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Collateral warranty agreement template – If you’re a creative individual who wants to convert your”creative juices” into an earning mechanism then you need to educate yourself by understanding the ins and outs of having a business contract. These days, having verbal arrangements when engaging into company clients is no longer working as it most often results to disagreements and torn relationships. Why do you require a contract in the first place? A written contract can protect you in various ways. For starters, a written contract can help define the scope of work that includes your deliverables in addition to the project timeline.
Secondly, a contract outlines every detail associated with money. Payment disputes are a common issue that creatives often face. Aside from detailing how much you should get for your services, the contract should answer a few key questions, including: if you are likely to receive upfront payment; when you will receive payments; what happens when the project falls through, and if there will be late fees and reimbursements for expenses.
A written contract will also determine who gets the ownership of the deliverables. For some kinds of work, the possession is clear cut. However, for some works like logos or written articles, the client and the service provider should come into an agreement as to who finally owns the work. As the service provider, you can choose between two options: assign or give ownership to the customer, or grant a license to the customer as you retain ownership of the final product.
Contracts can also serve as a clear guide for the two parties when it comes to effecting changes to your project. Sometimes, customers will request changes to the initially agreed upon concept and it is crucial for contractors to spell out the conditions of what counts as extra work and additional fees for your customer. Drafting a contract could be confusing – intimidating, even – for a good deal of people. If you don’t have the time or money to attend a lawyer for contract drafting tips, your next best alternative is to use a business contract template. Employing a business agreement template, you can simply add the relevant details associated with your project. The main thing is that you have an invaluable tool which clearly provides the essentials of your agreement with a customer. Take a look the sample of collateral warranty agreement template at the attachment page.