It is written that I have been associated with XYZ company for 8 years. I was hired as an assistant to the manager but due to my hard work and determination, I got promoted to the rank of manager and have been leading a team of 5 competent members working tirelessly on various projects.
It has been a fortunate opportunity to work alongside brilliant minds and learn from them on each project. We deal with a variety of clients and sign many contracts each day. Although we try our best to make sure that every point of the client is considered and taken care of but many times scenarios change during unknown circumstances or fluctuations in the economy.
In case of great changes, contracts with clients have to be renewed to make sure that clients are aware of the project at every step and are satisfied with the work of the company. It is crucial to gain the trust of clients as they can become permanent if they are happy with our team and working conditions.
Contract renewal proposals are presented to the administration department so that clients are contacted and meetings are arranged to ensure a smooth process of renewal. I have designed a proposal for contract renewal with ABC company due to various reasons which I have mentioned in the proposal. Kindly consider my request and provide the answer at your earliest.
I shall be very grateful to you.
A contract or agreement is a written document that entails all the conditions that the involved parties should follow. It lists down the demands and requests of the clients and gives a fair chance to the business owner to include the terms on which they can work for the clients.
These contracts are drafted to ensure that both parties are aware of their responsibilities regarding the project and if it is not taken seriously then legal action can be taken against them.
All the terms and conditions of the contract are decided in the presence of legal counsels of both parties to help them understand their rights toward themselves as well as towards each other.
Contracts are drafted after the project is handed down to the company and the conditions under which both parties will perform, are decided. These conditions help both involved parties to know expectations and requirements and allow them to work together nicely. These contracts are untouchable and can be used in a court of law. They should be followed strictly by the involved parties because the opposite can lead to serious consequences.
These contracts can be renewed for various reasons, but this act occurs if both parties are in agreement with renewal. Renewal of contracts is mostly performed to add more conditions in the existing contract which are related to the changing work environment. Many times, clients want to add more details later, which requires a contract renewal.
Contract renewal can be done for various reasons that seem important to either the client or the company. Some of the significant reasons are mentioned below,
Every project has its high and low points which can be weighed at the end to evaluate the successful the project. It is not easy to draft and follow a contract as it limits you to a certain step and does not provide much room but there are many positive aspects as well. The significance of the agreement is,
Automatic contract renewal in case of expiration of existing contracts has several advantages which are provided below,
Automatic contract renewal poses a problem when they have renewed automatically and clients are unaware of the renewal as it can cost them a fortune to stay in relation with a company for another time period.