Sign Kentucky Profit Sharing Agreement Template Myself

Document type sign profit sharing agreement template kentucky myself

hi everybody welcome back to our YouTube channel Canadian business do it try it again me Eugene from CBS today's topic of our video is the most important document for your business and while the initial answer is very simple of course it's your business contract or business agreement and the wishes supply services of products to clients the difficulties issues problems that you have to define and that agreement might post certain problems for many of us so before I start talking about the substance of the document the technical comment the agreement is always there no matter what you do no matter under which circumstances it is there it could be in writing it could be verbal it could be by conduct but the only question would be what does it contain not if it's there and this is why having a proper written agreement no matter what the service or product that you supply is very important for almost every single business that operates in Canada it provides you with clarity with simplicity with efficiency and with predictability in your relations with the clients and if done right if done improperly spectable way it also gives your client a sense of convenience and sense of reliability in your relations so yes I suggest to have a written agreement that would include certain points that I'll discuss now so first of all pay your attention put as much time as needed to properly define what is that exactly that you do your service or your product define it and think from the clients perspective what would client expect or want to get from you and what exactly will you supply where your intentions will not correspond to each other anymore and what I mean is that what doesn't your service include a product and you have to define it very properly so selling me your car do you also sell a car wash oil change a concierge service by providing me your consulting services do you also provide me the success of my business and will they result in actual growth of my sales and define it in a very simple clear way so the customer will know what they buy what they pay for and what they didn't pay for and that is also important for you because a client might want that additional thing that additional complication to the vehicle or additional hour of consultation and you would maybe would be able to provide it but for additional tape maybe you won't be able to provide it and then your customer cannot expect it from you to do second define properly how when where you provide your services or products timelines geographical occasions these are not always clear especially in long-going agreements when you when it's not just they come to a store buy coffee and they leave when you supply certain products belong certain stretch of time if you do import expert operations define where exactly is the point of supply if it's in your location then client should know that they're responsible for expert operations for import to their country customs documentation if it's on their side then you should know that you're responsible for that that should also affect the cost of your product or your services that point brings us to the next topic and that's the liabilities so at which point the ownership of product that you supply is being transferred to the client and that is important because that affects the question who is responsible for the loss so if you ship a vehicle and the vehicle is being destroyed in a storm who's responsible for the loss if it's you that's okay but in your price you should include the cost of insurance if it's client then it's also okay but the client should know that and purchase the necessary insurance to cover the losses or at least to know that the risk is there define where your liabilities lay so and most importantly where they do not while you sell a vehicle are you liable for the damages that the driver will cause with that vehicle when you provide a consulting services are you liable for the success or lack of such success by the business define the limits of liability so when you sell a cup of coffee for $1 will you be liable for half a million dollar damages so maybe you will limit your liability by five dollars by hundred dollars whatever is convenient for you make sure that these are properly defined in the agreement many contracts can can result in certain dissatisfaction the conflicts between you and your clients and the better the resolution process is defined the simpler is for you to deal with whether it would be with arbitration or court system defined where if you supply something from Canada to Europe would you like to go to the country of supply to to be sued would you force your client to come to Canada to be sued will you choose some country in between to use their legal system as a neutral one and to resolve conflicts make sure these are defined then again when you're done with your agreement make sure you properly define the parties of course it's easier for you to write your company at the header of the agreement you know what it is make sure that the client is defined in a proper and very clear way so if husband gets something can wife insist on getting the same or continue or change the agreement if my and that applies to businesses as well so if my holding company purchase services do they also apply to my affiliated companies can I demand from you to do those services these definitions are very important if you get services from someone and those services are not good enough and you want to sue you want to know whom you're suing make sure that you get the documentation proving the exact name exact location of the business that you work with and the people responsible for the business so you can go and come with certain questions demands to those people so these are the basics for the agreement to expect from every business owner to sit down and write an agreement I think that wouldn't be prudent I also think that wouldn't be cost-effective no matter how your service is expensive or cheap you sell coffees or your sell cars have a professional prepare it for you you can come to us and we'll help you to do your agreements you can go to a lawyer order these services from someone else but make sure that you have a professional who understands your business who understands how the processes between you and your client work and then defines in the agreement the boundaries of those processes the boundaries of liabilities the expectations of the parties and my advice make it as simple as possible don't overcomplicate I never saw anyone happy from over complicated agreements sometimes they just delete the process they extend the time between you approaching the client and them signing the agreement simple more or less mutual protective interests protect clients interests give them the information to work with and make sure that that is accessible no matter what your business is if you work with clients and just send them your documents it's simple but what if the client comes to your store to buy something make sure that you advise them of what the terms and conditions are refer them to the document online business the same make sure that your terms and conditions the terms of use are expressly noted on your website and people can read it these points are important these points in addition to protecting you create a sense of working with a serious business business that respects his clients business that respects itself provides certain protection to clients it just will improve your relations with professional clients and at the end of the day that's what we all try to do to get happy clients that like us and like working with us so if you need help with the agreements if you have any questions about what that agreement should include as I always say detailed particular identifiable questions better sent through our website ww CBS dot see a contact us page email me I'll respond general questions if you want more explanations if there are certain issues that you want us to address for your business or for business in general put in the comment section below and I always read your comments and respond to them let us know we'll answer your questions so thank you for being with us again CBS Canadian business and enterprise services subscribe follow us visit our website ask your questions give us your feedback whether positive negative as long as it's constructive and helps us to improve help you we'll be happy to hear it thank you bye