Write Your Own Business Letters and Contracts – Save a Fortune on Lawyers’ Fees

Small business owners can save a fortune in legal fees by searching online for boilerplate legal documents which cover anything from employment law to business letters, debt recovery to landlord and tenancy agreements for your property investments.

There are many free business letters and templates out there but do remember to read the document fully yourself before using it. You may need to adapt or remove some of the lines which don’t apply to your business or situation.

It can be intimidating to write a letter of complaint or send a reminder for a late-paying customer, but using a template can help you overcome the block of how to start your letter. A good letter template will be well structured and flexible enough that you can modify or remove portions to fit your circumstances.

For example in a sub-contracting agreement, it is important to be as specific as possible about the tasks or deliverables which the sub-contractor must deliver. In a supplier agreement be sure to check the penalties for late delivery are suitable for you or check how refunds for defective materials are handled. Especially useful template documents can be confidentiality agreements which you can produce easily prior to discussing a new project with a potential client or partner.

In complex scenarios you should consult qualified legal advice as the potential loss you can suffer from using an inappropriate template is more than the cost of the advice. Even in these cases, looking at template documents will help to familiarise you with the issues and parameters that you will be discussing with your lawyer, again helping you to target your lawyer’s high hourly rate more effectively.

Do remember also that verbal contracts are enforceable but it is always best to follow up a verbal agreement with a written document that clarifies what was discussed and what was agreed. Although this may seem cumbersome in the long run it keeps things clear and avoids potential misunderstandings later down the road.