2016-11-09 00:00:00 Operations English https://d1bkf7psx818ah.cloudfront.net/wp-content/uploads/2017/03/08214849/Two-male-employees-discuss-service-contracts-standing-in-office-by-electronic-equipment.jpg What is a Service Contract?

What is a Service Contract?

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A service contract is an agreement where a contractor, freelancer, or consultant details the time, effort, and expertise he or she will provide in exchange for compensation. Though small businesses working with freelancers or contractors may be tempted to make a deal with a simple handshake, it is very wise to have a service contract placed in writing. An agreement written and signed by both parties legally solidifies the responsibilities of both sides, which can be important if disagreements arise. A well-written service contract includes details about who is supposed to do the work, what type of work is being done, when it needs to be completed, and the cost.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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