Down payment agreement template – Anytime you set out to hire a contractor or a subcontractor you’ll have to be certain that you have a written contract in place. This document represents an agreement between both parties about what is expected and the compensation that will be paid once the job was completed. It is a legally binding contract according to the law once it’s been signed and should be very specific in nature in order to avoid any confusion or possibility of misinterpretation on each party’s behalf. To be certain the contract you fill out is formatted correctly you may look through various contract agreement samples to find one that best represents your need.
This form should be broken down into several sections to make sure all details of the contract are covered and there’s absolutely not any room for error. It should begin with a section that describes who’s doing the hiring and who’s being hired. This section may also be used to describe in detail the job that the person or business is being hired to do. It may 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 section of the contract agreement should cover compensation, meaning how much the individual or company will be paid for the job they have been hired to perform. This is accompanied by an assurance of services that’s the contractor agreeing to provide the listed services for the agreed upon amount and that all information gained through the project will be kept in the strictest confidence where deemed necessary by the employer. Finally the contract arrangement should include information that covers when the contract is to start and when it to end.
For people who have never had to complete this type 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 will almost certainly find several that relate directly to the job you’ve got in mind and should make sure that the one you select is legal in the state where you are headquartered. Because this is a legally binding contract it is your job to make sure that you cover all of the bases and leave no room for the independent contractor you hire to create a problem at any point during the duration of the contract. Check it out the sample of down payment agreement template below at the attachment page.