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Restraint of trade agreement template – If you’re a creative individual who wishes to convert your”creative juices” into an earning mechanism then you should educate yourself by understanding the intricacies of having a business contract. Nowadays, 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 need 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 as well as the project timeline.
Secondly, a contract outlines every detail related to money. Payment disputes are a common issue that creatives often confront. Aside from detailing how much you should get for your services, the contract should answer a few key questions, including: whether you are likely to get upfront payment; once you will receive payments; what happens when the project falls through, and whether there will be late fees and reimbursements for expenses.
A written contract will also decide who gets the ownership of the deliverables. For some types of work, the possession is clear cut. However, for some works like logos or written posts, the customer and the service provider should come into an agreement as to who finally owns the job. As the service provider, you can choose between two options: assign or give ownership to the customer, or grant a permit to the client while you retain ownership of the final product.
Contracts may also function as a clear guide for both parties when it comes to effecting changes to a job. From time to time, customers will request changes to the initially agreed upon concept and it’s crucial for builders to spell out the terms of what counts as extra work and additional fees for the customer. Drafting a contract can be confusing – intimidating, even – for a good deal of people. If you do not have time or money to go to a lawyer for contract drafting tips, your next best option is to use a business contract template. Employing a business agreement template, you can just add the relevant details associated with your project. The important thing is that you have an invaluable tool that clearly provides the essentials of your arrangement with a client. Take a look the sample of restraint of trade agreement template at the attachment page.