2016-12-28 00:00:00 Advice English Learn what a business contract is and about the various pieces of information that are typically included in one. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Legal-Book-Rests-On-Top-Of-Business-Contract-Notes.jpg https://quickbooks.intuit.com/ca/resources/advice/how-to-draw-up-a-business-contract/ How to Draw up a Business Contract

How to Draw up a Business Contract

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A business contract is a legally binding document between at least two entities, drafted for a specific purpose. While contracts are best kept as simple as possible, some elements tend to always be included:

  • Parties involved – Include the names and addresses of all the people and/or businesses involved.
  • Scope – This is a clear description of what goods and services will be provided, and by what due dates.
  • Price and payment – This is a description of how much the goods or services cost and the way they will be paid.
  • Responsibilities – Describe which party is responsible for what; include possible events such as missing a deadline.
  • Terms and conditions – Include any special clauses.
  • Signatures – All responsible parties must sign and date the contract.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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