Making a deal does not simply need a pair of businessmen’s hands to shake and agree unto, but this must be made in writing such as in an Contract Agreement Form. These documents are mainly created to lay the plans, terms, and the obligations of the involved people. Though these two may have varying levels of importance due to the legality level of each, these must be finalized before starting to work out with an agreed project, transfer, or payment.
Financial Agreements may be separated into two: Business and Organization Financial Agreement, and Binding Financial Agreements.
Business and Organization Financial Agreement Forms
Banks, financing agencies, and attorneys are the people who mostly use Agreement Forms with their clients especially when dealing with assets, finance, and liabilities. One evidently used Agreement Form is a Loan Agreement Form. The person or entity who is responsible for setting the terms of this document is the lender or the financial provider of a client. There are various sections of this agreement which can be categorized into the following sections:
- Interpretation – This section is seen in most Contract Agreement Forms and will state the definitions of the terms used in the document.
- Mechanical – This will state the amount needed by the borrower, the method of repayment, and the interest associated with the loan.
- Transaction – This is where the parties’ responsibilities and obligations will be stated such as the schedules and the expected actions that the parties must do to comply with the agreement.
- Boilerplate – This area will have the possible clauses and the penalties or sanctions in the event that one of the parties was not able to comply with the stated terms.
Loan Agreement Form Sample
Another form which is connected with the aforementioned Loan Agreement is the Guarantor Agreement Form. This agreement form is for those people who will be obligated to pay the remaining balance of a borrower in the event that the borrower can no longer pay or goes on a default. The guarantor must not be in a bankrupt financial state and must be in a sound mind and body to fulfill his roles.
Guarantor Agreement Form Sample
Can a Guarantor Agreement be Terminated and Cancelled?
Letting and financing agencies are the ones who constructed the Guarantor Agreement Form, and they must assure that their agency will not be buried deep down due to borrowers who are not responsible people. With this, most Guarantor Agreement Forms have a statement included that the guarantors may not cancel or terminate a contract where he signed. However, there will also be areas of the contract or agreement which will protect a guarantor form being too obligated for the borrower’s loan. Nonetheless, to prevent facing obligations and financial problems, a guarantor must always ask for a separate contract where his limitations will be stated to protect him in future cases.
Installment Agreement Form Sample
Installment Agreement Form is also used for financing, specifically for paying taxes. This is used by government authorities for seeking tax payments and other fees from an individual who had debts. With this form, the debtor may pay on a monthly or quarterly basis depending on what the lender has agreed.
In the United States, the IRS or the Internal Revenue Service have a program which aids taxpayers to pay taxes in an installment basis known as the Installment Agreement Program. This government program showcases four agreements for the taxpayers: The Partial Payment Installment Agreement, Guaranteed Payment Installment Agreement, Streamlined Payment Installment Agreement, and the Full Payment Installment Agreement.
Deposit Agreement Form Sample
Deposit Agreement Forms are also documents to be used in dealing with finances. This Agreement Form can be used by sellers, landlords, and property dealers. With the aid of this form, the users can state and view the amount needed and paid as the deposited amount, the terms of the deposit, and the property or subject of why the deposit has been required.
Since deposits are essential for rental businesses and house tenancy, landlords use two separate deposit forms for meeting two various purposes:
- Security Deposit Agreement Form – This is the type of agreement that a landlord and a tenant must use if the intention is to provide a deposit as protection for events which may result in the destruction or damage of the landlord’s property done by the tenant. The amount that a tenant granted for this Security Deposit may be released at the end date of the Lease Agreement.
- Holding Deposit Agreement Form – This agreement form will be used if a tenant will request for a rental property reservation. However, unlike the security deposit which can be acquired by a good tenant at the end, the holding deposit will not be returned if a tenant will back out from signing the Tenancy Agreement and from fully renting the property.
