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Well-written contracts can help ensure timely payment

It’s important for an Oregon business to get paid for the goods and services it provides to customers. It’s frustrating and potentially damaging for a company when a bill remains unpaid or a customer does not pay on time. Through well-written contracts with clear terms, a business can better enforce payment standards and maintain better relationships with customers. 

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Good contracts can prevent many problems with customers. When the method and terms of payment are included in a contract, it can reduce confusion and make it less likely there will be an issue with customers. In reality, a contract can protect the interests of both the clients and the company. One specific thing that is an important element of a good contract is being very specific about how the sale will take place, including when there will be a transfer of goods or performance of a service, and when payment is expected. 

In addition to being specific about the type of sale, it’s also smart to be very specific about the type of payments a company is willing to accept. This includes whether a client can buy on credit, write a check, use a card or even pay in cash. A contract will also need to include the expected amount of time that a customer will have to pay.

The more specific contracts are, the better they are for an Oregon business. When drafting a legal agreement, it may help to discuss options and objectives with an experienced business and commercial attorney. An evaluation of the situation can help a company ensure that they avoid legal issues with clients and customers. 

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