Step-by-Step Process to Create Other Agreements in India
Step 1: Identify the Purpose of the Agreement
Clearly define:
- Nature of relationship
- Scope of work or transaction
- Duration and commercial intent
Step 2: Identify the Parties
Mention:
- Legal names and addresses
- Business registration details
- Authorized signatories
Step 3: Define Scope, Rights & Obligations
Include clauses on:
- Deliverables or services
- Payment terms
- Timelines and milestones
- Roles and responsibilities
Step 4: Add Commercial & Legal Clauses
Important clauses include:
- Confidentiality
- Intellectual property rights
- Indemnity and liability
- Termination and exit terms
- Governing law (India)
- Dispute resolution (arbitration / courts)
Step 5: Review Legal Validity
Ensure the agreement:
- Is lawful and not against public policy
- Has free consent of parties
- Has lawful consideration and objective
Step 6: Stamp Duty & Execution
- Pay stamp duty as per state laws
- Execute agreement via physical or digital signatures
- Register agreement if required (e.g., lease agreements)
Documents Required for Other Agreements
- Identity proof of parties
- Business incorporation documents
- Address proof
- Scope of work / commercial terms
- Authorization documents
Benefits of Proper Agreements
- Legal clarity and enforceability
- Reduced disputes and misunderstandings
- Protection of business interests
- Clearly defined payment and delivery terms
- Stronger business credibility
- Risk mitigation and compliance
Common Mistakes to Avoid
- Using generic templates
- Missing termination or dispute clauses
- Improper stamping
- Ambiguous scope definitions
- Ignoring jurisdiction and governing law
How Saving Mantra Helps
Saving Mantra offers comprehensive agreement drafting and review services, including:
- Customized business agreements
- Startup and founder agreements
- Vendor, franchise, and service contracts
- Legal vetting and compliance checks
- Digital execution support
Frequently Asked Questions (FAQs)
Q1. Are other agreements legally enforceable in India?
Yes, if drafted as per the Indian Contract Act, 1872.
Q2. Is stamp duty mandatory for all agreements?
Yes, stamp duty is required and varies based on agreement type and state.
Q3. Can agreements be signed digitally?
Yes, agreements signed using valid digital signatures are legally enforceable.
Q4. Do all agreements need registration?
No, only specific agreements like long-term lease agreements require registration.
Disclaimer
This article is for informational purposes only and does not constitute legal advice. Agreement requirements, stamp duty, and enforceability may vary based on jurisdiction and facts. For customized and legally compliant agreements, consult Saving Mantra professionals.