Employee loan repayment agreement template – Anytime you set out to hire a contractor or a subcontractor you will have to be sure 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 based on the law once it has been signed and should be very specific in nature so as to prevent any confusion or possibility of misinterpretation on either party’s behalf. To make sure the contract you fill out is formatted correctly you may look through various contract agreement samples to find one that best represents your requirement.
This form should be broken down into several sections to be sure all details of the contract are covered and there’s absolutely no room for error. It should start with a section that explains who is doing the hiring and who’s being hired. This section can also be used to describe in detail the job that the individual or business is being hired to do. It may also cover any components or materials that should be utilized 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 metres long.
The next part 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 do. 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 held in the strictest confidence where deemed necessary by the employer. Finally the contract agreement must include information that covers when the contract is to begin and when it to end.
For people who have never needed to complete this type of contract you can look online where you will find a lot of different sample contract arrangements 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 make sure the one you select is legal in the state where you are headquartered. Since this is a legally binding contract it is your job to make sure that you cover all the bases and leave no room for the independent contractor you hire to make a problem at any point during the duration of the contract. Have a look the sample of employee loan repayment agreement template below at the attachment page.