Payment agreement template between two parties – 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 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’s been signed and should be very specific in nature in order to avoid any confusion or chance of misinterpretation on each party’s behalf. To be certain the contract you fill out is formatted properly you can look through various contract arrangement samples to find one which best represents your need.
This form needs to be separated into several sections to make sure all aspects of the contract are covered and there is no room for error. It should begin with a section that explains who is doing the hiring and who is being hired. This section may also be used to describe in detail the job that the individual or business is being hired to do. It may 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 utilize his backhoe to dig a trench for utilities that is 3 feet wide by 6 feet deep and 200 metres long.
The next section of the contract agreement must cover compensation, meaning how much the individual or company will be paid for the job they’ve been hired to perform. 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 during the project will be held 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 finish.
For people who have never had to finish this type of contract you can look online where you’ll find many different sample contract arrangements that cover every possible sort of job. You will most likely find several that relate directly to the job you have in mind and should be sure the one you select 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 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 payment agreement template between two parties below at the attachment page.