Consulting Best Practices

Consulting Contracts: How to Stay Protected

If you are a consultant and looking to collaborate with a company, you will need a contract. A consulting contract or agreement is a crucial legal document that can help you define work and goals. It also provides the terms of the professional agreement between two parties. In this article at GoDaddy, Shahidnawaz Abbasi explains some essential elements you must include while writing your consulting contract.

Why is a Consulting Contract Important?

A well-written, comprehensive consulting agreement clearly stipulates the expectations and financial compensation at the completion of the project. A consulting contract’s primary purpose is to define the scope of work, the deadline, and execution methods.

What Should Your Contract Include?

Since every client-consultant relationship is different, there is no single list of what you must include in every contract. However, here are some standard elements that you must have in your agreement:

The Scope of Work

Your consulting contract must provide a detailed description of your duties and deliverables as promised to the client. “You can divide the entire project into different deliverables and mention the timelines for each deliverable. Adding deliverables to your freelance contract, again, helps you avoid uncertainty,” explains Abbasi. Be specific about the unique tools or required resources to do your job per the contract.

Pay and Invoicing Rates

The consulting contract must specify how much you will charge to complete a project. Regardless of the fee structure, make it clear how often you plan to invoice the client—monthly, quarterly, or upon completing a job.

Timelines and Deadlines

If a client retains your consulting services on an ongoing bias, detail your minimum or maximum billable hours per week, month, or quarter. Work with the client to establish deadlines for deliverables so that expectations are clear. Additionally, mention that you are not responsible for any missed deadlines if the client fails to provide you with the resources you require to successfully complete the job.

Want to learn what other elements you must include in the contract agreement? Click on to read the full article. 

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