A management contract format is a document which gives the outline about how a management contract is created and drafted. The contract states and outlines the terms and conditions of the legal document and the function that are to be performed by the parties and the fee that is to be paid.
Sample Management Contract Format
Date of Registration:
This paragraph contains the names of the respective parties and their respective official/business/residential addresses. The purpose of mentioning this is that each of the party knows where to contact the other in case of emergency or similar situations.
Terms and Conditions:
- Here the clause about duration of the contract will be defined wherein the period for which the contract is signed shall be agreed upon.
- The second clause can state and mention the amount agreed to be paid to the management company in exchange of the managerial assistance they have agreed to provide for the particular period of time.
- The next clause here may state the terms or situations in which the contract can be terminated and also state the provisions as to what shall be done to get the termination process through.
- Here either of the parties is given rights to take decisions and action against each other if they find out the other one is involved in some misdoings or misuse towards it.
- A clause can also be added which may lay down the terms of the levels of ethics, honesty and truthfulness of the parties towards each other.
Here, the statement announces that the above document has the approval of both the concerned parties