A consultancy agreement is neededwhereone company appoints an external consultant. The company may like to use their services to do a specific work by hiring someone who has expertise in that field. The consultancy agreement is made between the company and consultant. It outlines the scope of work to be performed by them and other terms and conditions related to their appointment in the company. It is one ofthe kind of service agreement.
It is one of the kind of service agreement. A well-written and comprehensive consulting agreement is important for both the consultant and the client as it provides a reference about the expectations of both parties and what financial compensation is provided at the end of the project.A consultant is a professional who provides expert advice, information or knowledge in a particular field. Consultants can work in any specialized industry, including business.
The consulting agreement is an agreement between a consultant and a client who wishes to retain certain specified services of the consultant, for a specified time, and at a specified rate of compensation.
A consultant is a professional who provides expert advice, information or knowledge in a particular field. Consultants can work in any specialized industry, including business, education, law, finance, marketing, healthcare etc.
The agreement helps to avoid misunderstandings on the part of both the consultant and the company. In the event of any dispute between the consultant and the company it also serves as a legal document.
Features of Consultancy Drafting:
1.DETAILS OF THE PARTIES:Names and addresses of the parties to the agreement must be present in a consultancy agreement.
2.DESCRIPTION OF THE SERVICES: It’s very important that the consultancy agreement precisely describes what you are expecting the consultant to do, including details of any deliverables.
3.TIME PERIOD: The time period during which services will be provided. You need to know that the work will be done within a reasonable time period so the timing should be specified in the contract.
4.CONSULTANCY FEE: The agreement needs to state precisely what the consultant will be paid and whether he/she is entitled to charge any additional expenses on top of his/her fee. Invoicing at month end is normal.
5.OWNERSHIP OF IP: The consultancy agreement should state that the intellectual property in work done by the consultant for you belongs to the company.
6.LIABILITY: The consultant might wish his/her liability to the company for defective or negligent work to be to an agreed limit. The companymight wish to insist that the consultant maintains a minimum level of insurance against any potential claim you might have against him/her.
7.CONFIDENTIALITY:The consultancy agreement should impose a duty of confidentiality on the consultant, so that he/she shall disclose confidential information relating to the business to any outside party.
8.TERMINATION PROVISIONS: The consultancy contract should identify the circumstances in which either party can terminate the contract (e.g. early termination for breach of contract).
Passport photo of all parties.
PAN card of all parties.
Aadhar card of all parties.
Utility bill of Electricity or Telephone.
Valid Address Proof of all the parties.
Valid Driving Licence of all the parties.
Terms and Conditions
Terms and Conditions between the parties.
Other documents will be intimated through e-mail.
Consultant agreements are important because they outline what work will be done, as well as the terms of the agreement between the client and the consultant. A consultant agreement should be detailed and include compensation terms, contract termination, intellectual property ownership and confidentiality agreements.
Generally, a Consultant is a self-employed independent businessperson who has a special field of expertise or skill. On the other hand, a Contractor is a self-employed independent businessperson who agrees to work for another usually for a fixed price.
A consultant working as a freelancer or independent contractor offers several payment options, including payment by the hour, by project or on retainer. Some clients prefer to be charged by the hour. Consultants receive an agreed upon fee for work on a project completed by a specified date.
The parties to the Consulting Services agreement are the Customer/Client and the Consultant. The Customer is the individual or business requiring the Consulting Services while the Consultant is the individual or corporation providing the Consulting Services.
Consulting Services Agreements typically address the following:
• the parties to the agreement;
• the service being offered;
• the term of agreement; and
• the compensation that will be provided to the Consultant.
The problem with oral agreements is that they are difficult to prove. If a dispute arose, a court would have to hear evidence and decide whose version of the truth to accept. If there is a written agreement, courts will generally be obligated to uphold its terms even if they don't agree with them.