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Law Pro
Law Pro, Attorney
Category: Business Law
Satisfied Customers: 24870
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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I AM THE OWNER OF A VERY SMALL COMMERCIAL MAT SERVICE. I AM

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I AM THE OWNER OF A VERY SMALL COMMERCIAL MAT SERVICE. I AM IN COMPETITION WITH LARGE NATIONAL COMPANIES LIKE CINTAS. THESE COMPANIES HOLD 5 YEAR CONTRACTS WITH MY POTENTIAL CUSTOMERS. MY QUESTION IS -- IS IT LEGAL FOR ME TO SEEK CONTRACTS WITH THESE POTENTIAL CUSTOMERS NOW THROUH OFFERING A DISCOUNTED RATE TO WHAT THEY ARE PAYING MY COMETITION NOW. IF THEY SIGN A CONTRACT WITH ME NOW THAT DOES NOT TAKE EFFECT UNTIL THEIR CONTRACT IS OVER WITH THEIR CURRENT SERVICE. AND HOW COULD I WORD IT IF IT IS LEGAL. MANY THANKS DON

Yes, certainly you can sign contracts to take effect some time later - that's done all the time.

 

You would just have the start and end dates 5 years later.

 

So for example - this contract between A and B is to start on ___________ (date you want it to start - 5 years from now) and end or terminate on _____________ (date you want it to end - that would even be 10 years from now).

 

The thing ou have to get is consideration for this contract - a contract isn't good without consideration ie. $1.00 (one dollar). But you can state to the effect that one dollar hereinafter exchanged for entering this contract.

 

Then later in the contract your going to have to spell out what the charges will be for your services.

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