Material Definitiveeement What Constitutes Defined
Describe the payment terms for the transaction, including the total amount for the service, how much and when the deposit is due and how much and when the final payment is due. Spell out a time line or milestones. Include specific dates for the delivery of parts of the service or the final deadline for the service to be complete.
Specify Time and Amounts of Payments - Entering your hourly rate and projected time for completion, or the total amount of payment for the project may not be enough. Depending on the project's scope, the contract should include: Any portion of fees to be paid upfront. Any fees to be paid at milestones as a project proceeds. Payment for work completed if a client cancels the contract. Late fees if the client doesn't pay on time. Hourly rate for your time due to delays caused by the client or for client's request to perform additional work.