What is a contract?
A contract is a voluntary or deliberate agreement made between two or more eligible parties for a specific activity or purpose. It is legally binding agreement and is mostly enforced by the power of law. A contract is mostly in a written or printed form and must be endorsed by all the parties concerned.
The purpose of the contract proves the following relations:
- An offer has been made by a party
- An acceptance has been carried out in response to the offer
- Validity and terms and conditions of the agreement are mentioned in the contract.
A contract may not necessarily be enforceable by law. In some cases, the terms and conditions or validity might make the contract void for enforcement. There are various types of contracts used in business deals and activities. One such contract is the service contract template.
What is a service contract?
A service contract is an agreement carried out with any party willing to deliver some services to the issuing party. These services may be medical, architecture, plumbing, designing or any other form. The service contract will outline all the details of the service that needs to be provided along with the terms and conditions applicable to both the concerned parties. The written form of this contract makes it easy to safeguard the interest of concerned parties. In the case of a breach of contract or inability to fulfill the requirement, the contract can be used as a base for legal proceedings.
Format: MS Word