Experience - Business Encounters

Allowance Contract

 

This agreement is intended to communicate the goals and terms of the allowance. This

agreement is between _____________________________ (name of "allowancee" - receiving

 

the allowance) and _______________________________(name of allowanceor - paying the

 

allowance).

 

Reason for the allowance: (goals of agreement)

 

 

An allowance is being _____________(given/earned) for the following reasons;

 

_____________________________________________________________________

 

___________________________________________________________________

 

___________________________________________________________________

(Example: to teach responsibility, learn to manage money, have own spending money)

 

Terms of the allowance:

 

1)How the allowance will be earned:

 

___________________________________________________

 

___________________________________________________

____________________________________________________


_____________________________________________________

 

(Example: specific jobs around the house, school performance, helping others)

 

2)Amount:

 

The allowance will be in the amount of _________________.

 

3) Payment term:

 

The allowance will paid______________ (daily/weekly/monthly) starting on the ______________(1st, 15th, 30th or specific day) day.

 

4) Currency:

 

The allowance will paid in _____________________ currency.

 

5) Use of allowance funds.

 

The allowance will be used with the following restrictions;

 

_______________________________________________________

 

________________________________________________________

 

_________________________________________________________

 

(Example: no restrictions, % savings, % gifts, %discretionary spending money)

 

6)Duration Term of this agreement:

 

This agreement is effective on _____________________(date) and will end on

 

_______________________ (date)

 

7) Disputes:

 

In the event of a dispute over any of the terms of this agreement;. both parties agree to

 

binding arbitration. The arbitrator will be _____________________________ (name)

 

This agreement was agreed to at_____________________ (city) and in the ____________________(Country)

 

Signatures of parties to this agreement::

 

 

 

________________________

Name of Allowancee

 

 

 

____________________________________

Signature of Allowancee

 

 

__________________________

Name of Allowanceor

 

 

 

___________________________

signature of Allowanceor