Recurring payment agreement template – Anytime you set out to hire a contractor or a subcontractor you’ll have to be sure that 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 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 so as to prevent 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 arrangement samples to find one that best represents your requirement.
This form needs to be broken down into several sections to make sure that all aspects of the contract are covered and there’s absolutely not any room for error. It should start with a section that explains who is doing the hiring and who’s being hired. This section can also be used to describe in detail the job that the individual or company is being hired to perform. It could also cover any components or materials that are to be used and any specialized equipment that will be necessary. For example John Smith is hiring Fred Blogs to use his backhoe to dig a trench for utilities which 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 company will be paid for the work they have been hired to do. 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 arrangement must include information that covers if the contract is to start and when it to end.
For those who have never had to complete this sort of contract you can look online where you’ll find a lot of different sample contract arrangements that cover every imaginable type of job. You will most likely find several that relate directly to the job you have in mind and should make sure that the one you select is legal in the state where you are headquartered. Since this is a legally binding contract it is your job to be sure that you cover all the bases and leave no room for the independent contractor you hire to create a problem at any point during the duration of the contract. Check it out the sample of recurring payment agreement template below at the attachment page.