OTHER GENERAL OR COMMERCIAL AGREEMEMT OR CONTRACT AS PER COMPANY NEED
Business contracts are a part of every company’s life, whether they choose to deal with them personally or through a specialized company.
There are plenty of different types of business contracts out there that work in varying ways. Some are simple while others are complicated, some revolve around people, other around things. How can you identify the different types so you know what you’re dealing with? Here are 5 examples of the common types of business contracts you should know about.
One of the most common type of business contract, that any business should be familiar with, is a Bill of Sale contract.
1- A Bill of Sale contract is an agreement between two entities that states who owns a piece of personal property, as well as what the property is, when it was sold, how much it cost, and who it was sold by.
2- If you are going to hire employees for your company (which, let’s hope you are) you will need to have an Employment Agreement.
This type of contract legally sets out the terms and conditions of a person’s employment. This can include how much they will be paid, how many hours they’re expected to work per week, what kind of bonuses they can earn, and reasons for which they can be terminated.
3- If you have a product to sell, which seems like a fairly smart thing to do if you’re in business, then you will need a Licensing Contract. A Licensing Contract is an agreement that allows you to earn money from your invention or creation by allowing someone else to use it.
4- When collaborating with others you should also make sure that you are legally covered by a Nondisclosure Agreement, which can be used for vendors, clients, or potential employees.
5- The last – but not least important – amongst the business contracts we’ll talk about today is the Promissory note. This is a legal type of IOU. It can be used if someone wants to borrow money from your company.
Easydrafting.in role in providing any other commercial agreement or contract as per company need:
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