Agreement letters are letters written and made between two parties or individuals as a formal agreement and states down the certain terms and conditions based on which the contract is made. An agreement letter is made while renting, buying, selling or lending money. These agreement letters are legal in nature and any violation of the terms can lead to legal implications.
The following are a few types of agreement letters:
- Payment agreement letter
- Employment agreement letter
- Rental agreement letter
- Purchase agreement letter
The following are the points to be kept in mind while framing an agreement letter:
- Letter of agreement is a formal document therefore the letter must have a formal and professional touch to it.
- The effective date of agreement and length of contract should be clearly mentioned.
- The names and addresses of both the parties should be mentioned.
- The latter part of the letter should consist of the certain terms and agreements which should be followed throughout the period of the contract.
- The details of the money involved and other monetary considerations are the points that have to be very carefully specified in the document.
- At the end of the agreement, both the parties should show their consent by signing.