Informal payment agreement template – Anytime you set out to hire a contractor or a subcontractor you’ll have to be sure that 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 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 sure that the contract you fill out is formatted correctly you can look through various contract agreement samples to find one that best represents your need.
This form should be separated into several sections to be sure all details of the contract are covered and there’s absolutely not any room for error. It should start with a section that describes who is doing the hiring and who is being hired. This section may also be used to describe in detail the job that the person or business is being hired to perform. It could also cover any components or materials that are to be used and any specialized equipment that will be necessary. 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 reimbursement, meaning how much the person or company will be paid for the work they have been hired to do. This is accompanied by an assurance of services which is the contractor agreeing to provide the listed services for the agreed upon amount and all information gained during the job 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 start and when it to end.
For people who have never needed to finish this type of contract you can look online where you will find a lot of different sample contract arrangements that cover every imaginable type of job. You will almost certainly find several that relate directly to the job you’ve got in mind and should be certain the one you choose is lawful in the state where you are headquartered. Because this is a legally binding contract it is your job to make sure you cover all 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 informal payment agreement template below at the attachment page.