| A contract employment template is an | | | | late payment could be charged a late payment |
| indispensable tool of the trade for independent | | | | fee and a percentage interest rate of the bill per |
| and contract consultants. As an independent | | | | month or day. This is a good opportunity to |
| consultant, whether you are working full time or | | | | include early payment discounts as well -- if you |
| part time, on an ongoing basis or for a set time | | | | make these discounts significant (5-10% or more) |
| frame, you need to protect your interests at all | | | | then your client is incentivized to pay you quickly! |
| times. A signed contract is the first real stage of | | | | Next, what is the additional crucial information |
| the project, so you need to take this step | | | | needed? Name, address, telephone, and other |
| seriously. | | | | contact information for both parties is mandatory. |
| The first consideration is obviously the nature of | | | | A statement that the contract is the entire |
| the work you will be doing for the client. If you | | | | agreement between the parties helps to ensure |
| are doing a relatively simple job on your own, say | | | | that you or your customer don't assume there |
| organizing office files, or cleaning delivery vehicles, | | | | are other documents or communications floating |
| a simple description of the tasks to be completed, | | | | around that can affect the contract. A clause |
| time to completion, price for your services, and | | | | saying the contract can only be modified, |
| any reimbursable items are the only things | | | | canceled, or transferred in writing signed by both |
| required. If the work is complex, long in duration, | | | | parties ensures that both sides are required to |
| or involves contractors and subcontractors, more | | | | come to the table and negotiate any changes, |
| detail is needed in the contract. In this case, the | | | | however small. Finally, the contract employment |
| best thing to do is to have a short employment | | | | template should have a choice of law and venue |
| contract template which references a much | | | | paragraph which selects the laws and location of |
| longer comprehensive project plan outlining key | | | | the court, a country, state, or local area, if there |
| personnel, roles and responsibilities, timelines, | | | | is a conflict. This can also specify arbitration |
| delivery requirements, and other important items. | | | | before taking the conflict to court. |
| Secondly, you want to outline the exact payment | | | | A contractor should always enter into formal |
| terms in the contract employment template. This | | | | agreements with his or her clients. This is done |
| covers the frequency you will bill the client, the | | | | after the initial get to know and negotiation |
| form of invoice, any retainer or up-front cost | | | | stages, either with or without an attorney |
| coverage fees, how long the client has to pay | | | | present. The above approach would be considered |
| you (for example 10 business days or 30 calendar | | | | best practices for using a contract employment |
| days from date of receipt of your invoice), and | | | | template. |
| any early or late payment terms. For example, a | | | | |