A marketing agency agreement can be a key item in forming partnerships and growing your agency. It is essential to include details about all the obligations and expectations in your marketing agency agreement to stave off some of the biggest problems when it comes to marketing agency contracts. Some of the biggest challenges that can occur from a poorly written contract include:
When it comes to preparing a marketing agency contract, the old adage, "hope for the best but prepare for the worst" still holds true. No matter how much due diligence you perform before engaging in business with someone, every once in a while things just don't work out.
Remember that if you don't set clear expectations, you could be setting yourself up for disappointment and frustration. These issues can not only lead you to lose time and money but also can result in a lawsuit. To prevent frustration, establish a few items in your contract, including:
A contract is about preventing the occurrence of a bad situation by preventing it from happening in the first place. Your contract does not need to be complicated or require much legal jargon. Complicating the contract will not improve its legality and can actually make it more confusing for both parties. Upon completion of drafting the agreement, it is important to go over the contract with your client and answer any questions they may have. It is also good practice to have the documents reviewed by a legal professional before bringing them to your client.
Some of the main purposes of drafting these agreements are to specify the scope of work, terms, and cost of services. They serve as tools to clarify the purposes and conditions for the arrangement, focusing on the rights and responsibilities or each of the involved parties.
One of the common legalities that should be included in any contract is identifying all the individuals engaged in the agreement. This section should:
There should be a section of the contract that addresses duration issues. This part should answer such questions as:
If a retainer is involved, it may not have a set start and end date. Also note that some deadlines cannot be met, so having the contract valid through the completion of the project is probably a better choice than a date. You will also want to specify what constitutes the completion and specify that the files will be released after payment has been made. These files may be the only thing ensuring you receive payment.
The scope of work is one of the most crucial parts of your contract. You will want to include this section within the first two pages of the contract. The key to having a successful scope of work is to include as many specifics as possible. At the minimum, your scope of work section should include:
Scope creep, or additional work, can be challenging to verbalize because it happens on a more day-to-day basis. There should be a mention or what will constitute as additional work and how the additional services will be charged. This can also be as simple as stating that any additional work will be quoted at a separate rate and in a different agreement.
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