Investment Agreement Form Sample
Financial Agreements are also useful for business entrepreneurs and business minded people such as company investors and shareholders. For these types of men, an Investment Agreement Form will serve a great purpose for their business. This form will provide a protection for the investors and the company from miscommunication as it will highlight the terms and conditions of the invested property or financing amounts.
Vital Areas in an Investment Agreement Form
- The Involved Parties – Unlike other Agreement Forms where two people will be considered as the involved parties, an Investment Agreement Form will demand the participation of three entities, not individuals: the existing investors, the entering investors, and the future company shareholders.
- The Payments – This area will state what amounts will be paid by the investor for the development of the company, and what the investor may expect to receive in return.
- Completion Conditions and Mechanics – This will state the terms and conditions, as well as the roles of the investors in the company.
- Consent – In this area, the rights of the investor to receive a notice of consent from the company’s board of directors will be stated. It is important that all actions of thee company with regards to thee invested amount or property must have a full consent from the investor.
- Confidentiality – This will indicate a statement that all the terms and matters printed on the Agreement Form must be kept confidential and must be used by the authorized and involved people only.
- Termination – This will highlight the end date of the agreement as well as the causes of the agreement’s termination or cancellation.
Partnership Agreement Form Sample
Investing is just one way to be with a company but being a partner and sign a Partnership Agreement Form will be the better option especially if both parties aim to work together and deal with the company’s profit and losses. There are three known Partnership Agreement Forms: the general, limited, and limited liability partnership agreement.
Varieties of Partnership Agreement Forms
- General Partnership Agreement Form – This document will be used by general business partners. It will state the responsibilities, roles, and the liabilities of both parties. When this agreement is signed, it protects each party from facing lawsuits personally since the agreement will include all the involved parties to be sued.
- Limited Partnership Agreement Form – This agreement is for both limited and the general partners. Limited partners are those people who have provided a contribution for the company but will not be making any action such as dealing with the company’s daily activities.
- Limited Liability Partnership Agreement Form – This will be for partners who have specific and limited liabilities. Each partner will have an area where he will be held liable for any actions made in the company unlike the general partnership where all partners are liable for everything, and the limited partnership where partners will not be doing anything but only contribute and invest in the company.
Joint Venture Agreement Form Sample
A Joint Venture Agreement Form, on the other hand, will be for those parties who aim to contribute for the accomplishment of a particular task or project. This Agreement Form may be used by any institution and organization for making successful events such as camps, tutorials, and event marathons to be held in a city.
Three Benefits of Using Joint Venture Agreement Forms
Joint Venture Agreements will act slightly similar to a Partnership Agreement where two parties will be partners. However, there are a lot of known benefits of signing a Joint Venture Agreement rather than latter, and these are as follows:
- It is temporary. Joint Ventures are made for an event and project which means that after a said project has been done and accomplished, the parties may then set their sails apart and move on to another activity separately.
- Resources are accessible. Both parties may access the resources of each party which grants allows the parties to know what they may borrow and use from each other for the success of their project.
- Financing shares. Aside from the resources and materials that the parties may share, they may also provide financial help to one another to complete their task. The possibility of a high cost for financing an event will be lesser since there are two companies funding the event.
Binding Financial Agreement Forms
Aside from financing companies, business entrepreneurs, and organizations, couples may also use a type of Financial Agreement Form for their marriage. This form is commonly known as a Prenuptial Agreement. This agreement will indicate and list down the assets, finances, and the properties of the couple.
Prenuptial Agreement Form Sample
Importance of Prenuptial Agreements
Prenuptial Agreements are as important as Marriage Contracts in binding the responsibilities of the couples. However, this agreement is made and signed before the day of the wedding ceremony. Couples who have huge amounts of assets and owned properties should have this agreement due to the following reasons:
- To acknowledge the ownership and titles of each party with regards to assets, money, houses, and real estate properties.
- To address financial issues and expectations of the couple. When everything is addressed, the likeliness to have fights about sharing finances will be lesser compared to not being able to know and meet the expectations of each party.
