If you had the choice to enter into a smooth business relationship or a rocky one, which would you choose? The answer, of course, is simple.
There may be some situations when a handshake agreement may be enough. But how often does that actually happen? Even between friends, things unfortunately, often go awry, and when that happens, all the best intentions can be forgotten.
While there are some contracts that always have to be in writing, others do not. Regardless of whether a contract is required to be in writing, it is usually a good idea to put the agreement down on paper so that all parties are clear as to what that agreement entails.
Situations may seem simple at first glance, and an arrangement may even be reached. But what if something goes wrong? What happens when something does go wrong? Who is responsible? How is the situation going to be remedied? What are the consequences of a delay, or a printing error, or a deliberate circumvention of a point of agreement? Is money going to be exchanged? How will the exchange take place? When, exactly, will all services be provided?
These questions, among others, are often overlooked when an agreement is being made, everyone is on good terms, and the deal needs to get done. The time and effort associated with preparing a written agreement may seem daunting and unnecessary but, when someone does not hold up their end of the deal, what happens then? What about the time, effort, and cost that will be associated with fixing the problem? It is not worth it.
Putting an agreement in writing is about clarifying expectations for those involved. For example, even a simple invoice often has terms on it and those terms govern how the parties interact. Making sure that everyone understands the expectations and responsibilities associated with any deal is crucial to a smooth business relationship and there is no better way to do that than to put it in writing.
Contact us today to find out how we can help you prevent a rocky business transaction!