Simple payment agreement template word – Anytime you set out to hire a contractor or a subcontractor you’ll need to make sure 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 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 possibility of misinterpretation on either party’s behalf. To make sure that the contract you fill out is formatted properly you may look through various contract agreement samples to find one that best represents your requirement.
This form should be separated into several sections to make sure that all details of the contract are covered and there’s absolutely not any room for error. It should begin with a section that explains who’s doing the hiring and who is being hired. This section can also be used to describe in detail the job that the person or company is being hired to do. It could also cover any components or materials that are to be utilized and any technical equipment that will be necessary. For example John Smith is hiring Fred Blogs to use his backhoe to dig a trench for utilities that is 3 feet wide by 6 feet deep and 200 metres long.
The next part of the contract agreement must cover compensation, meaning how much the individual or business will be paid for the work they’ve been hired to perform. This is followed 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 through the job will be kept in the strictest confidence where deemed necessary by the employer. Finally the contract arrangement must include information that covers if the contract is to begin and when it to finish.
For people who have never had 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 will almost certainly find several that relate directly to the job you’ve got 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’s your job to be sure that you cover all of 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. Have a look the sample of simple payment agreement template word below at the attachment page.