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An independent professional can take one of two paths: a consultant or a contractor. Both job titles can be profitable and allow for a flexible work schedule, with one key difference: A company usually hires a contractor to complete a specific task, while a consultant might have broader responsibilities.
An independent contractor agreement is a contract that lays out the terms of the independent contractor's work. It covers the contractual obligations, scope, and deadlines of the work to be performed. It affirms that the client and contractor are not in an employer-employee relationship.
Key elements you should include in a consultant contract Scope of work. ... Payment terms. ... Confidentiality agreement. ... Intellectual property rights. ... Non-compete agreement. ... Termination clause. ... Limitation of liability. ... Dispute resolution.
Contractors are responsible for completing a specific task or project within a certain timeframe. However, consultants may have an ongoing relationship with clients, providing support over a longer period.
Simple Consulting Agreement The names of all parties involved. The names of the businesses involved. The scope of work. The time frame covered by the agreement. Compensation terms. Clarification about the consultant's role as an independent contractor. A confidentiality agreement.