![]() The need to use formal signed trading agreements is markedly greater when you are managing supply on behalf of a company or employer. ![]() How to make sense of what might or might not have been agreed between the two parties. While the tradition and spirit of shaking hands on a verbal deal between two friends in business is helpful in underpinning a good trading relationship, it is sensible for significant supply arrangements to documented and agreed, usually by signatures.Īside from the process of clearly agreeing and understanding the expectations between supplier and client, contracts or agreements also help if one or both of the original deal-makers one day move on, which can then give other people the problem of Without clearly defined and agreed contracts, misunderstandings can develop, expectations of client and provider (customer and supplier)įail to match, and all sorts of problems can occur. Adapt the level of detail and formality according to your situation.Ĭontracts and services agreements are essential business tools for professional trading and business relationships. These service contracts guidelines are appropriate for large organisations and will be too detailed and formal for many self-employed, freelance suppliers and small businesses.
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