Business Contracts

Written by Kathleen Gagne
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Business contracts are essential during the start-up period. The business world can be a difficult environment, especially for newcomers! That's one reason why it is so important for business owners and/or managers to have at least a basic understanding of the concept of business contracts. Business contracts can be a business owner's best defense against potentially costly disputes.

Business Contracts for Clients or Vendors

Many businesses, especially small or new businesses, use standard contracts for all relationships, making the contracts specific by entering detailed information in blank spaces. This can work very well in general, but, if the scope of services or goods provided by the business evolves, there may come a time when different levels of contracts are a necessity. Contracts should always be clearly written, and they should cover all of the contingencies that might result in a dispute.

For example, stated product warranties should be accompanied by a disclaimer stating that there is no warranty beyond the stated warranty. If you offer no warranty on products or services, your contract must clearly state that fact or you may be held liable later. Your client contracts should also address the issue of financing: under what terms you will consider it, what the interest rate will be, and what the payment terms are.

Find Business Contracts Online

Whether your attorney writes a general client business contract for you or you decide to purchase one online, it will be the quality and detail of the contract that protects your interests if a dispute arises. Online contracts can save you money, but be sure to have your attorney check out any that you are considering. Before you sign on any dotted line, you should also know in which court disputes would be heard should they arise. Your attorney is the best source for that information.

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