Every business makes commercial contracts if it
- sells goods
- provides a service
- uses an agent
- has shareholders who need to agree how the business is to be run
Any Agreement a business makes must be clear and practical to perform. There is more to consider than if the customer will pay £10 for X goods as there is a lot that can and will go wrong.
A commercial contract does not have to be in writing to be binding on both parties but it is much easier to all involved if it is.It saves all those arguments about what was actually agreed and what the solution is if things do not run to plan.
There are many commercial contracts any small business needs. The list is endless but include:
Services Agreement- for customers using your services
Supply of goods contract
Sales Agency agreement
Sub contract agreement
Non disclosure Agreement
Heads of Terms- for potential agreement.
Every term in every Commercial Contract has alternatives available. There is an art to choosing the right one for that contract.
Beware of the wording you use in a Commercial Contract.Many words have legal meanings that are not necessarily the same as everyday meanings.
The Example of a Commercial Contract
For a Service Contract matters to consider include
- the service
- ownership of IP created
- data protection
- health and safety
- the limit of liability
- payment terms
The Risk of not doing this properly
Taking legal documents off the internet if you are not legally trained is not a good idea. Why ? -Words can have legal meanings that are not exactly the same as in every day use.
Contact us today on 0759 004 7669 or by our contact form on https://www.barkleybusinessservices.co.uk/contact/
We can provide practical contracts to fit your personal circumstances at a very reasonable cost. Whilst working through these with you we will bring to your attention the potential problems and issues you should think about carefully. .