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A contract is a legal agreement your business makes with another for the exchange of items or performance of services. When the other party to that agreement is not sticking to it, you and your business may suffer severe losses. A contract breach occurs when one party...
Whether your business loans money to individuals seeking to start a business or you financed the sale of a previous commercial venture, a loan default could harm your financial bottom line. According to The Balance, a default occurs when a borrower fails to meet the...
If you sell retail goods or services, especially higher-priced items, you may want to consider offering payment plans for customers. If you do, you must have the customer sign a retail installment sales agreement. This agreement outlines the terms of the contract so...
If you run a small business, many different challenges could arise, whether you run into problems with respect to staffing, financing or taxes. In addition, you could find your firm in the middle of a contract dispute, and the outcome of this dispute could have a...
Contract disputes can cost your company a lot of money and may even impact its reputation. You may also expend valuable resources finding a solution and unintentionally disrupt your workflow along the way. Protecting your company against such disputes begins during...
Successfully negotiating a business contract requires you to have a strategy. However, even with the most refined strategies, you may still need to compromise on the things you want. When you know how to negotiate you may have better chances of developing an agreement...
When you work as a business owner, you will likely deal with confidential information at some point. Whether this information includes secretive plans for future collaborations and merges or blueprints for a new product, you want to keep this information as secretive...
When you deal with a failure of a contracted party to deliver on their end of the contract, it can result in a loss of standing with your clients or customers, and a loss of revenue. You can often choose to pursue financial compensation as an option in these cases....
Even with a clear payment contract in place, sometimes your customers will procrastinate payment. While they may not view this as a big deal, their ignorance can take a toll on your organization. Encouraging your customers to pay in a timely manner may look different...
Contract disputes can strain even the strongest business relationships. Given the importance of developing and maintaining trust with other professionals, learning to write a good contract can help you prevent conflict. Negotiation is one component of contract...
