Confirmation of Verbal Agreement Sample

Verbal agreements may seem like a straightforward way to seal a deal, but they can often lead to disputes and misunderstandings. That`s why it`s always important to confirm a verbal agreement in writing, especially when it comes to important business transactions. In this article, we`ll discuss what a confirmation of verbal agreement is and provide a sample template that you can use.

What is a Confirmation of Verbal Agreement?

A confirmation of verbal agreement is a document that serves as proof that a verbal agreement has been made. It is often used in business transactions to ensure a mutual understanding between two parties. The confirmation of verbal agreement outlines the terms of the agreement, including the details of what was discussed, such as the price, timeline, and responsibilities of each party.

Why is Confirmation of Verbal Agreement Important?

Verbal agreements can be easy to forget or misinterpret, which can lead to disputes and even legal action. By confirming a verbal agreement in writing, both parties have a clear understanding of the terms and can refer to the document if any issues arise. This simple step not only protects both parties but also helps to build trust and transparency in the business relationship.

Confirmation of Verbal Agreement Sample

Below is a sample template for a confirmation of verbal agreement that can be used as a starting point for creating your document:

[Date]

[Name of parties involved in verbal agreement]

[Address of parties involved]

Dear [Name of parties involved],

This letter serves as confirmation of our verbal agreement regarding [brief description of the agreement]. The agreement was made on [date] and the details of the agreement are as follows:

[Outline the terms of the agreement, including price, timeline, and responsibilities of each party]

We trust that this letter confirms our mutual understanding of this verbal agreement. If you have any questions or concerns regarding the agreement, please do not hesitate to contact us.

Sincerely,

[Your name]

[Your signature]

[Your contact information]

Conclusion

A confirmation of verbal agreement is an essential tool in business transactions to avoid misunderstandings and disputes. By taking this simple step, both parties can have a clear understanding of the terms of the agreement and refer to the document if any issues arise. Use the sample template provided to create your confirmation of verbal agreement and protect yourself and your business.