subject: Contract Employment Template: A New Idea For Consulting Profits [print this page] A contract employment template is definitely an indispensable device of the business for independent and contract professionals. As an independent advisor, whether you are working full time or part-time, on an ongoing basis or a fixed time period, you should guard your business interests all the time. A signed agreement is the very first actual phase of any project, so you should take this step seriously.
The very first thing to consider is clearly the character of the work you'll be performing for the client. If you're carrying out a relatively simple job by yourself, say arranging office data files, or cleaning delivery automobiles, an easy description of the duties to be accomplished, time to finish, price for the services, and any reimbursable expenses are the only considerations needed. If the job is complex, long in timeframe, or involves contractors and subcontractors, additional depth is required in the contract. In this case, the ideal approach is to have a short employment contract template which references a much longer comprehensive work plan showing key staff, jobs and obligations, timelines, delivery requirements, and other needed items.
Next, you want to outline the exact payment terms in the contract employment template. This handles the regularity you will invoice the customer, the type of invoice, any fees or up front cost coverage fees, how long the customer has to pay you (for example 10 business days or perhaps thirty business days from the time of receiving your invoice), and any early or late pay penalties. For example, a late payment could be billed a late payment fee and a portion interest rate of the bill by month or day. This is an excellent opportunity to include earlier repayment discounts too -- if you make these discount rates significant (five to ten percent or more) then your customer is incentivized to pay you quickly!
Now, what is the additional important info needed? Title, street address, phone, and other contact information for both parties is required. A statement that the agreement is the entire agreement among the parties helps to ensure that you or your customer will not assume there are other documents or communications floating around that can affect the contract. A clause stating the contract can only be modified, terminated, or transferred on paper signed by both sides ensures that both sides must come to the table and negotiate any modifications, however tiny. Finally, the contract employment template needs to have a selection of law and location section which selects the laws and location of the court, a country, state, or geographic area, if there is a conflict. This can additionally specify arbitration before you take the disagreement to court.
A service provider must always enter into formal contracts with their customers. This is accomplished after the preliminary get to know and discussions stages, either with or without an attorney involved. This strategy could be regarded as guidelines for implementing a contract employment template.
