Agreement of payment contract template – Anytime you set out to hire a contractor or a subcontractor you’ll need to make certain you have a written contract in place. This document represents an agreement between both parties about what is expected and the compensation which will be paid once the job was completed. It’s a legally binding contract according to the law once it’s been signed and should be very specific in nature in order to prevent any confusion or possibility of misinterpretation on either party’s behalf. To be sure the contract you fill out is formatted correctly you can look through various contract arrangement samples to find one which best represents your need.
This form should be separated into several sections to be sure that all details of the contract are covered and there’s absolutely not any room for error. It should begin with a section that explains who’s doing the hiring and who’s being hired. This section can also be used to describe in detail the job which the individual or company is being hired to perform. It may also cover any components or materials that should be utilized and any specialized equipment that will be needed. For example John Smith is hiring Fred Blogs to use his backhoe to dig a trench for utilities which is 3 feet wide by 6 feet deep and 200 yards long.
The next section of the contract agreement must cover reimbursement, meaning how much the person or company will be paid for the job they have been hired to do. This is followed by an assurance of services that’s the contractor agreeing to provide the listed services for the agreed upon amount and all information gained through the job will be kept in the strictest confidence where deemed necessary by the employer. Finally the contract arrangement must include information that covers if the contract is to start and when it to finish.
For people who have never had to complete this sort of contract you can look online where you will find a lot of different sample contract agreements that cover every possible type of job. You’ll most likely find several that relate directly to the job you have in mind and should be certain the one you select is legal in the state where you’re headquartered. Because this is a legally binding contract it is your job to make sure you cover all of the bases and leave no room for the independent contractor you hire to make a problem at any stage during the duration of the contract. Check it out the sample of agreement of payment contract template below at the attachment page.