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Business Contract basics

In the course of running a business, there are going to be times when you need to have a contract in place to document any agreements that you make. A Business Contract lays out the specific terms for agreements such as when a project will be completed, what products must be delivered, or when payment for products or services are due.

Situations in which you will likely need a contract include:

  • Your business plans to buy or sell physical products from another business.
  • Your business will provide a service or receive a service from another business.
  • You are an individual or independent contractor who wants to make a formal business agreement.

How do you write a contract agreement?

Rocket Lawyer offers a free business contract template. It can be made, shared, and signed online in just a few minutes.

The two kinds of contracts that can be created with this template are:

  • Contract for the sale of products or goods
  • Contract for services

A Business Contract can be drafted by the buyer or seller of a product or service. For a product, you can include important details like the date of the order, acceptance and delivery requirements, quantities ordered, warranties, and payment details.

If you're offering or receiving a service, you can use the Business Contract to specify dates of performance, the scope of work, and payment terms.

What is a contract template?

A contract template is a customizable document that provides the basic framework for you to make a legally binding document. It allows you to input your specific terms and other relevant information to generate a written contract for your business.

What are the 3 types of contracts?

The three most common types of contracts that come up in the course of running a business include:

  • General business contracts
  • Sales-related agreements
  • Employment contracts

That said, contracts can be made for hundreds of purposes. Check out Rocket Lawyer's library of legal documents and forms to see the range of options available.

How do I write a contract for services?

The template included on this page contains an option to make a contract for services. If you need further guidance on making business contracts, a Rocket Lawyer On Call® attorney can provide advice specific to your situation.

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Sample Business Contract

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