Why Is It So Important To Have Your Barter Agreement In Writing?
As the saying goes, the palest ink is better than the sharpest memory.
Putting your barter deals in written contracts keeps you and the other party on the same page rather than creating confusion about who does what, when, and how.
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Technology Creates More Opportunities For Business Bartering
Bartering isn’t just something are ancestors did. Believe it or not, technology has made it that much easier to do barter deals than our great-grandparents could every have dreamed.
Instead of being confined to a local market, you now have the ability to trade goods and services with others globally.
Whether your business needs a new smart phone or Web design work, there’s someone in the world who is ready, willing, and able to make a barter deal with you.
5 Key Barter Contract Issues
Here are some of the issues you should consider when having your Internet business attorney create the barter contract you’ll use…
1. Will you barter in your individual capacity or on behalf of your business entity?
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2. Are you trading goods, services, or a combination of the two?
3. How will you use your barter agreement to reduce your legal risks if things go wrong?
4. What laws apply and how will dispute resolution occur if the other barterer becomes upset?
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5. Will you do partial barter deals that involve cash, and if so, how will monetary payment occur as part of the trade?
How To Avoid Barter Contract Legal Dangers
Don’t steal someone else’s contract to use for your business.
Most of the barter contracts you find online were not created by a business lawyer but instead were pieced together by nonlawyers who didn’t know what they were doing.
In addition, using someone else’s barter contract without permission could expose you to liability for copyright infringement.
The best course of action is to invest in a customized barter agreement that reflects your online business needs. Check out our law firm’s Business Contract Legal Protection Package.
However, if you don’t have the budget to pay a qualified business attorney to prepare your contract, one affordable alternative is to use the professional grade barter agreement template available at LegalFormsMart.com.