A contract is a legally binding agreement between two or more parties for a specific purpose. A contract can be signed between two or more parties and can be used in all types of transactions. Different types of contracts have different rules and provisions that determine the dependence, responsibilities and obligations between the parties. Therefore, it is very important to make the right decision on which type of contract to use.
- Sales Contract: The seller is obliged to deliver the goods to the buyer for a certain price. Sales contract is the most common type of contract used in the sale of goods or services.
- Lease Agreement: The lessor transfers the right to use the property to the lessee for a certain period of time and receives a certain rental fee in return. This type of contract is frequently used, especially in the property sector.
- Employment Contract: It is a contract signed between the employer and the employee. The employment contract is a contract in which the employer gives work to the employee and the employee does the work for a certain fee.
- Property Sales Contract: It is a contract used in the sale of an immovable property. The seller transfers the right of ownership of the property to the buyer for a certain price.
- Distributorship Contract: It is a contract where the sale of the goods produced by a manufacturer in a certain region is transferred to another company. This contract is frequently used especially in the distribution of products.
- Consultancy Contract: It is a contract concluded by a firm providing consultancy services with a customer to provide consultancy services on a specific subject. This type of contract is especially common in areas such as legal and financial consultancy.
- Business Partnership Agreement: It is a contract signed by two or more persons to do business together for a specific purpose. This type of contract is especially used in areas such as business development and investment activities.
- Escrow Agreement: An escrow agreement is a contract signed for the temporary entrustment of a good. The parties agree on issues such as the nature, amount, duration and conditions of the entrusted property.
- Contract of Undertaking: A contract of commitment is a contract in which one party undertakes to perform a certain work for the other party. The parties agree on issues such as the nature of the work, duration, and fee.
- Licence Agreement: A licence agreement is a contract in which one party grants the other party the right to use a certain technology, trademark or patent. The parties agree on issues such as the duration of the licence, terms of use, licence fee.
- Surety Contracts: Suretyship contracts mean that if one person fails to fulfil a debt obligation, another person assumes this debt.
- Contracts of Carriage: These types of contracts relate to the carriage of goods or people from one place to another.
- Insurance Contracts: Insurance contracts determine that in exchange for a person paying the insurance company for a certain risk, the company provides some form of protection against possible losses.
Contract types have an important place in business life and daily life. In case of disputes between the parties, the nature and content of the contract plays an important role. Therefore, before signing a contract, the parties need to make sure that they understand and agree to all the details.