Legal contracts or legal agreements are “binding documents” that essentially protect you in the event of disagreements with business partners, service providers or other contractual partners. While verbal agreements are sometimes relied upon, these do not offer you the same comfort;, and most businesses certainly prefer formal written contracts when engaging in operations with natural persons, service providers or representative entities.
Written business agreements provide individuals and businesses with a legal document stating the expectations of both parties in terms of the legal agreement, and further makes provision for recourse and dispute resolution. Legal agreements are also enforceable in a court of law, giving you the appropriate legal standing to exercise your rights if, for instance, there has been an infringement or breach by the other party. Business agreements are a contractual tool often used by companies to safeguard their resources, which include trademarks, assets, proprietary information, and so on.
Why Businesses Need a Legal Agreement?
Business agreements usually include a preceding negotiation process wherein various terms, to which each party must abide, are outlined. The process may take a while to conclude and the same agreement may include a process for making changes or including addendum’s to the contract. Contracts are also used to ensure that a certain level of service is maintained, as in the case of a Service Level Agreement. All these facts will be contained in the contract and, in the case of breach by any party, approaching the courts for enforcement of the contract once a copy of the contract is submitted to the courts.
Most business contracts are drafted by legal experts who are well-versed with the law. Legal advice is therefore necessary before entering into any binding contract. Business agreements will also contain legal terminology that many business owners fail to understand. Legal advisors or attorneys can provide clear information on the benefits of business contracts and explain specific contractual terms clearly.
Benefits of Online Agreements
Online agreements drafted by professionals are also available for sale. These are readily prepared agreements tailor-made for specific types of businesses, including online agreements for SMMEs and individuals. With a reputable legal specialist like SITL Legal, you can rest assured that online agreements are compiled by legal practitioners who are experts in their area of expertise. Shamrita Singh, CEO of SITL, has 15 years commercial and corporate legal expertise to her credit, and works with a wide range of respected businesses in various industries.
The agreements come with all standardised and specialised terms and conditions for any business owner in any field. Online contracts are very affordably-priced, compared to consulting directly with an attorney to draft the contract for you, which will incur both consultation and drafting fees. With online contracts, you simply purchase the ready-made contract relevant to your business and industry, or related to the transaction with which you are involved. Online agreements also help business owners save time and are a great way of getting starting with your SMME or individual venture.
Contact SITL Legal today to browse available precedents and legal agreements.