consultancy-agreement

Consultancy Agreement

2 signers
1Consultant
2Client
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What is ​​a Consulting Agreement?

A consulting agreement is created between twi parties – a consultant and a client. The consultant provides advice, knowledge and any professional services in exchange for payment. A consultant is chosen based on his specialised skill set, experience and extensive knowledge.

Why You Need This Agreement?

Under a consulting arrangement, the consultant is working as an independent contractor and any work that is provided falls under the ownership of the other party (client) unless otherwise agreed upon.

commission agreement template

Retainer vs Non-Retainer

Retainer agreements usually created with a pre-decided number of hours is required and done for long-term contracts. Whereas, Non-Retainer agreements are done for short-term projects and the consultant usually has less than 5+ years of experience.

commission agreement template

Clauses

4 types of clauses should be included in this agreement – confidentiality, non-compete, indemnification and termination. There should be a mention of any of these applicable clauses on the agreement. 

commission agreement template

Ways to Pay​

The agreement can be structured in 2 ways. The most common structure is the client agrees to pay the consultant on an hourly basis. And the other way is to pay the consultant a fixed amount to complete the project.

commission agreement template

Return of Materials

Here’re some of the important components of the agreement – The Parties, Services, Term, Compensation, Retainer, Contingency etc.

FAQ About Our Consultancy Agreement Template

A standard consulting agreement is the most common (and often most important) type of consultant agreement. It is a basic contract that outlines the number of hours and the rate of pay, the scope of the work to be performed and deliverables.
First of all you should add a term clause. This clause clearly specifies the duration of the agreement i.e. the start date and the finish date. The next very important thing is compensation clause. This is relatively important for both the parties i.e. the consultant and the client.

This works when the consultation will occur for a myriad of work. In that case, the main agreement can be used to outline the scope of the agreement between the involved parties while the Statement of Work would specifically give details of a specific work as and when required.

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Capterra

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