A virtual assistant is like a personal secretary. They provide customer support, write, answer calls, transcribe, do research, etc. They basically work at home and communicate with their Employer through the Internet or through phone. One method many companies take to maximize the likelihood of having a positive experience in retaining a virtual assistant is by going through a virtual staffing agency. These virtual staffing agencies operate similarly to conventional staffing agencies. When setting up the structure of a virtual assistant business, the owner must decide how he or she will collect the money earned for the services performed.
Traditional Invoicing/Net 30 Days If the virtual assistant does a lot of work for larger corporate clients, she may find that her clients will only do business with her if she extends Net 30 Day terms. With this arrangement, the virtual assistant will issue an invoice at the specified time periods or at the end of a project, whatever is agreed to prior to starting the project.
Traditional Invoicing/Due Upon Receipt Issuing the purchase order or having an agreement where the terms are Due Upon Receipt will help the virtual assistant to get paid much quicker. Just like Net 30 Day terms, the virtual assistant will send an invoice at specified times or at the end of the project and wait for the company to send a check.
Credit Card Payment The virtual assistant can set-up a merchant account and collect payment from the client using a credit card. An invoice will usually still need to be given to the client, but payment can be processed immediately at specified times. The virtual assistant can keep the clients credit card number on file and charge it as soon as a project is completed and the invoice is approved. Credit card payments can also be processed through PayPal without setting-up a merchant account.
Retainer Many virtual assistants collect a retainer from their clients. Often a discount is given when the client agrees to a certain number of hours of work per month charged if it is used or not. Since the client has already paid, they will most likely use the time, however, this is a nice way for the VA to estimate how much he or she will work in a month because the client as already committed to a certain number of hours.
A New Mexico Retainer Agreement for Virtual Assistant Services is a legal contract that outlines the terms and conditions between a virtual assistant and a client in New Mexico. This agreement establishes a working relationship and ensures both parties are clear about their responsibilities, compensation, and expectations. The main purpose of a New Mexico Retainer Agreement for Virtual Assistant Services is to protect the rights of the virtual assistant and the client, while also serving as a reference document in case of any disputes or misunderstandings. Keywords: New Mexico, Retainer Agreement, Virtual Assistant Services, legal contract, terms and conditions, working relationship, responsibilities, compensation, expectations, protect rights, disputes, misunderstandings. Different types of New Mexico Retainer Agreements for Virtual Assistant Services: 1. General Retainer Agreement: This type of agreement covers all aspects of the virtual assistant's services, including administrative tasks, social media management, email handling, research, and scheduling. It encompasses a wide range of services that the virtual assistant can provide based on the client's needs. 2. Specialized Retainer Agreement: In some cases, virtual assistants may offer specialized skills such as graphic design, content writing, bookkeeping, or web development. A specialized retainer agreement focuses on these specific services, ensuring that both parties are clear about the scope of work, deadlines, and any additional requirements related to these specialized tasks. 3. Project-Based Retainer Agreement: For clients who require assistance for a specific project or on a short-term basis, a project-based retainer agreement can be used. This agreement outlines the project details, deliverables, timelines, and compensation structure. It clearly defines the project scope and ensures that all parties are in agreement before commencing work. 4. Hourly Retainer Agreement: Some virtual assistants charge on an hourly basis, making an hourly retainer agreement crucial for transparency and fair compensation. This agreement includes the agreed-upon hourly rate, estimated time frames, and a record-keeping process to accurately track the time spent on tasks for billing purposes. 5. Confidentiality and Non-Disclosure Retainer Agreement: In situations where the virtual assistant may handle sensitive information such as client databases, marketing strategies, or proprietary data, a confidentiality and non-disclosure agreement may be added as an annex or as a separate agreement. This emphasizes the importance of maintaining confidentiality and ensures that the client's information remains secure throughout the engagement. Remember to consult with a legal professional when drafting or reviewing a New Mexico Retainer Agreement for Virtual Assistant Services to ensure compliance with local laws and regulations.
