Subject: Terminology Update
Time: 4:08:00 PM EDT
Author: indexlady
Some indexers don't work with a hard contract. Instead, e-mails are often used as a letter of agreement, MOU (memorandum of understanding), or confirmation letter. The object is to make sure you are both in agreement on the scope of work to be done, the deliverable expected, due date, and other terms agreed upon during a telephone conversation.
The June 2006 issue of Entrepreneur magazine has a new term for these types of e-mails and letters. It calls them:
Reliance letters.
The longer a person takes to correct a Reliance Letter sent to them (i.e., the indexer sending it didn't hear the due date correctly on the telephone, and the due date is actually 10 days sooner than the indexer is expecting it to be), the more teeth it has in a lawsuit because the indexer "relied" on the letter, and the other party didn't correct their understanding in a timely fashion.
I frequently use these types of letters in many facets of life. But, this is the first time I've heard them called Reliance Letters.
New terminology to remember. This is the latest trend of what to call these types of letters--not Letter of Agreement or Confirmation Letter.
Written by indexlady Blog about this entry