Drafting of Agreements & Contracts



Drafting of Agreements & Contracts

Drafting of contracts and agreements is important for anyone wanting to enter into a new contract with another party. There are several tips that one should follow when drafting the initial contract. Some of the tips you should follow when drafting a contract or agreement include the following:

        • Prepare an outline
        • Be clear and concise
        • Be consistent
        • Include recitals
        • Define terms

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Shareholders Agreement:

A shareholders’ agreement is, as you might expect, an agreement between the shareholders of a company. It can be between all or, in some cases, only some of the shareholders (like, for instance, the holders of a particular class of share). Its purpose is to protect the shareholders’ investment in the company, to establish a fair relationship between the shareholders and govern how the company is run.
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Service Level Agreement:

A service-level agreement (SLA) is a contract that establishes a set of deliverables that one party has agreed to provide another. This agreement can exist between a business and its customers, or one department that delivers a recurring service to another department within that business. The most common component of an SLA is that the services should be provided to the customer as agreed upon in the contract.
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Leave & License Agreement:

A leave and license agreement is an agreement wherein the licensor temporarily allows the licensee to use and occupy licensor's immovable property full or a portion of it, for the purpose of carrying business activity or residential use. For this, the licensor shall be paid by the licensee a fixed amount also known as the rent. The leave and license are usually granted to the licensee for a period of 11 months. The agreement must be registered before the sub-registrar at the place of jurisdiction (the place where the immovable property is located).
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Partnership Deed:

Partnership deed is an agreement between the partners of a firm that outlines the terms and conditions of partnership among the partners. The partnership deed serves this purpose. It specifies the various terms such as profit/loss sharing, salary, interest on capital, drawings, admission of a new partner, etc.



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Memorandum of Understanding (MOU):

A Memorandum of Understanding or MOU Agreement is entered into when parties have agreed to enter into a contract, but the formalities (such as terms and conditions) of the contract are yet to be negotiated. It is made when two or more parties outlining the rights and obligations of the parties to the agreement are into initial discussions. It is used to gauge the intention of the transacting parties before a deal is officially signed between them and doesn't grant either of them any rights. MOU’s can be kept confidential by the parties, if desired.It does not constitute a legally enforceable obligation but, this non-legally binding MOU may be useful to serve as an agreement between two or more departments within a single public entity.
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Sale Deed:

A sale deed, also known as the final deed or conveyance deed, is an instrument in writing which legally transfers the ownership rights of a property from one person to another in exchange of a price paid/consideration. It is made for the sale or purchase of land or any construction made on it. The person who is transferring the property is known as the transferor or seller while the person paying an amount to get the property is called the transferee or buyer. The document lays down the details of the parties, the final deal price of the property, the accepted mode of payment and the time for handing over the possession of the property along with the original documents. It also acts as a proof that the buyer is the outright owner of the said property.
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Gift Deed:

A gift deed is a document that records the act of giving a gift and is executed between the donor (the person giving the gift) and the donee (person receiving the gift). Though it is not compulsory to execute a gift deed while gifting any asset, it does create a valid documentary record. A gift can be movable or immovable property that is transferable and tangible.
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Will:

A will is a legal document that expresses a person's wishes as to how their property is to be distributed after their death and as to which person is to manage the property until its final distribution.




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General Power of Attorney:

A General Power of Attorney (GPoA) is a legal document authorising one person (called an agent) to act on behalf of another (the principal). You would use a PoA when you are unable to make decisions yourself. This could be for health reasons or because you cannot, but need to, be physically present to make them.



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Non-Disclosure Agreement:

A Non-Disclosure Agreement (NDA) is a written contract in which two parties, the Disclosing Party and the Receiving Party, agree not to disclose certain proprietary or confidential information explicitly outlined in the agreement. The Disclosing and Receiving Parties can be individuals, companies, or entities.

By agreeing that such information is sensitive, technical, or valuable for commercial or other purposes, both parties can safely explore starting a business relationship without fear of having sensitive information leak.