- To separate properties permanently. There are certain properties which may not be transferred to the spouse due to inheritance reasons therefore these should be numbered on a list of the separate properties not intended to be given or sold by the spouse.
- To specify spousal support and promote financial independence. This will also allow the couple to face future divorce processes easily compared to not being able to prepare statements about the support.
- To know who will take hold and receive the properties in events of a partner’s death. A spouse last will and testament may be addressed to the children or to his own family. Nonetheless, the other party must not interfere unto whom the left properties will be transferred to.
Cohabitation Agreement Form Sample
Cohabitation Agreement Form is another Binding Financial Agreement Form which will lay down the rights and financial responsibility of the parties, or the couple. This agreement form will allow an unmarried couple to be treated similarly as a married couple in making joint transactions. The form is also referred to as a Living Together Agreement Form in some states and countries where not being married but to live together is accepted.
Tips for Filling out an Effective Cohabitation Agreement Form
Filling out any form is easy except during the need to have another person sign the form with you. So, here are the tips that you may consider before and during the day that you will be signing the Agreement Form:
- Negotiate with the other party, or your partner. This is a financial agreement which may affect the way you both live as a couple, therefore, be sure that you will attain a better understanding and communication with what your terms will be.
- Assign responsibility. In today’s generation, it is not only the male in the partnership who pays for the rent and all other heavy payments but also the female or the other involved party. To properly account each other with obligations, line up the necessary subjects such as monthly payments, fees, and food, then determine who will be responsible for each specified month.
- Avoid personal issues. This refers to who should cook, do household chores, and even watch TV during a specified hour. These issues are not accepted in court and will only invalidate the document.
- Mind the language. Contract Agreements are legally binding documents therefore assure that your agreement will only state acceptable and moral languages and terms since immoral and explicit language may cause a rejection from the court.
- Agree on disputes. Fights and misunderstandings are common especially in the case of couples. To avoid having to decide for a separation, the couple must indicate in their contract that they will be resolving issues and face the problems together as a couple and as partners.
Divorce Agreement Form Sample
Divorce Application and Agreement Forms are one of the most feared and critical documents under the Binding Financial Agreements category. This is due to the possible emotional instability of the couple who may end up either backing down from the divorce or merely missing court hearings because of disinterest. What couples should avoid when filing a divorce is having an inadequate knowledge about their financial capabilities and statuses. Couples should always know what their properties are and the boundaries of where they may make a decision for a particular joint account and property.
Separation Agreement Form Sample
The importance of divorce papers does not merely cover up the divorce process itself, but also the actual happenings after a divorce. One form which will be used after successfully filing a Divorce Form is the Separation Agreement Form. This form will state the desire and need of the couple to live separately or leave their marital home. Completing a Separation Agreement is similar to creating and filling out a Divorce Application as it will indicate and lay out all the arrangements agreed by the separating couple.
Steps in Writing a Separation Agreement
Writing Agreements and filling out Agreement Forms may need the help of an attorney or any person whose expertise is in the field of the law and the state’s rules. Nonetheless, here are the steps on how to write and complete this kind of Agreement Form:
Step 1: List and draft down all the issues which includes the debts to be equally divided, the assets to be distributed, the maintenance and child support, and the parenting hours or time.
Step 2: Search for a printable Separation Agreement Form online and edit the needed areas for your needs.
Step 3: Fill in the signature block with both of your names and signatures.
Step 4. Notarized and date the agreement.
Financial Agreements are documents to provide settlement of the involved parties. These forms are the basis for dealing with issues about a party’s financial decisions and the overall financing matters. Though it deals with two entities working together, legal professionals must be taken into account to assure that the conditions and statements in any agreement form will be valid and applicable for the state’s laws and regulations. The user must also know if there are notarization needed for legalizing the document or if filing the form will demand other essential paperwork for proof of the user’s claims. Lastly, users of such agreements should be able to supply facts and honest statements especially when it deals with separation and when it affects people other than the users of the form.
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