FAQ ( Frequently Asked Questions )
Contract: A legally binding agreement between two or more parties.
Policy: A guiding principle or rule established by an organization to direct decisions and achieve outcomes.
Offer, acceptance, consideration, mutual obligation, competent parties, and legal purpose.
Yes, if a policy is incorporated into a contract or if the policy sets expectations that lead to reasonable reliance, it can be enforceable.
The scope should clearly define the work, services, or goods to be provided, including the timelines, deliverables, and standards.
Use plain language, define key terms, avoid jargon, and specify all necessary details to avoid multiple interpretations.
Employment contracts, service agreements, sales contracts, lease agreements, non-disclosure agreements (NDAs), and partnership agreements.
When the contract involves significant obligations, high risk, complex terms, or legal implications that could affect the parties’ rights.
A policy manual provides a comprehensive collection of an organization’s policies, serving as a reference for employees, management, and stakeholders.
Policies should be reviewed annually or whenever there is a significant change in the organization, industry regulations, or relevant laws.
Identify the need, consult stakeholders, draft the policy, review and revise, approve, and communicate the policy to relevant parties.
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