An Agreement is a legal document that includes the responsibilities and obligations of two or more parties involved in a personal or business deal. It is better to get the responsibilities and duties in writing and ask the parties to sign the agreement rather than just trusting their words in the deal. You can either draft your own agreement by understanding the needs and requirements of this document or hire some legal help i.e. lawyer or attorney to prepare this agreement for you.
Brief Description of a General Agreement:
Suppose you seal a deal with a company and the deal is that the company will provide you with raw material for your production unit. The company agrees that it will provide you the material within 1 week of your request or notice and you agree that you will pay for the material 1 week after receiving it. If both you and the company just trust each other with the words, it’s good but you should understand that when there is a dispute or problem, you can’t use the words as legal evidence. This is where the general agreement comes handy.
With this agreement, you can resolve the disputes and each party can use it to get the things done exactly as they are supposed to. You can also use the agreement signed by the other party as evidence in case of breach of the agreement or the terms and conditions of the contract. Another huge benefit of this agreement is that once each party signs it, they are legally forced and obligated to follow the rules and clauses added in the agreement.
Here is preview of a Free Sample General Agreement Template created using MS Word,
Useful Tips for creating a General Agreement:
- Get the Agreement in Writing:
You can understand that you can’t hold a personal responsible only for his words and the things he promised you orally. This is why it is really important that when you want things done in your way, you get the written agreement in which you explain each and every expectation, responsibility and obligation of each part.
- Keep the agreement concise, short and simple:
You don’t need to make the agreement too long or lengthy just to make it legal. When it comes to agreements, a single sentence is enough to hold the signer responsible for his actions.
- Mention each party involved in the Agreement clearly:
Usually there are only two parties involved in an agreement; assigner and assignee but even if there is a guarantor and witnesses involved in the deal, you need to mention each and every person with their full names and addresses.
- Explain the details and purposes of the Agreement:
Here you need to mention and explain the actual purpose of writing and signing this agreement. Enlist the responsibilities and obligations of each party.
- Always make sure to specify payments and other compensations:
Most of the time when there is an agreement, money is also involved in some manner. This is why you need to mention and explain how each party will compensate the other one and what will be the manner of payments i.e. check, cash etc.