this post will explain what a business contract is, why they are so important, and all of the different types of business contracts you need to know about. contracts are also a perfect opportunity for businesses to demonstrate their professionalism, and that they care about the commitments they make. however, there are still various commercial lease obligations to follow when renting out a business property, and these should be clearly outlined in this type of business agreement. they are often drafted in the early stages of commercial relationships, and are used before a formal contract has been entered.