Loan repayment agreement template – Anytime you set out to hire a contractor or a subcontractor you’ll have to be certain you have a written contract in place. This document represents an agreement between both parties about what is expected and the compensation which will be paid when the job was completed. It’s 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 chance of misinterpretation on either 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 needs to be separated into several sections to make sure that all details of the contract are covered and there is no room for error. It should start with a section that explains who’s doing the hiring and who is 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 parts 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 yards 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’ve been hired to do. This is followed by an assurance of services which is the contractor agreeing to provide 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 agreement should include information that covers if the contract is to start and when it to end.
For those who have never needed to complete this sort of contract you can look online where you’ll find many different sample contract arrangements that cover every possible sort of job. You’ll almost certainly find several that relate directly to the job you’ve got in mind and should make 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 that you cover all 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. Check it out the sample of loan repayment agreement template below at the attachment page.