Business contracts will never be invisible, they are like the frameworks in the business industry for they play the vital role in business relationships, especially with business partnerships (partnership contract templates). In regards to property management operations, property management contract is required because it safeguards how the properties in the business are managed.
Business does not only focus on the partnerships and operations. Meetings, ceremonies, trade shows, parties, and team building activities in the company give attention too, thus requiring an event planning contract to ensure the procurement of the events.
Business Associate Contract
Business Contract Terminologies and Glossary
When you engage yourself in the business industry, it is always a must to be able to educate yourself with the business jargon. The business legal terms and definitions should be given focus for it is one of the ways on how would you be able to understand and run your business well.
- Breach of Contract – is the term used when one party did not adhere to the agreement. Breach of contract voids the effectiveness of the business agreement thus requiring compensations from the damages caused by the party who breached, especially with sales contracts.
- Conditions – is the basic component of business contracts; these are the things both parties must adhere and if broken, would result to breach.
- Consumer – refers to the persons who buy goods and services.
- Confidentiality Agreement– an arrangement created to safeguard confidential information.
- Due Diligence – the act of investigating the business background to ensure no hidden agendas will affect the deal.
- Employment Contract – an arrangement between the employee and employer.
- Liability – is considered obligation in business.
- Offer – lays out benefits a party can get and should have the ability to be accepted.
- Service Contract – an agreement of both parties to adhere to the service conditions offered by the other party.
Types of Business Contracts
If you’re one of the persons who run a business, then it must be very important that you must know various types of business contracts that you may come across along your business journey. And if in the event that it’s your time to create one, take our free contract templates for your convenience.
- Non-Disclosure – an agreement that states that the parties involved should practice confidentiality in all things. This protects confidential information from getting out.
- Partnership – an agreement stating that two parties agree to share their contributions and obligations in the business as part of being business partners.
- service provider
- employee shares
- confidential information
- Purchase Order – a document that states the commitment of the buyer to purchase the agreed prices of the items ordered at a specific time and date.
- Security Agreement – an agreement in which one party swears an asset to be a collateral for loan assurance.
- Lease Agreement – contains the terms and conditions of properties being leased.
- Bill of Sale – a legal document that proves a person has transferred the title of his property to another person.
- Employment Contract – contains an employee’s relationship with the employer, compensations, benefits, policies to adhere, and the grounds for termination.