Agreement Forms are essential written documents that are used for business transactions or when sealing deals with other people. Having a written agreement formalizes the arrangements or the understanding that has been discussed between both parties and helps to protect the interests of each one.
You can download our generic sample Agreement Form templates to help you save on time and money. Our wide array of Agreement Forms are designed to fit your personal needs and come in .doc and .pdf formats for your convenience.
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General Agreement Form Format
Why Written Agreements Are Important
Lays Down the Terms of Agreement
A written agreement is crucial in any form of transaction. Agreements provide facts that revolve around the negotiations made between two or more parties. The negotiation process may take days, weeks, or even months to be finalized; however, when all parties have reached an understanding, the terms, conditions, and obligations of each party is then specified in the agreement contract to ensure that each party is aware of what they are agreeing to and to lessen the chances of misunderstandings.
Ensures Fixed Pricing
A written agreement is legally binding and protects the interests of the parties involved in the agreement. Another major purpose for having a written agreement is that it helps to retain the price that was initially declared at the time of the agreement, allowing sellers to retain their selling price regardless of the cost of resources going down and for consumers to retain their agreed purchase price even if the cost of resources goes up.
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Protects the Confidentiality of Information
Most business owners or companies typically include a Non-Disclosure clause (NDA) or a Confidentiality clause in a contract. Others whip up a totally different contract that outlines the terms and conditions to help maintain the confidentiality of certain details revolving around their business. A Non-Disclosure clause is provided to ensure that sensitive information or trade secrets are not leaked by employees or people whom the company transacts with to third parties or outsiders.
A Non-Compete clause is a specific portion of an agreement or a totally different form of contract that helps to ensure that a business or a company is not being sabotaged by an employee, an individual, or another company who worked in close proximity with them by working with the competition or setting up a different company under the same line of business.
Non-compete agreements usually last for a year or two, depending on the gravity of exposure. Employees are typically prohibited from working with a competing company for a period of at least two years, while CEOs are prohibited from working with a competitor for at least 5 years.
Written agreements are very much important, especially when conducting business with others. You would be surprised at the number of businesses that have been compromised because of written agreements that are not foolproof. Be sure to seek legal counsel before signing any type of contract and make sure that you download pre-made agreement forms from reliable sources. You can use or download our Basic Agreement Form samples to make sure that your written agreements cover the essentials.
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