What should be in the contract

What must necessarily be in the contract includes the subject matter of the contract, the terms of its conclusion, the price, the terms of execution, the date of conclusion and signatures of the parties.

The subject of the contract is that one of the parties is going to provide the other. The term describes the actual meaning of the agreements made. At the same time, the subject of the contract is that the second party provides in exchange for the goods or service provided. It’s usually cash.

The text of the treaty necessarily stipulates the essential conditions for its conclusion. These, according to Art. 432 of the Civil Code of the Russian Federation, include: terms on the subject of the contract, conditions which are obligatory for the conclusion of this type of contract in accordance with the current legislation, and also the conditions imposed by one of the parties obligatory to reach an agreement.$

The subject of the contract is mentioned above. Under the second paragraph, the type of contract should be defined: purchase and sale, transfer of ownership, contracts, leases, etc. Thereafter, the laws and regulations in force should be consulted, $ to find out what conditions for the treaty are essential and to include them in the instrument.$ With regard to the third paragraph, any party may specify the inclusion of its terms, which it considers to be essential.

The price of the contract must be specified necessarily. It determines all possible compensations and penalties that may arise when the terms of the contract or the terms of its implementation are violated. It is desirable to determine the cost of each stage of the contract But at the same time, they should be clearly allocated by the volumes, terms or services provided. And do not forget to specify whether or not included in the specified value of the VAT contract. If the price of the contract is indicated in euros or dollars, mark in the text at what rate and on what date will be recalculated in rubles. With currency you have the right to pay only with banks.

Be sure to specify the terms of execution of both all work and its individual stages in the contract, if they are allocated. You can also specify a runtime in calendar days. And don’t forget to put the date of conclusion of the contract in the cap of the document or next to the signatures of the parties. The signatures of the parties must be on all sheets of the document, which must be numbered.

Leave a Comment