You may have finally decided to leave a full-time and become a freelancer. If you have the right skills, domain exposure and knowledge, you can become a successful freelancer! But then, you need to ensure your client offers a written contract. It offers the much desired security and protection to clients as well as freelancers. Moreover, proper Business-to-Business Contract helps set the right expectations, develop trust with clients and derive higher satisfaction. Hence, if you don’t have one, then consider creating it immediately to safeguards your rights.
8 ways to create impactful Freelance Agreement
1. Service/work description:
The contract is to have well-defined project scope. It helps the concerned parties to be aware of the work expectations. It should clearly define the work/services to be provided to the client including the time. Otherwise, you will only end up working more and get less payment. The contract should have a start date, scope of work/service, payment schedule/rate, contract end date and deadline.
2. Copyrights:
Be it affiliate marketing or content marketing, this clause is added to establish owner of the work. Generally, you will be working for your clients. Hence your clients are likely to own full ownership and rights of the produced materials. Transfer ownership rights helps clients to determine what they are likely to do with your produced work and use it in any manner they consider viable.
3. Payment terms:
You are required to compete the assigned Online Business tasks on time and ensure it is of superior quality as well as satisfactory. Your freelance contract is to have comprehensive payment terms. It can be either fixed project rate or hourly rate as discussed with the client. It should also specify clearly the payment date, late fees if any, who should bear responsibility for material costs and project expenses.
4. Terms, conditions and termination:
The contract is to include right to terminate or termination clause. This will be essential to legally end the contract in case the relationship fails. This can be due to missed deadlines, poor communication, etc. However, grounds for termination are to be outlined very clearly. Penalties and expenses for early ending of contract should be mentioned clearly. This will help avoid future trouble.
5. Confidentiality, right to disclose and non-disclosure:
Business-to-Business Contract should have this clause to safeguard the interest of both parties. Confidential informant should be protected. Information received concerning your clients’ business should be kept confidential and private. It can be proprietary processes, business strategies, client lists, financial information, etc. Detailed NDA (non-disclosure agreement) is considered to be a legally binding agreement between parties.
6. Competitive engagements:
Your clients may require you to work only for their company and not for their competitors. Hence, the contract should specify clearly the terms concerning competitive engagements, be it for hiring an affiliate marketing expert or a content writer, etc.
7. Indemnity clause:
It is necessary to determine who is responsible in case something goes wrong. Both parties are likely to seek reimbursement if the contract is breached by the other. Hold harmless provision or indemnity as it is known helps shift potential responsibility or costs to another party. It takes place if some unwanted circumstances occur. This clause ensures the indemnity party does not suffer from 3rd party claims or losses arising from the Online Business outcomes or contract.
8. Party signatures:
The contract to be considered a legal one should be agreed upon in writing by both the concerned parties. Signing the contract will be essential before starting of the project.
The above steps will help define the Freelance Agreement and make it a legal binding thereby safeguarding the concerned parties.
