Payment plan agreement template free – Anytime you set out to hire a contractor or a subcontractor you will need to be certain 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 according to the law once it has been signed and should be very specific in nature in order to prevent any confusion or chance of misinterpretation on each party’s behalf. To make certain the contract you fill out is formatted properly you can look through various contract arrangement samples to find one which best represents your requirement.
This form needs to be broken down into several sections to make sure all details of the contract are covered and there’s absolutely no room for error. It should begin with a section that describes who is 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 do. It could also cover any parts 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 yards long.
The next section of the contract agreement should cover compensation, meaning how much the person or business will be paid for the work they’ve been hired to do. This is accompanied by an assurance of services which is the contractor agreeing to offer the listed services for the agreed upon amount and that all information gained during the job will be held in the strictest confidence where deemed necessary by the employer. Finally the contract arrangement should include information that covers if the contract is to begin and when it to end.
For those who have never had to complete this type of contract you can look online where you’ll find many different sample contract arrangements that cover every imaginable sort of job. You’ll almost certainly find several that relate directly to the job you have in mind and should be certain the one you select is lawful in the state where you’re headquartered. Since this is a legally binding contract it’s your job to make sure you cover all of the bases and leave no room for the independent contractor you hire to make a problem at any stage during the duration of the contract. Have a look the sample of payment plan agreement template free below at the attachment page.