A contract agreement is a document which is framed or drafted in the case when two or more than two parties agree upon something and wish to jot it down to make it legally enforceable. These agreements signify the fact that the involved parties have agreed upon certain conditions and have decided to carry on a trade, business operation, sale, lease or any other related operation amongst themselves. These contract agreements are quite widely used and commonly found documents. But there is a set method how a contract agreement must be framed. Given below are a few points which shall explain in detail how one must write or draft a contract agreement.
- The first thing to keep in mind is that the tone of the agreement must be extremely formal and the use of legal terms is quite important.
- At the beginning, the commencement date of contract, effective period of contract and termination date of the contract must be clearly indicated.
- The contract agreement must indicate so as to which party holds what title or position in the agreement. The details of the parties including their respective addresses, names, contact numbers, email addresses etc must also be written down in the contract.
- Any contract agreement is incomplete without the detailed mentioning of the reason why the contract agreement has been made.
- The contract agreement must have the details of the monetary points which the parties will abide by during the length of the contract.
- The most important part of any contract agreement is the part where the terms and conditions of the contract are mentioned. These terms and conditions must stress upon the promises and covenants made by one party with another.
- The contract agreement must be sealed by giving the signatures of the involved parties.