In the professional world there are many steps that take place in order for a deal to take place. Both sides of the transaction must come to terms and agree on what will happen, who will receive what, and when will this all take place. Writing contracts is a very important in order to make sure that people hold up their end of the bargain, and to ensure people do not lose what they have paid for, or what they have been promised. Negotiating the terms of the contract is the most important thing when coming up with a contract but the words that are chosen to be used in the contract are almost just as important. These words will set the tone for the relationship that will be developed through the two parties.
The first thing that must be decided is the particular price and payment schedule that will be taking place between the two parties. With any contract, it will be very difficult to comprehend what one party is trying say, as it will be very open ended. Regardless of these difficult interpretations, any contract is going to include a clear work plan with specific points outlining what the one party will be receiving. Contracts will usually contain what is listed below:
· Title
· Description of project
· Description of services needed
· Detailed list of the services to be provided with projected dates of delivery
· Who is responsible for what
· Communication about progress throughout the project
· Payment schedule
· Ownership of the work products
· How will conflicts be resolved
· How the parties can get out of the contract
· Proper Signature
The contract is not usually used as a legal document, only in certain circumstances are people perpetrated for not following the contract that was outlined. The contract is ways for the two parties communicate between each other, for both sides to understand what each expects of one another. The contract enables the parties to answer difficult questions before the work or job has begun.
For more information on Writing a Contract: http://www.techsoup.org/learningcenter/techplan/archives/page9838.cfm
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Contracts are needed for so many aspects of life; for example, scholarships, real estate, car sales etc. Because we are all about to participate in such things, if we haven't already, knowing the basics of something so important is a great thing. Good post!
ReplyDeleteI didn't know that a contract is usually not used as a legal document. Interesting stuff, Steve.
ReplyDeleteI did not know that a contract was not used as a legal document. In fact, I do not think this source is accurate with that statement. It only makes me question the validity of your site. All the other information matches up though. Good work!
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