How to Make a Private Agreement?

private agreement template

The purpose of this type of agreement is to legally bind two or more parties, them being non-governmental entities, into fulfilling whatever obligations they promised to one another. These are made in common negotiations such as that involving vehicle maintenance, acquiring a loan, or the custody of a child. Make sure that if you prepare this type of exclusive agreement, you don't forget to include any important details and that both parties benefit from the exchange.

1. Provide Information on the Private Parties Involved

This is to ensure that the reader is easily able to identify whoever is involved in the sample agreement. So what you will need to do is to write down the complete names of all individuals. If this type of agreement is being made by private organizations, then their complete names along with that of their representatives must be included. It's also best to include addresses or job position titles if deemed necessary.

2. Explain the Offer

One party will always provide an offer that the other party can either decline or accept. This will depend entirely on the type of private agreement that will be made. For example, a maintenance agreement between two individuals will point out exactly what type of maintenance will be done, when the service will take place, and even what materials and equipment will be used. Just make sure to provide as much detail as possible when writing down the offer.

3. Point Out What Will be Given in Exchange

After writing down what one party is offering, you must then share what the receiving party has to give in return. This can come in any form from money to goods and/or services. If it's going to come in the form of monetary payment, then specify the amount, whether it will be done in bulk or over a series of payments, payment method, and the payment date/dates. If compensation is via goods and/or services, then be sure to provide their full legal descriptions and other details such as their quantity along with when and how they will be provided.

4. Explain Any Terms and Conditions

Whatever terms or conditions that must be included in the agreement should be written thoroughly. This is to ensure that both parties can easily understand and adhere to whatever it is that they will be legally bound to follow. These terms and conditions can come in the form of non-compete agreements, non-disclosure agreements, non-solicitation agreements, etc.

5. Provide a Termination Clause

This should explain how either party may legally exit the simple agreement. This will also set the terms regarding what constitutes the breach of an agreement and what the consequences are for the responsible party. Provide a thorough explanation of the termination process should either party involved wishes to end the agreement early.

6. Make the Spaces for Signatures

Lastly, create spaces at the bottom of the document where the parties may place their complete names and signatures should they decide to enter the simple agreement. Make sure to also include a space where one can place the exact date in which the agreement was signed.

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