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How to cut off point in the Consulting Agreement

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Hello and welcome to the ninth episode of our podcast: Smart Consulting Sourcing, THE podcast about Consulting Procurement. My name is Hlne and Ill be your host today. Each week Ill give you the keys to better use, manage and source consulting services. In this ninth episode, Ill explain how to negotiate a consulting agreement Last week I explained how to select the right consultant. Now you have a proposal that you think answers to your needs: you can start negotiating. Prepare before you negotiate a consulting agreement First thing you need to do is, Prepare. But why prepare exactly? Well, let s go back to the goal of this negotiation. We want to find a satisfying agreement for both parties. right? And How do you buy a satisfying agreement exactly? Well, you need to have leverage and that means gathering as much information as possible on the service, the provider, and the market. What information do you need exactly? The three key parts in consulting is

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What should be included in a consulting agreement?

6 Things a Consultant Needs in a Consulting Agreement Commercial Details. Payment Terms. Intellectual Property. Dispute Resolution. Liability. Termination.

Does a consultant need a contract?

Independent contractor agreements are a written record of the agreement between consultant and client. Not only do they provide legal protection, but they also create a sense of professionalism, encourage communication, and ensure an efficient and streamlined process to complete the project.

How do you structure a consulting deal?

Simple Consulting Agreement The names of all parties involved. The names of the businesses involved. The scope of work. The time frame covered by the agreement. Compensation terms. Clarification about the consultants role as an independent contractor. A confidentiality agreement.

What are the three 3 fundamental rules of consulting?

One of the best or at least most accessible theoretical frameworks I found was Gerald Weinburgers secrets of consulting which presents his three laws: Theres always a problem. Its always a people problem. Never forget theyre paying you by the hour.

How long should a consulting contract be?

A consulting agreement is by nature a short-term arrangement, and while it could be as much as 1-3 years, your consultant is going to want to move to a new opportunity once the project is complete.

What should a consulting agreement include?

Key ingredients of a consulting agreement or contract A consulting contract should offer a detailed description of the duties you will perform and the deliverables you promise the client. The agreement may also explain how much work you will perform at the clients office and how often you will work remotely.

How long should a consulting agreement be?

Forms of consulting agreements vary greatly. They can range from one page to 20 or more pages depending on the subject matter of the agreement and whether other agreements between the parties are included or are incorporated by reference.

How do you end a consulting contract?

Once you have decided to decline or terminate a contract, you should communicate your decision to your client as soon as possible. Be clear, honest, and respectful in your communication. Explain your reasons, without blaming or criticizing the client.

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