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 York Retainer Agreement for Virtual Assistant Services is a binding legal contract between a virtual assistant (VA) and a client based in New York. This arrangement outlines the terms and conditions under which the VA will provide their services and the responsibilities of both parties. A well-drafted New York Retainer Agreement for Virtual Assistant Services should cover key aspects such as scope of work, compensation, confidentiality, termination, and dispute resolution. By clearly defining these terms, the agreement helps ensure a smooth and professional working relationship between the VA and the client. Specifically, the scope of work section should detail the specific tasks and services the VA will offer, such as administrative support, email management, scheduling, research, social media management, or any other duties agreed upon. This section would also clarify any limitations on the VA's responsibilities. The compensation section of the agreement would specify the fee structure, including whether the VA will be paid on an hourly, weekly, or monthly basis. It may also outline any additional expenses the client will be responsible for, such as software subscriptions or specialized tools required by the VA to perform their duties efficiently. Confidentiality is a crucial aspect, and the agreement should address how the VA will handle sensitive information. This could entail a non-disclosure agreement or confidentiality clause, ensuring that the VA will not share any confidential or proprietary information of the client with any third party. Termination clauses would include provisions for early termination by either party, specifying the notice period required and any applicable fees or penalties. This helps protect both the VA and the client in the event that the working relationship no longer proves beneficial or sustainable. Dispute resolution mechanisms should be mentioned to outline the steps to be followed if any conflicts or disagreements arise. This might include mediation, arbitration, or litigation procedures. While there might not be different types of New York Retainer Agreement for Virtual Assistant Services, the terms and conditions within the agreement can be customized according to the specific needs and preferences of the client and the VA. Each agreement will have its unique terms, based on factors like the nature of the work, the desired level of involvement, and any additional requirements. In conclusion, a New York Retainer Agreement for Virtual Assistant Services sets out the expectations and obligations for both the virtual assistant and the client. It acts as a legal safeguard for both parties, ensuring clarity on the services provided, compensation, confidentiality, termination, and dispute resolution.
