At Source One, we have found many buyers and suppliers still
rely on handshake agreements to get business done. Recent studies
have shown that the reliance on the handshake agreement is now much more
dangerous than previously thought, as these types of arrangements can often
lead to the transmission of bacteria and ultimately, the spread of disease.
We’ve compiled a list of the most popular agreements between
buyers and sellers, and in order of preference detailed why handshake
agreements are by far the most dangerous.
1. The Written
Contract – a good written contract between buyer and seller provides each
party with clear guidelines regarding the commercial relationship. In case of dispute or non-performance, these
legally binding agreements help ensure each party acts responsibly and in
accordance with sound business principles.
2. A Wink and a Nod
– also known in popular circles as “Bob’s your uncle”, these agreements are
less formal in nature than the written contract, but require no form of
touching, thus preventing the spread of deadly germs.
3. The Fist Bump
– now becoming a popular substitute to the handshake agreement, the fist bump
prevents the spread of germs by up to 90%.
4. The Handshake Agreement
– this least preferred method lacks all the benefits of a written contract, and
still represents the greatest threat to the health and well-being of the buyer
and seller. While still the most
popular, our research shows that the handshake agreement will be phased out by
the year 2214.
For more information on the dangers of handshake agreements,
and how to implement a no handshake strategy via written contract or wink/nod
methodology, please contact Diego De la Garza at dgarza{at}sourceoneinc.com
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