When you run a business, you will be faced with some agreements. The agreement is made based on the understanding of both parties. In addition to clarifying transactions in business agreements can also be legal protection if a dispute occurs. One of the deals you need to know is the resolution agreement.
What Is Resolution Agreement?
This contract is usually made to settle payments between individuals or corporate partners in completing their responsibilities. A business partner signs this agreement, and each agrees to carry out the obligations listed therein. The term of this agreement can be as long as three years.
Why Do We Need To Make This Agreement?
This agreement is made to resolve the dispute. Even though you don’t expect that there will be a dispute with your business, you still need to make it. By having a resolution agreement, the difference can be resolved legally, which does not burden either party. So, with this agreement, the difference can be addressed properly and appropriately, which will undoubtedly affect the good relations of both parties. Your business continuity will be maintained with the approval of this dispute.
When Should We Make Dispute Resolution Agreement?
The right time to make this agreement is when you start working with your business partners. Arranging everything at the beginning will make it easier for you to run your business. Also, agreeing is a form of seriousness in running a business.
What Are The Benefits Of Making Agreements?
Agreements made in writing and signed by both parties will have legal force. Besides, written contracts are more comfortable to prove in court. A resolution agreement will prevent you from wasting money on resolving conflicts because these agreements dispute can be resolved quickly. Besides you can save your money, you can immediately do other more useful things.
Why Do We Need A Facilitator?
In resolving disputes, we need someone who acts as a decision-maker. A mediator can also function as a facilitator. A facilitator will give the right decision and can be used as a guide by both parties so they can improve and maintain good relations with the parties involved in the future. However, if with the facilitator, the problem cannot be resolved, then the issue must be resolved in court.
How To Create A Resolution Agreement Template?
The first thing is to ensure the identity of the parties such as full name, place of residence or the company he works for. The second step is to include terms and conditions in the agreement. You can also cover losses that must be replaced in the contract. And the last is to choose a settlement if at any time a dispute arises.
More or less, your time will be taken up if you have to make your agreement template. You must be detailed and careful in preparing the agreement. You don’t need to worry because you can download the model online. Interestingly, you can choose what format you need. Besides, you can also edit it according to your needs. With all these conveniences, you don’t need to waste time to be able to make a professional resolution agreement.
Resolution Agreement Sample Template