Invoice payment agreement template – Anytime you set out to hire a contractor or a subcontractor you will need to be certain 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 has been completed. It is a legally binding contract according to 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 each party’s behalf. To make sure that the contract you fill out is formatted correctly you may look through various contract agreement samples to find one which best represents your requirement.
This form should be separated into several sections to be sure all aspects of the contract are covered and there’s absolutely not any room for error. It should begin with a section that describes who is doing the hiring and who’s being hired. This section can also be used to describe in detail the job that the person or company is being hired to do. It could 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 use his backhoe to dig a trench for utilities that is 3 feet wide by 6 feet deep and 200 yards long.
The next part of the contract agreement should cover reimbursement, meaning how much the person or business will be paid for the job they have been hired to do. This is followed by an assurance of services which is the contractor agreeing to offer the listed services for the agreed upon amount and all information gained through the project will be kept in the strictest confidence where deemed necessary by the employer. Finally the contract agreement must include information that covers if the contract is to start and when it to end.
For those who have never had to finish this sort of contract you can look online where you’ll find a lot of different sample contract arrangements that cover every imaginable sort of job. You will most likely find several that relate directly to the job you’ve got in mind and should be sure the one you choose is legal in the state where you are headquartered. Because this is a legally binding contract it’s 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 invoice payment agreement template below at the attachment page.