Before you enter into or sign a consulting contract, you decide what your goals are. The agreement must at least describe the consultant`s objectives or tasks, the terms of payment, the amount to be paid, the deadlines and expectations for the final product. You should clarify these conditions before concluding the agreement. This summary does not constitute legal advice. Parties negotiating and considering advisory agreements should consult with appropriate legal counsel. 5. Conflict of interest, non-invitation. Customers should consider including a non-compete clause in the agreement, at least for the duration of the agreement and in the customer`s market area. Any non-competition clause must be reasonable to be enforceable. Most advisory agreements also include the assertion that the advisor will not at least ask the client`s staff for the duration of the agreement. If you have entered into the consultation agreement, you sign two copies, one for yourself and one for the other party. Be sure to keep the copy in your business documents so that you can review the terms of the agreement at the end of the period.

At this point, you may decide whether or not to renew the contract. 2. Independent contractors. The agreement must specify that the status of the advisor is that of an independent contractor. While it is important for tax reasons (withholding, etc.), it is also important, from the advisor`s point of view, not to contractually bind the client to third parties and may limit the client`s liability for the advisor`s actions, even if it is committed as part of the contract during the performance of the benefits. In a “advice agreement,” you can indicate a number of advisor requirements, including professional liability insurance, employer liability insurance, notice period (for example). B, temporary or terminated by redundancy), the time the advisor spends on your business and how and when he/she is paid. I think the entrepreneurial spirit is great and I recommend that entrepreneurs create and use a standard consulting agreement for their professional services. A standard agreement can be a competitive advantage and an important tool for the management of a consulting firm. Of course, not all advisors need to have a written agreement for each project. In addition, policy agreements between services and the sector will be different. My goal here is only to highlight some, not all, of the most important provisions that a consultant should consider in including in his model advice agreement.