Monday, June 24, 2013

Need to Write a Business Contract?

My last post included tips on what to know before you sign a contract.  This post is for you if you need to write a business contract.

We are in business and sometimes that requires us to have agreements in writing.  My son's catering company uses contracts as a regular part of his business.  They spell out to the bridal couple what they can expect from him as a caterer in return for their deposit and final payment.

It's important that the contract you are writing for your business protect you.  It should indicate exactly what you are offering in return for your goods and what your terms of service are. 

Will there be a refund for cancelled events? 
Will you keep deposit monies? 
If you make a custom made item, do you offer returns?  
What are the consequences for breach of contract?

Be as specific as possible including dates, names, times.  Leave little to chance or ambivalence.  Contracts are to CYA!  Think of possible scenarios that may play out.  What are possible outcomes that may arise? 

Adding dates is important, however, make sure that they are accurate, current and realistic.  A wrong date put on a contract or a promise that something will be delivered within a time frame when it isn't can lead to more headaches that you want to deal with.

Check out the 2 sites below are 2 sites for more information writing a business contract.

http://smallbusiness.findlaw.com/business-contracts-forms/how-to-write-a-business-contract.html

http://www.wikihow.com/Write-a-Business-Contract

Angela DiCicco

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