Independent Contractor Agreement Add US Currency Field For Free

The equivalent form for overseas contractors is W-8BEN. Even though companies do not have to report foreign contractor payments to the IRS, they should have foreign contractors complete Form W-8BEN (for individuals) or W-8BEN-E (for entities). These forms are used to establish status as a foreign person or entity.

The best way to send money to overseas independent contractors is still PayPal. The payment receiver fees are 2.9% + $0.30 in the US and 3.9% + exchange fee for payments made internationally. Some companies prefer PayPal because it allows payment through a corporate credit card.

1Get it in writing.2Keep it simple.3Deal with the right person.4Identify each party correctly.5Spell out all of the details.6Specify payment obligations.7Agree on circumstances that terminate the contract.8Agree on a way to resolve disputes.Ten Tips for Making Solid Business Agreements and Contracts Nolo\nwww.nolo.com > make-business-contract-agreement-30313

An independent contractor also has the right to turn down work or subcontract it out. A company cannot hold an independent contractor to a dress code or rules of conduct and cannot fire an independent contractor.

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As long as the foreign contractor is not a U.S. person and the services are wholly performed outside the U.S., then no Form 1099 is required and no withholding is required.By signing Form W-8BEN, the foreign contractor is certifying that he or she is not a U.S. person.

Terms. This is the first section of any agreement or contract and states the names and locations of the parties involved.Responsibilities & Deliverables.Payment-Related Details.Confidentiality Clause.Contract Termination.Choice of Law.