What should be included in a professional services agreement?

As a legally binding contract, a PSA provides protection for both the consultant and the business that requests the services. A PSA typically lists the services that the consultant will perform, the compensation that the business will provide, and the time frame for the contract.

Can a consultant terminate a contract?

Except during the term of a Project Assignment, Consultant may terminate this Agreement without cause at any time, with termination effective fifteen (15) days after Consultant’s delivery to Company of written notice of termination.

What liabilities do consultants have?

General liability: Covers against third-party injuries (physical and personal), accidents and property damage. Commercial auto insurance: Similar to personal auto insurance, but covers vehicles used for business purposes. Business property insurance: Covers damage to your company’s property and on-site physical assets.

Do consultants need to be bonded?

Consultants often need third-party fidelity bonds to satisfy the requirements of a client contract, especially when they work with clients in the financial services industry. When this bond protects clients against employees who enter their property, it’s called a business service bond.

Can a consultant be an independent contractor?

Freelancers and consultants are known as “independent contractors” in legal terms. An independent contractor (IC) is a person who contracts to perform services for others without having the legal status of an employee.

How do I protect myself as a Consultant?

Protect yourself: Put your guidelines in writing — and stick by them. Have a very clear discussion laying out your professional boundaries and ask your client to do the same. Come to an understanding about working hours and response times and agree on how you will schedule calls, meetings, and Skype sessions.

Can you fire a Consultant?

Briefly explain the reasons you are letting the consultant go. Be direct. You don’t need to provide specific details or incidents. If you are firing her because of poor performance, state that you cannot justify the costs for the lack of results, but don’t be rude or accusing.