7 Types of Contract Documents

A contract document specifies an agreement between two or more individuals or groups, with a common purpose of creating a lawful obligation. There are many numbers of contract documents depending on the requirement. Here we specify about 7 different types of contract documents.

1. Car Selling Contract

Selling your used car is considered to be economical than having to go for a car dealership trade. You can expect higher price of sale, but you should be able to produce your own contract papers. It is a simple document in which you should include information such as the reason for sale, the parties involved, description of vehicle, price, date of contract and signatures.

2. Personal loan Contract

Contract for personal loan, should consist of all the detailed information about the loan. The agreement should contain information such as loan amount, interest rate, a schedule of your loan repayment, and consequences on failing to repay the loan.

3. Employment Contract

An employment contract serves as a legal protection to both employee and the employer. It should consist of details like job description, salary, date of joining, hours of work, job location, confidentiality and job termination information. Once the agreement is signed, it can be used as legal document in case of disputes between the employer and the employee.

4. Lease Contract

Lease contracts are usually prepared by lawyers, but as they have been standardized, they no longer need professional help in writing them. You should keep in mind that some laws associated to property and tenancy, differ by state; so you require a form or a local statute specifying your state.
It is advisable to start with a general lease form. You should use the lease form, which was drafted as per the laws of your locality.

5. Partnership Agreement

A partnership agreement is a legal contract document, which does not require professional help in drafting it. If you have the understanding of framing customizable and standardized sentences in the partnership contract, you can save some money for yourself.
Your agreement document should consist of the name of your partnership, partners involved, type of business and its location, duration of your business, capital used and property contributed.

6. Independent Contractor Agreement

When you are hiring an independent contractor, you must carefully analyze its pros and cons.  Independent contractor document serves as a legal agreement, which helps in protecting the company from having to reclassify as an employee. The agreement can eliminate various issues involving tax liabilities, unemployment, minimum wages, insurance, wrongful termination, overtime and many others. You must make sure that your agreement consists of necessary provisions and clearly specifies the relationship between the independent contractor and the company.

7. Contract for Services Rendered

This type of contract document defines the related terms and conditions of the service which you provide. You should carefully review the proposed terms, before agreeing to them. You should specify the names of your clients, address and their phone numbers in the agreement. Provide all the details of your job. There are different types of formats in which you can prepare the contract. You can make use of an invoice or a letterhead paper.

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