The Advantages of a Standard Form Contract

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Standard contracts exist to expedite many business transactions. Learn what advantages are available by using a standard contract.

Save Time

Save time by using a standard form contract in your next business transaction. Pull out a preprinted contract and fill in the blanks. You can use this for real estate transactions, such as a rental agreement, where both parties agree on the basics of the contract and most of the terms. Fill in the length of the rental, the amount of the rent, and have both parties sign for a valid standard contract.

Ease of Use

Purchase a standard form contract normally used in your business. Find them at a stationary stores or office supply stores. Copy the standard form contract and file the copies to have them available each time you need them. Consider a software program which contains the standard form contract with fillable forms. Give your standard form contract a more professional look by inserting the names and addresses of the parties, as well as the terms directly into the contract before it is printed.

Reduce Negotiation

Reduce time you may spend negotiating each of the terms of the standard form contract. Determine which terms are necessary for a smooth business transaction and concentrate your negotiation on those terms. Cross out the terms which are inapplicable and write in other applicable terms not covered in the standard form. Review terms such as arbitration or availability of attorney fees for dispute clauses, application of state laws clauses, and termination clauses to determine if these terms are acceptable.

Eliiminate Attorney Fees

You can eliminate attorney fees with a standard form contract. Remove the need to have the attorney negotiate the contract, write the contract, and review the contract. Benefit with additional money in your pocket by using a standard contract to complete your business transaction.

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