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You may want to have an attorney review and make suggestions on a template of your business contract. An attorney can pinpoint issues for your particular business that you may need to include in the agreement. You can use a business agreement template and modify it to fit your needs, rather than writing the agreement from scratch.
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.