A consulting contract is a formal document which is made between a consultancy company and a person or party who wishes to use the consulting services provided by the consultancy. These contracts are legal documents which consist of certain clauses which are mandatory to be agreed by both the involved parties so as to avoid any legal implications. Consulting contracts must be well framed and must be drafted carefully as each word and line holds legal importance.
The following are a few useful tips for writing a consulting contract:
- A consulting contract must begin with the mentioning of the starting date of contract which is known as the effective date. This must be followed by giving the termination date and length of the contract term.
- It is important for a person to use legal and formal words in a consulting contract. Infact the format or the entire tone of the contract must also be formal.
- The details of the involved parties form an important part of any consulting contract. These must be mentioned under the headings which are the titles given to the parties, example: CONSULTANCY and COMPANY. These details must include the addresses, contact information etc.
- The consulting contract must clearly give the details of the type of the consulting offered by the consultancy and also the monetary details of consultancy.
- Consulting contracts must be clearly embedded with the detailed terms and conditions or clauses which are mutually decided and agreed by the involved parties. These terms and conditions must be entered point wise stressing upon each and every minute detail and the consequences which the parties shall face if the particular condition is violated.
- At the end, the signatures of the parties and that of the witness (if any) are also important to be given.