Basic Contract Form - All contracts should contain the basic information needed to understand the parties of the contract and the terms of the agreement.

These include: 

  • The names of the parties;  
  • The term of the agreement;  
  • The obligations of the parties respectively;  
  • The terms of payment, if any; 
  • The procedure for early termination of the agreement (e.g., 10 days notice); and 
  • A signature line for the authorized individuals executing the agreement.

Deletions and Insertions - Wording changes, deletions, and insertions must be made on the original contract and to all copies of the contract. Deletions should be made by striking the text. Do not remove or use "white-out" for deletions. Every change, insertion, and deletion to the contract and all copies must be initialed by the person responsible for signing the contract. A short horizontal line should be drawn in the margin beside each change, insertion, and deletion and initialed by the signer.