terminated earlier in accordance with the provisions of this Agreement.
2. SCOPE OF WORK
Party A agrees to provide the following services:
Party B agrees to provide the following:
3. COMPENSATION
The parties agree that compensation for the services provided under this Agreement shall be as follows:
4. CONFIDENTIALITY
Both parties agree to maintain the confidentiality of any confidential information shared between them and not to disclose such information to any third party without the prior written consent of the other party.
5. INTELLECTUAL PROPERTY
Any intellectual property developed during the course of this Agreement shall be owned by Party B upon full payment to Party A. Party A retains the right to use the designs for portfolio purposes.
6. TERMINATION
This Agreement may be terminated by either party upon 30 days’ written notice to the other party. In the event of termination, both parties shall be responsible for completing any outstanding obligations up to the date of termination. Party A will be compensated for any work completed up to the termination date on a pro-rata basis.
7. INDEMNIFICATION
Each party agrees to indemnify, defend, and hold harmless the other party from and against any and all claims, liabilities, damages, and expenses (including reasonable attorneys’ fees) arising out of or related to the performance of this Agreement.
8. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of New York.
9. DISPUTE RESOLUTION
Any disputes arising out of or in connection with this Agreement shall be resolved through mediation in Anytown, NY.
10. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements, understandings, and representations, whether oral or written.
11. AMENDMENTS
This Agreement may be amended only in writing and signed by both parties.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.
Party A: Signature: _________________________ Name: John Doe Title: Graphic Designer Date: June 18, 2024
Party B: Signature: _________________________ Name: Jane Smith Title: Marketing Manager Date: June 18, 2024