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How to prepare contracts

13:How to prepare contracts

The way of preparing contracts is basically the same.

The way of preparing contracts is basically the same.
Set contract title first and then make premises, whereas clause, operative provisions and end of operative provisions.
At the time, you need to write the date, and sign or stamp.
If you know this knowledge, you can use it to make contracts.

How to write contract title, premises and whereas clause

When making a contract, you need to set its title first.
For example, if you make a contract regarding a loan, it is a "loan agreement" and if it is a contract regarding a real estate rental, its title is a "lease contract".
And set the premises which stipulates the names of the parties and the effective date.
The purpose and the details of the contract are written in whereas clause.

How to write operative provisions and end of operative provisions

After making the contract title, the premises and the whereas clause, you make the operative provisions.
The operative provisions consist of principal provisions and general provisions.
Principal provisions are based on the contents of the contract.
If the contract is the loan agreement, its contents need to have the contents: "X lent Y the money", "Y shall repay the money to X on the date" and others.
General provisions are, regardless of the sort of the contract, the provisions to be stipulated generally.

After making the operative provisions, you write the end of operative provisions.
The end of operative provisions is the sentence concluding the contract.
For example, the sentence "IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.".

Date and signatures of both parties

After writing the operative provisions and the end of operative provisions, the date needs to be stipulated, and the parties need to sign.
If there are no signatures by the parties, the contract is invalid.
Moreover, if there is a difference between the contract date and the effective date, you need to stipulate each date.

Making the correct contract can lead to keeping the good relationship with your clients.
"Ofigo Contract Management" can safely manage your important contracts.
Use Ofigo to achieve ideal contract management.

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