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Basic Contract Template

Here's what you'll find in the Basic Agreement Template:

  • A contract template for basic contracts between two parties
  • Tips for protecting both parties by outlining items such as scope of work, payment terms, contract termination, etc.
  • Advice on getting contracts signed quickly, digitally, and legally
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Why You Should Have a Basic Contract Template for Services or Goods Provided

At one time, transacting business was easy. Two people agreed to make a trade, and both parties honored their word. But in the 21st century, people are all too aware of the stories of deal-breaking and lawsuits that have taken place all around them. In business, contracts are important because they outline expectations for both parties, protect both parties if those expectations aren’t met and lock in the price that will be paid for services or products agreed to between the parties. Having a written business contract means that everyone knows what he is supposed to do and when, and makes it easier to resolve any disputes that might arise. Sometimes, parties may be reluctant to draw up a contract because they’re in a hurry to finalize a deal. This is a bad idea. Taking on a job or receiving work with no formal contract in place is a disservice to all involved. Although writing up a contract may slow down the process of completing a deal or cause some tension in the short term it can help things go smoothly and prevent future problems. A contract is a written agreement between two parties that details the terms of a transaction. In a business, it generally states the work that will be performed, along with important information like due dates and costs. It can be easy to make your contract far longer and more complicated than it needs to be, but it’s best for everyone to try to keep it simple. Still, your simple business contract terms should at least include the following:

  • Full scope of work to be performed, including all deliverables.
  • Payment terms: the price for services, products or item being purchased. There should also be a clause around late payments, should those occur.
  • Deadlines: General timeline or, if possible, exact due dates for each milestone. This can include a payment schedule if not already outlined.
  • The circumstances under which the contract can be terminated and how that will be handled.
  • You should always include additional provisions that may apply to your transaction like: State where the Contract is enforceable, what happens in the event of a disagreement, limiting liability of the parties, including a non-disclosure clause or non-compete.

If you can afford an attorney, it would be wise to have one look over your contract to make sure you’ve covered everything. Once you have the initial draft, you should be able to simply update it with all of your clients. Protecting Both Parties  Although having expectations in writing increases the odds of success, it also makes enforceability easier. Simply knowing it’s in writing can put pressure on all involved parties to meet their obligations on time. The service provider will probably even routinely check the contract to make sure the work is progressing as agreed. If an issue arises, having the agreement in writing will make enforcement much easier. If the client decides to work with a different agency halfway through the project, the provider could take legal action to be paid for work performed. On the other hand, if the service provider performs poorly, the vendor will have legal protection against paying for the work. Closing the Contract  Hopefully, you’ll never have to take legal action based on the contract, which means the project will end and you’ll move on to the next project. Written contracts require signatures to be valid. Drafts may not be legally enforceable. Both parties should keep a copy of the contract on file for several years in case a later issue should arise. You’ll also have the template that you can tweak based on the lessons you’ve learned from previous projects. The information provided on this post does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Users of this website should contact their attorney to obtain advice with respect to any particular legal matter. No reader, user, or browser of this site should act or refrain from acting on the basis of information on this site without first seeking legal advice from counsel in the relevant jurisdiction. Only your individual attorney can provide assurances of applicable law or appropriate counsel to your particular situation.

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CONTRACT

________________, 2020 The undersigned Buyer agrees to buy and the undersigned Seller agrees to sell, upon the terms hereinafter set forth: 1. On the following terms. Purchase Price shall be: $__________. 2. Warranty. Seller shall convey to Buyer ownership of items free and clear of all liens and encumbrances not excepted by this contract. Seller agrees that is has full ownership and warrants against any claims made by third parties. 3. Taxes and Assessments. At closing, Buyer shall be responsible to pay on the purchase price all taxes, including penalty and interest, if any, due as part of this transaction. 4. Miscellaneous. Buyer has examined all property involved and, in making this offer, is relying solely upon such examination with reference to the condition, character, quality and improvements and fixtures, if any, and understands that the property is being purchased in AS IS condition. This contract constitutes the entire agreement and there are no representations, oral or written, which have not been incorporated herein. Time is of the essence of all provisions of this contract. All representations, covenants and warranties of the parties, contained in this contract, shall survive the closing. 5. Closing and Possession. This contract shall be performed and this transaction closed on or before , unless the parties agree in writing to an extension. 6. Additional Provisions, Terms and Conditions are attached on the Amendment attached to the Contract. The undersigned Buyer agrees to the terms herein and acknowledges the receipt hereof: ________________________ Signature ________________________ Printed Name The undersigned Seller agrees to the terms herein and acknowledges the receipt hereof: ________________________ Signature ________________________ Printed Name AMENDMENT TO CONTRACT

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Frequently Asked Questions

What is a free basic contract template?

A free basic contract template is a document that lays out the basic terms and conditions of an agreement between two parties. It usually includes the names of the parties, date, and agreement type. A Free Basic Contract Template might also include definitions for certain things such as what is to be provided, payment terms, and penalties for late or non-payment.

Who needs a free basic contract template?

You should use a basic contract agreement template if you want a simple, straightforward contract that covers the basics.
A free basic contract template provides a standardized form of agreement for standard transactions. It is used by both private entities and public organizations to minimize the time it takes to create legal agreements. In addition, there are many different types of contracts available for various purposes including sales contracts, purchase contracts, service agreements and more.

How to write a free basic contract template

Approveme.com’s legal professionals have written a free basic contract template for you! No need to worry about drafting up all the legal jargon, we’ve taken care of everything. Simply input your name and email, and we will send a service agreement directly to your email. Once downloaded, you can modify the content with your specific company information.

What must a free basic contract template have?

A contract is a legal document that contains all the agreements between two parties. It is important for both parties to know what they are agreeing to before signing it.
In order to ensure this, a free basic contract template word should include the following: The names of the two parties, the subject matter of the agreement, identity of any third party involved in the agreement, terms and conditions of the agreement, date on which the contract expires.

What should I put in my free basic contract template?

Your free basic contract template should have at least two parts, namely introduction and main clauses. The introduction part should provide general information about the contract, such as the identity of the parties, object of contract, date of commencement etc. The main clauses can vary depending on whether it's a sale or lease agreement, but they should include provisions for risk warranties and guarantees.

How to make a free basic contract template

To get your hands on a free basic contract template, you need two things: an email address and a name. After you’ve entered these by clicking the ‘download contract’ button and submitting them in our form, you will be sent an email with the attached contract available for download.

How long are free basic contract template good for?

A free basic contract template is only good for as long as it is valid. This can be an indefinite period of time, until otherwise specified by the contract’s terms and conditions. A free basic contract template can also expire after a certain amount of time. For example, one year from the date that you downloaded it or 70 days from when you start using it.

What are some free basic contract template examples?

You can find free basic contract template examples right on this page. Select Download Contract, enter your name and email, and receive a month to month rental agreement examples right in your inbox!

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The contents of ApproveMe are intended to convey general information and provide starter templates. The material on this site is for informational purposes only and does not provide legal advice or opinions. The contents of ApproveMe and the posting and viewing of information on this website should not be construed as legal advice or legal representation.

ApproveMe is not a law firm or a substitute for an attorney or law firm. The content provided by ApproveMe has not been reviewed or approved by an attorney and may not reflect the most current legal developments. You should seek advice and legal counsel of your choice concerning any particular issue or legal problem before acting upon any information derived from this site.