A bone fide agreement template is an archive that guarantees that a person or a party you are dealing with is trustworthy. A bona fide agreement, as we may call it, in other words, shows another party’s good faith in you or in your business. It is a tool that brings in more clients, which in turn gives more revenue to your business and, as a result, more profit. Moreover, it secures the bond of trust between the client and the dealer. Practically, a bona fide agreement template prevents your business from a number of legal disputes and disagreements since it is proof of authenticity. These agreements can be signed during various situations ranging from buying or selling products to handling certain legal issues at your company or an organization.
Importance of Bona Fide Agreement:
A bona fide agreement template starts with the name of the company or the person issuing this along with their brief introduction. It also includes a statement verifying that the legal rights and duties of the concerned party have been acknowledged by the other. Since this agreement is a contract of assurance for the other party to develop a relationship of trust for the other, it must be generated with mutual understanding. A bona fide agreement also incorporates a section where signatures of both the concerned parties are taken. Alongside that, the date of issuance and the validity time period must be mentioned in the format for the bona fide agreement. This archive holds legitimate value and whatever information this document holds is authentic and by all means true.