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Get it in writing. Keep it simple. Deal with the right person. Identify each party correctly. Spell out all the details. Specify payment obligations. Agree on circumstances that terminate the contract.
Get it in writing. Keep it simple. Deal with the right person. Identify each party correctly. Spell out all the details. Specify payment obligations. Agree on circumstances that terminate the contract. Agree on a way to resolve disputes.
A contract is a promise or set of promises that the law will enforce. Such promises must be between different people; you can't contract with yourself. So long as the requirements are met by each of the parties they will be legally bound by their promises.
There is a legal requirement for invoices to set out the business name and address as a minimum, says Tall. There is no legal requirement to include terms and conditions on invoices though many people put their terms on the back of them.
For a written agreement to be legally binding, it must contain an acceptance of the terms in the document. The most common way to accept is through a signature. If all the parties involved sign your written agreement, there is a clear acceptance of the terms.
Creditor's Name and Address; Debtor's Name and Address; Acknowledgment of the Balance Owed; Amount Owed; Interest Rate (if any); Repayment Period; Payment Instructions; Late Payment (if any); and.
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