IMPROVING YOUR CONTRACTOR AGREEMENTS

摘要

Your company might need to hire contractors with specialized expertise or credentials, either as a onetime engagement or on an ongoing basis. Here are eight recommendations that can help you ensure your contractors perform their work in a defined, cost-effective, and protective manner. Understand your basic goals. It's important to have a written agreement that describes the scope of services, fees, insurance requirements, and indemnification obligations. Such an agreement gives you greater assurance that the contractor will perform the stated work as and when needed, the fees are appropriate, and you'll be able to recover damages if the contractor is negligent or fails to perform. Beyond new contracts, you should evaluate existing contractual relationships with contractors to confirm appropriate protections are in writing and updated as needed.