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How To Write A Contract (Infographic)

February 14th, 2014 by in General with 196 Views

This helpful info graphic created by Ayers Contractor Management Services is a guide to drawing up and writing contracts. Most of us in our lives will have to sign some form of a contact, whether it be a contract of employment or a lease on a property. It is important to know what you are signing or if you are the one writing the contract it is equally important to know what needs to be included in a contract. When drafting a contract there are several required fields that must be completed for a contract to be legally binding.

For example, something simple like not including the date could make a contract void. The first section this info graphic focuses on are the steps of signing a contract. The first thing you need to do and possibly the most obvious, but at times most overlooked it to ensure an offer has actually been made. Once this is confirmed you can proceed with the rest of the process. The next area this useful guide covers are terms and information that must be included in all contracts for them to be legally binding such as the names of all parties involved, penalties for failure to meet terms and conditions of the contract, clear definitions of the terms and the signatures of all parties involved.

The next section looks at pitfalls to avoid, with the Top 5 most common mistakes people make, one being failure to negotiate. If you are signing a contract you have the power to argue terms and get your own terms across too, never sign anything unless you are completely happy with all the terms and conditions. If you don’t ask you won’t get! The final section of this guide is a glossary of common terms used in contracts that are often misunderstood. Read on to ensure you are fulfilling the process of signing a contract correctly. Provided by http://www.ayers.com.au/

Final Ayers-Infographic