Utah Sample Letter for Agreement - Letter of Understanding Regarding Terms of Proposed Contract

• Category: Letters - Nonlegal - Agreements
• State: Multi-State
• Control #: US-0050LR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. Utah Sample Letter for Agreement — Letter of Understanding Regarding Terms of Proposed Contract Dear [Recipient's Name], I am writing this letter to propose a contract agreement between [Your Company/Organization Name] and [Recipient's Company/Organization Name]. We have discussed the terms and conditions thoroughly, and this letter serves as a detailed description of what is agreed upon. 1. Parties Involved: This agreement is made between [Your Company/Organization Name], located at [Your Company's Address], referred to as "Party A", and [Recipient's Company/Organization Name], located at [Recipient's Company's Address], referred to as "Party B" hereafter. 2. Purpose of the Agreement: The purpose of this proposed contract is to establish a mutual understanding between Party A and Party B regarding the scope, responsibilities, and deliverables of the project outlined. 3. Project Details: The project outlined in this agreement pertains to [briefly describe the project or service]. It includes the following key deliverables: — [Deliverable 1— - [Deliverable 2] - [Deliverable 3] 4. Terms and Conditions: a. Duration: The project shall commence on [Start Date] and is expected to be completed by [End Date]. b. Responsibilities: Party A will be responsible for [specific tasks/responsibilities], while Party B will undertake [specific tasks/responsibilities]. c. Payment Terms: The agreed payment terms include a [specific payment structure, i.e., fixed fee or hourly rate] of [amount] to be paid [on a weekly, monthly, or milestone-based basis]. d. Intellectual Property: Any intellectual property or proprietary rights related to the project shall be retained by the respective party who originally owns them. e. Confidentiality: Both parties agree to maintain strict confidentiality regarding any sensitive information exchanged during the project's duration. f. Termination Clause: In case either party wishes to terminate this agreement prematurely, they shall provide a written notice of [number of days] prior to the intended termination date. 5. Dispute Resolution: In the event of a dispute arising from this agreement, both parties shall attempt to resolve it amicably through negotiation and dialogue. If resolution is not achieved, the matter shall be referred to mediation or arbitration in accordance with the laws of the State of Utah. Please review the terms and conditions mentioned above thoroughly. If you agree with the proposed terms, please sign and return a copy of this letter to indicate your acceptance. Upon receiving your signed copy, we shall proceed with the necessary steps to finalize the contract. Thank you for your attention to this matter. Should you have any questions or require further clarification, please do not hesitate to reach out to me directly at [Your Phone Number] or [Your Email Address]. Sincerely, [Your Name] [Your Title] [Your Company/Organization Name]

Utah Sample Letter for Agreement — Letter of Understanding Regarding Terms of Proposed Contract Dear [Recipient's Name], I am writing this letter to propose a contract agreement between [Your Company/Organization Name] and [Recipient's Company/Organization Name]. We have discussed the terms and conditions thoroughly, and this letter serves as a detailed description of what is agreed upon. 1. Parties Involved: This agreement is made between [Your Company/Organization Name], located at [Your Company's Address], referred to as "Party A", and [Recipient's Company/Organization Name], located at [Recipient's Company's Address], referred to as "Party B" hereafter. 2. Purpose of the Agreement: The purpose of this proposed contract is to establish a mutual understanding between Party A and Party B regarding the scope, responsibilities, and deliverables of the project outlined. 3. Project Details: The project outlined in this agreement pertains to [briefly describe the project or service]. It includes the following key deliverables: — [Deliverable 1— - [Deliverable 2] - [Deliverable 3] 4. Terms and Conditions: a. Duration: The project shall commence on [Start Date] and is expected to be completed by [End Date]. b. Responsibilities: Party A will be responsible for [specific tasks/responsibilities], while Party B will undertake [specific tasks/responsibilities]. c. Payment Terms: The agreed payment terms include a [specific payment structure, i.e., fixed fee or hourly rate] of [amount] to be paid [on a weekly, monthly, or milestone-based basis]. d. Intellectual Property: Any intellectual property or proprietary rights related to the project shall be retained by the respective party who originally owns them. e. Confidentiality: Both parties agree to maintain strict confidentiality regarding any sensitive information exchanged during the project's duration. f. Termination Clause: In case either party wishes to terminate this agreement prematurely, they shall provide a written notice of [number of days] prior to the intended termination date. 5. Dispute Resolution: In the event of a dispute arising from this agreement, both parties shall attempt to resolve it amicably through negotiation and dialogue. If resolution is not achieved, the matter shall be referred to mediation or arbitration in accordance with the laws of the State of Utah. Please review the terms and conditions mentioned above thoroughly. If you agree with the proposed terms, please sign and return a copy of this letter to indicate your acceptance. Upon receiving your signed copy, we shall proceed with the necessary steps to finalize the contract. Thank you for your attention to this matter. Should you have any questions or require further clarification, please do not hesitate to reach out to me directly at [Your Phone Number] or [Your Email Address]. Sincerely, [Your Name] [Your Title] [Your Company/Organization Name]