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A consulting agreement is a legally binding document that affirms a client's request for assistance from a consultant. It's a contract detailing the terms of service between a consultant ? operating as an independent contractor ? and a client.
It's much more common for a consultant to charge for their work on a large, per-project basis, while independent contractors are more likely to charge an hourly fee.
Consultants are experts in their field, and think-tanks who work with companies as advisors. They ultimately assist a business with specific, critical and complex problems, which is often integrated with optimizing the company's workflows and projects, and offering insights on how to do things better.
A Standard Service Agreement is a legal contract between a client and a service provider. The agreement outlines important details about the business relationship and the duties owed to one another. It may include information like pricing, ownership, shipment details, and much more.
It helps both parties stay on the same page regarding the work to be done and the compensation involved. Having a consulting agreement in place when hiring an external advisor or specialist is a common business practice. It not only ensures transparency but also protects your company from potential disputes.