The consultancy agreement is signed by the company and the consultant. It defines the scope of their employment and other terms and circumstances associated with their appointment in the organization.
What are the components of the Consulting Agreement?
The following are major components of the consulting agreement:
Scope : The consultation agreement explicitly defines the consultant’s tasks, obligations, and services. In general, work techniques are not specified.
Duration : The contract also specifies the period for which the firm needs the consultant’s services.
Terms : The payment conditions comprise the amount to be paid to the consultant, the frequency of payment, and the mode of payment. In addition, all out-of-pocket fees will be specified in the agreement.
Confidentiality : Except for material previously known to the general public, the consultant is required to keep corporate information secret.
Termination : The agreement defines the ability of any party to terminate the contract and the requisite notice time.
