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  • tilak replied to the topic Written Agreement v/s Verbal Agreement in the forum Consultants and Legal Basics 7 years, 4 months ago

    Although it is possible to begin a project based on a verbal agreements, it is still a very informal method of commitment and is not effectively reinforced. Written agreements are physical evidence of a contract between two or more parties that can efficiently motivate the successful completion of the project. In most cases, there are no consequences for for breaking verbal agreements due to its informality. For this reason, verbal agreements can also be changed to be more convenient or in favor of a specific party. They can be twisted very easily in way that a specific party can reap the most benefits in the agreement. In contrast, written agreements are as good as written in stone once it is approved and signed by each participating group. They ensure that each party is committed to following through with their responsibilities and roles. It also outlines all the criterion and requirements for the project very clearly, providing all the necessary detail. When starting a new project, it is essential to document it through a written agreement.