No matter what a contract is about, it should include the following parts to ensure that the interests of both parties remain protected while they are both aware of their rights and obligations.<\/p>\n\n
Every contract should have a descriptive title<\/strong>, e.g. sales agreement, rental agreement.<\/p>\n\n Contracting parties<\/strong> (and their representatives) should be defined.<\/p>\n\n When will the contract come into force and when will it be terminated<\/strong>. If it is a purchase agreement, the contract will be complete when the sale is complete. Regarding services, contracts can be created for a fixed or an indefinite period.<\/p>\n\n If the contract is not about a single exchange, but something ongoing, e.g. a rental agreement or an accounting service, terms on who and how can terminate the contract should be included.<\/p>\n\n The subject of the contract, including the main tasks and expectations<\/strong> of the parties.<\/p>\n\n A detailed list of rights and obligations<\/strong> of each party.<\/p>\n\n A definition of when the subject of the contract can be considered delivered, and how receipt is supposed to be confirmed<\/strong>. Delivery might mean different things for physical objects or services.<\/p>\n\n How and when the subject of the contract should be paid for<\/strong>. If it is about an ongoing service, this typically includes how often you will receive bills, and what payment deadline to expect for each.<\/p>\n\n Additional obligations related to performance, such as deposits, late fees, non-delivery fees, penalties, or refunds<\/strong>. (It will depend on the type of agreement whether any of these should be included.)<\/p>\n\n Sometimes things happen that are out of the control of either party<\/strong>, but which prevent the parties from delivering their part. It is good practice<\/strong> to include procedure for such unforeseeable events to reduce harm to both parties.<\/p>\n\n Especially if you move around a lot, it is important to know how and where you can ask for legal remedy if there is a dispute between you and the other party. Contracts made in Hungary will typically fall under Hungarian jurisdiction<\/strong> \u2013 and this should be spelled out in the contract. Additionally, if you are signing a bilingual contract<\/strong>, there should be a line about which version should prevail<\/strong> if there is a difference between the two.<\/p>\n\n The date when the contract was signed<\/strong> should be indicated next to the signatures.<\/p>\n\n The contract should be signed by both parties (or their representatives)<\/strong>. In most cases, a contract also requires some kind of attestation, which can be done by two witnesses, a lawyer, a notary, or another official.<\/p>\n\nContracting parties<\/h3>\n\n
Validity period<\/h3>\n\n
Scope<\/h3>\n\n
Rights and obligations<\/h3>\n\n
Delivery<\/h3>\n\n
Payment terms<\/h3>\n\n
Guarantees<\/h3>\n\n
Force Majeure<\/h3>\n\n
Jurisdiction<\/h3>\n\n
Date<\/h3>\n\n
Signatures<\/h3>\n\n