8 tips for creating your next business contract

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Please note: Information contained in this blog is not intended to be interpreted as legal advice. The following information is intended as general information only. Contract law is complex, and you are strongly advised to seek proper legal advice before creating any legal contract.

Many modern businesses enter into a variety of contracts with clients, business associates, and other parties. It is easy to create your own business contract using customisable contract templates sourced online.

Please be aware, however, that creation of any legal contract can be very complex. Creating a legally binding contract in some jurisdictions may also come with some practical and legal caveats.

A typical business contract may relate to services provided by parties, payment obligations, terms of service, and contain multiple caveats. Most contract templates are suitable for simple contracts, but may or may not be adequate for more demanding types of highly technical contract.

Sourcing your business contract templates

It’s helpful to use templates as a starting point for your business contracts to make sure you’re covering all the necessary points of information.  Docsketch provides a selection of different contract templates and agreements. For example, you’ll find a range of contract types, including independent contractor agreements, consulting agreements, NDA templates and more.

Take a little extra time to browse available contract templates, and you’ll soon realise how useful they can be for your business; not to mention the time saving.

Our tips for creating your next business contract

We have a few useful tips for making creating your business contracts easy:

    1. Look for a template which is directly related to your business. Your business knowledge will instantly recognise a properly drawn up valid contract, and reading the template example will be very easy.
    2. Compere the template to an existing business contract. Does the contract template provide adequate space for your needs? Is there anything missing, or contract terms which need to be added? Most contract templates are very flexible, and adding extra terms is quite easy.

 

  • Show the template to your legal adviser before entering into your first standard contract. This is a necessary precaution, to ensure that your contract template is suitable for your business contracting needs. (Your lawyer will also be able to advise you if you require additional legally binding content in a contract.)
  • Non-standard contracts can be very different, and tricky. Your contract template will be able to do most of the contract, but you may need to create customised contracts in these cases. You should be able to add the necessary extra clauses to your contract using your template. (There is no One Size Fits all in complex business contracts. Omitting contract terms can be an own goal.)

 

Checklist

When you’ve drawn up your contract, please check:

  1. There are no typos or errors in the contract text.
  2. Your contract contains all necessary clauses and contract terms as agreed with your legal adviser.
  3. Any additional contract terms have been properly included.
  4. The contract has facilities for electronic signature. (This is common commercial practice. Hardcopy contracts are effectively obsolete.)

Congratulations! Your new contract is ready to go!

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