What is a Contract?
Contracts are legally binding agreements and they will tell almost every detail of a business. If you own or manage a business, you maintain with the contract all the time in your dealings with contractors, vendors, commercial landlords, banks, employees, customers, and client.
Why contract is important?
A written contract plays an important role in any business transaction. Apart from making the agreement between concerned parties legally binding, contracts can also serve as future references, part of the business’ policies, as well serve as proof in the event of misunderstandings, complaints or disputes needing litigation proceedings.
Purposes of a contract?