If you are going to develop a new business relationship, it could be a great idea to draft a letter of agreement in order to make sure that both parties who are entering the agreement are following the same page. For this purpose, you can use a letter of agreement template. Before continuing the discussion, let us introduce our users to the basic concept of this letter. It is a formal document used to settle down the terms and conditions of an agreement between two parties on their mutual consent. It can be legal depending upon the decision of the involved parties, but when it is, it becomes a contract.
By outlining the terms and conditions of your deed, a written agreement helps you secure your legal and individual rights and to determine your responsibilities. Once the deal is finalized, the agreement is signed by both parties as proof or as documentation that they agreed on the terms willingly. One has to use a letter of agreement if he or she is ready to enter into an agreement on their own will, and wants to define its terms and conditions. Moreover, one can use this letter to start negotiations, or if they want to use it on behalf of a more formal business deal.
Additionally, the letter should be including all necessary information about the nature of the deed to avoid future misinterpretations. To make it legally binding, it will require the signatures of both parties and sometimes the signatures of witnesses. It can also be used for employment purposes as a settlement between an employer and an employee. Download our free letter of agreement templates available below which can be used for every sort of commercial agreement you want to do. These letter of agreement templates are quite easy to customize and use. Take a brief look below.