Increase the profits & reduce the risks are two key secrets to build a successful freelance career
Most people only focus on increasing profits and ignore to prevent the loss
Include 9 elements in your freelance agreement
You are closer to success!
[🧵]
#freelance #contracts
Most people only focus on increasing profits and ignore to prevent the loss
Include 9 elements in your freelance agreement
You are closer to success!
[🧵]
#freelance #contracts
1. Scope of work
Clearly define the work you’ll deliver:
📍Make a list of all deliverables
📍Set up the schedule of each deliverables
Make sure both sides are on the same page of the expectation.
Clearly define the work you’ll deliver:
📍Make a list of all deliverables
📍Set up the schedule of each deliverables
Make sure both sides are on the same page of the expectation.
2. Change & Revision
📍Clearly define how many revisions your clients can make. This prevents the endless change.
📍You can state the additional fee if your client request additional revision.
📍Clearly define how many revisions your clients can make. This prevents the endless change.
📍You can state the additional fee if your client request additional revision.
3. Pricing & Payment terms
📍Amount:
Negotiate a price you can accept
📍Payment schedule:
Set a specific date for the payment
Suggested to request 30%-50% advance payment
📍Late payment fee
📍Payment method:
Credit card, ACH bank transfer, or Stripe
📍Amount:
Negotiate a price you can accept
📍Payment schedule:
Set a specific date for the payment
Suggested to request 30%-50% advance payment
📍Late payment fee
📍Payment method:
Credit card, ACH bank transfer, or Stripe
4. Extra expenses & taxes
📍 If there will be any costs and expenses i.e. travel costs, food expenses & taxes, remember to state in the contract.
📍Keep the invoice in case your clients have questions.
📍 If there will be any costs and expenses i.e. travel costs, food expenses & taxes, remember to state in the contract.
📍Keep the invoice in case your clients have questions.
5. Ownership & Rights
📍Define the ownership of intellectual property rights
📍In most cases the ownership will belong to your clients since they pay for your job
📍Remember to ask your client whether you are able to be credited for your work & place the work in your portfolio
📍Define the ownership of intellectual property rights
📍In most cases the ownership will belong to your clients since they pay for your job
📍Remember to ask your client whether you are able to be credited for your work & place the work in your portfolio
6. Relationship agreement
📍Clarify that you are functioning as an independent contractor, not an in-house employee.
📍Define the relationship to minimize scope creep and keep the customer from perceiving you as a paid employee instead of a partner.
📍Clarify that you are functioning as an independent contractor, not an in-house employee.
📍Define the relationship to minimize scope creep and keep the customer from perceiving you as a paid employee instead of a partner.
7. Limitation of liability
You can put a cap on the amount of damages you are willing to pay if there is a breach of contract.
You can put a cap on the amount of damages you are willing to pay if there is a breach of contract.
8. The Indemnity
📍This clause protects the indemnified party from losses or third-party claims related to the contract.
📍In a mutual indemnification, both parties will be reimbursed if the other party breaches the contract.
📍This clause protects the indemnified party from losses or third-party claims related to the contract.
📍In a mutual indemnification, both parties will be reimbursed if the other party breaches the contract.
9. Termination
📍What scenarios can be considered termination: Suggest to add the cause when your client fails to make the payment within certain days from the due date.
📍When notice should be given: You may request 10 days prior written notice to be given prior termination.
📍What scenarios can be considered termination: Suggest to add the cause when your client fails to make the payment within certain days from the due date.
📍When notice should be given: You may request 10 days prior written notice to be given prior termination.
That's a wrap!
If you find this thread helpful:
1. Please follow me @heymirako for more of these
2. RT the tweet below & share this thread with your audience
If you find this thread helpful:
1. Please follow me @heymirako for more of these
2. RT the tweet below & share this thread with your audience
https://twitter.com/heymirako/status/1574423752288661505?s=20&t=Lt4jP3GaPmIwJX1vsaM1rQ
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