What is a Letter of Agreement?
A letter of agreement is a formal written document that outlines the terms and conditions of a business arrangement or contract between two or more parties. It serves as a written record of the agreement reached between the parties and helps ensure that all parties are clear on the terms the arrangement.
The contents of a letter of agreement typically include details such as the scope of work or services to be provided, responsibilities of each party, payment terms, deadlines, and any other relevant terms and conditions. By documenting these details in writing, a letter of agreement helps prevent misunderstandings and disputes that may arise in the future.
Letters of agreement are commonly used in various business transactions, such as partnerships, collaborations, services agreements, and more. They are often used when a full contract is not necessary or practical, but a written record of the agreement is still needed for clarity and legal purposes.
Overall, a letter of agreement is a valuable tool for formalizing business arrangements and ensuring that all parties are in agreement on the terms of the agreement. It helps protect the interests of all parties involved and provides a solid foundation for a successful business relationship.
A Free Letter of Agreement
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MODIFICATION AGREEMENT
This Agreement made this ___ day of ______________, 20___, by and between __________________, of _________________, and ____________________, of _________________.
In consideration of the promises contained herein, additional to those heretofore made, that certain contract entered into between the parties, on _____________________, 20___, a copy of which contract is attached hereto and marked Exhibit A, is hereby, modified in the following respects only:
By inserting in such agreement attached hereto as Exhibit A, between the Paragraphs numbered ______ and ______, the following new paragraph: ________.
_________________________________________________________________
_________________________________________________________________
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The agreement attached hereto as Exhibit A is otherwise reaffirmed. Executed on the date first above written.
___________________________ ___________________________ ___________________________
Witnesses
___________________________ ___________________________ ___________________________
Witnesses
NOTICE
The information in this document is designed to provide an outline that you can follow when formulating business or personal plans. Due to the variances by many local, city, county and state laws, we recommend that you seek professional legal counseling before entering into any contract or agreement.