A contract is an agreement between two or more parties to do, not do, or promise something, which safe guards both, the client and the company. A proposal spells out the details of what is to be done, deadlines, expenses, payment dates etc. Signed contracts are legally binding documents. By detailing all the information, there cannot be any controversy later about who said what and when. Maintaining a clear agreement is always a good idea. So be sure before signing any agreement and always take legal advice before putting your signature on a business agreement.

The following are the key areas to look out for:

The Proposal

The understanding of the client’s requirements, your ability to satisfy that brief, and the action that you are going to take in order to deliver that requirement.


Agreed start data, delivery data and progress during the project where action needs to be taken.

The contract must contain some basic information like your company’s name, title, address, contact details, client company name and their respective details. It is advisable to appoint appropriate legal professionals for drafting the agreement not only to ensure that the entire understanding of the parties are recorded in the executed documents but also to ensure that all legal and regulatory requirements are duly complied with.

How to make an Invoice

A bill is a document issued by a seller to the buyer, indicating the products, qualities and agreed prices for products or services that the seller has provided the buyer. Whether your business is big or small, cash is one of the most important assets. Hence, it is highly imperative in every business to keep track of its finances – cash coming in and cash going out. There should also be enough cash-on-hand to take care of any expected and unexpected movement of cash into or out of any business. This is where an effective online invoicing system comes in.

The business’s ability to convert invoices to cash faster and at a higher rate is becoming a competitive advantage. More efficiency in collections equates to more predictable cash flows. Only reliable cash flows allow businesses to acquire new clients, build profitable partnerships, and develop new products and processes for better, stronger and superior financial outcomes.

With the advent of a more advanced internet technology nowadays, online invoicing system has become a trend and a necessity for businesses if you want to have a edge over other competitors in your field.

Develop a basic template that you can quickly use to draw up the total bill and remember to use your logo to promote your business and product.

A typical invoice contains a unique reference number, date of the invoice, VAT, name and contact details of the seller, company registration details, name and contact details of the buyer, date that the product was sent, payment terms, description of price and total amount.

Entrepreneurial Learning

A contract is an agreement between two or more parties to do, not do, or promise something, which safe guards both, the client and the company. A proposal spells out the details of what is to be done, deadlines, expenses, payment dates etc. Signed contracts are legally binding documents. By detailing all the information, there cannot be any controversy later about who said what and when.

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