Installment agreement form 990 – 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 that will be paid when the job was completed. It’s a legally binding contract based on the law once it has 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 certain that the contract you fill out is formatted correctly you can look through various contract agreement samples to find one which best represents your requirement.
This form should be broken down into several sections to make sure all details of the contract are covered and there is not any room for error. It should begin with a section that explains who is doing the hiring and who’s being hired. This section may also be used to describe in detail the job which the individual or company is being hired to perform. It could also cover any components or materials that are to be used and any technical equipment that will be needed. For example John Smith is hiring Fred Blogs to use 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 must cover reimbursement, meaning how much the person or business 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 offer the listed services for the agreed upon amount and all information gained through the project will be held in the strictest confidence where deemed necessary by the employer. Finally the contract arrangement must include information that covers when the contract is to start 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 many different sample contract agreements that cover every imaginable type of job. You will almost certainly find several that relate directly to the job you have in mind and should make certain the one you choose is legal in the state where you are headquartered. Since this is a legally binding contract it is your job to be sure you cover all of the bases and leave no room for the independent contractor you hire to create a problem at any stage during the duration of the contract. Have a look the sample of installment agreement form 990 below at the attachment page.