Installment payment agreement template free – Anytime you set out to hire a contractor or a subcontractor you’ll have to make sure 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 has been 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 avoid any confusion or possibility of misinterpretation on either 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 which 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 no room for error. It should begin with a section that explains who’s doing the hiring and who is 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 could also cover any components or materials that are to be utilized and any technical equipment that will be necessary. For example John Smith is hiring Fred Blogs to utilize his backhoe to dig a trench for utilities which is 3 feet wide by 6 feet deep and 200 metres long.
The next section of the contract agreement must cover reimbursement, meaning how much the individual or company will be paid for the job they have been hired to do. This is followed by an assurance of services that’s the contractor agreeing to offer the listed services for the agreed upon amount and all information gained during the project will be kept 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 end.
For those who have never had to finish this type of contract you can look online where you will find many different sample contract agreements that cover every imaginable sort 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 choose is legal in the state where you’re 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 make a problem at any point during the duration of the contract. Take a look the sample of installment payment agreement template free below at the attachment page.