One of the most important concepts in agreements or contracts is “a meeting of the minds”, which is where all parties to an agreement know exactly what they are expected to do and what they are expected to receive.
You can buy a diamond ring at Tiffany’s or at WalMart.
At least for a car or a diamond or any other product, you can examine the product before hand and do a test drive and look up reviews in Consumer’s Reports.
For services, one of the biggest problems is that there is no “meeting of the minds” because the metrics and details are not specified.
What’s needed is a detailed specification sheet that goes into detail about exactly what is included, what’s not included, what’s extra, what the quality control and the tolerances are etc.
In the absence of detailed specifications, people have to make assumptions, which are rarely if ever going to be exactly the same for all parties.
With exact detailed specifications, all parties are on the same page and they can attempt negotiate to an agreement that all parties find acceptable.
You can buy a diamond ring at Tiffany’s or at WalMart.
At least for a car or a diamond or any other product, you can examine the product before hand and do a test drive and look up reviews in Consumer’s Reports.
For services, one of the biggest problems is that there is no “meeting of the minds” because the metrics and details are not specified.
What’s needed is a detailed specification sheet that goes into detail about exactly what is included, what’s not included, what’s extra, what the quality control and the tolerances are etc.
In the absence of detailed specifications, people have to make assumptions, which are rarely if ever going to be exactly the same for all parties.
With exact detailed specifications, all parties are on the same page and they can attempt negotiate to an agreement that all parties find acceptable.