This week the Office of the Small Business Commissioner (OSBC) published a Guide to Creating a Contract to help small businesses write and negotiate clear and simple contracts. This is a free resource aimed to help smooth working relationships, and improves payment processes in particular.
Many of the payment disputes the OSBC receives are because suppliers and customers can’t recall what was agreed. A written contract is an essential business tool, but it must be completely comprehensible to, and agreed by, everyone to be effective. That process builds trust, gives everyone a document to refer to, and helps avoid costly, time-consuming disagreements.
The OSBC can’t provide a template contract to accompany it for legal reasons but they have collaborated with the World Commerce and Contracting Association on the Guide and there are examples on their website of the benefits of keeping contracts simple and clear.”
What are the benefits of having a written contract? Check out the Office of the Small Business Commissioner’s Guide to Creating a Contract to find out how you can stay protected when making business agreements.