Preparing a Successful Contract

"Handshake agreements" were the way many business relationships were historically cemented. While some companies still operate through an arcane combination of purchase orders, emails and other communications, the increase of critical events such as inspections, recalls and class actions make the uncertainty of this archaic system problematic. A well-written and detailed manufacturing, distribution or supply agreement can alleviate some of the uncertainties and clarify the respective obligations of the parties. Following are nine considerations to keep in mind when negotiating an agreement with business partners.

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