Agreement payment plan letter – Anytime you set out to hire a contractor or a subcontractor you’ll need to make sure you have a written contract in place. This document represents an agreement between both parties as to what is expected and the compensation which will be paid when the job was completed. It’s a legally binding contract according to the law once it has been signed and should be very specific in nature so as to avoid any confusion or possibility of misinterpretation on either party’s behalf. To be certain that the contract you fill out is formatted correctly you may look through various contract arrangement samples to find one which best represents your requirement.
This form should be broken down into several sections to make sure all aspects of the contract are covered and there is no room for error. It should begin with a section that explains who’s doing the hiring and who is being hired. This section may also be used to describe in detail the job which the person or company is being hired to do. It could also cover any parts or materials that should be used and any technical equipment that will be needed. For example John Smith is hiring Fred Blogs to utilize his backhoe to dig a trench for utilities that is 3 feet wide by 6 feet deep and 200 yards long.
The next part of the contract agreement must cover reimbursement, meaning how much the individual or business will be paid for the work they’ve been hired to do. This is followed by an assurance of services which is the contractor agreeing to offer the listed services for the agreed upon amount and all information gained through the job will be held in the strictest confidence where deemed necessary by the employer. Finally the contract arrangement should include information that covers when the contract is to begin and when it to finish.
For those who have never had to complete this type of contract you can look online where you’ll find a lot of different sample contract arrangements that cover every imaginable sort of job. You’ll almost certainly find several that relate directly to the job you’ve got in mind and should be sure that the one you select is legal in the state where you’re headquartered. Since this is a legally binding contract it is your job to be sure that 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. Take a look the sample of agreement payment plan letter below at the attachment page.