Sample payment agreement letter between two parties – Anytime you set out to hire a contractor or a subcontractor you’ll have to be certain 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 is a legally binding contract according to the law once it has been signed and should be very specific in nature so as to avoid any confusion or chance of misinterpretation on either party’s behalf. To make sure the contract you fill out is formatted correctly you can look through various contract agreement samples to find one which best represents your requirement.
This form needs to 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 start with a section that explains who is doing the hiring and who’s 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 components or materials that should be used and any specialized equipment that will be needed. 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 metres long.
The next part of the contract agreement should cover reimbursement, meaning how much the person or company will be paid for the job 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 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 begin and when it to end.
For people who have never had to finish this sort of contract you can look online where you will find a lot of different sample contract agreements that cover every imaginable type of job. You will most likely find several that relate directly to the job you’ve got in mind and should be sure that the one you select is legal in the state where you’re headquartered. Since this is a legally binding contract it’s your job to make sure that you cover all 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. Have a look the sample of sample payment agreement letter between two parties below at the attachment page.