How To Create An Agreement With High-Paying Clients

If you’re enrolling prospective customers to be clients who pay a premium, The final first step is signing a contract and the first payment.

The definition I use for high-paying customers is that they are willing to pay between at least five or six figures in exchange for services. However, the agreement opinions apply to deals with a lower value.

A document of agreement–no need to include the word contract–should sign by the customer. I do not have an attorney’s qualifications, and I do not offer counsel on legal matters in this column. However, I study legal books about the topic, employ attorneys to help me create those documents, and speak with several lawyers to write this column. (If you believe my attorneys require me to include that disclaimer, then you could be right.)

With the disclaimer out the way, let’s look at some of the agreements document elements in line with educational and business-related development. Here’s a checklist of deal points you should be aware of when negotiating agreements with clients with high-paying contracts:

Period In The agreement. What period is covered? There must be a starting and an end date. If it’s an annual retainer, you must have the confidence to renew an agreement each year.

The Parties to The Agreement. What are the official names and addresses of the professional offering the service and the customer? Are the official names for the companies and not only their DBAs (doing business under)?

A financial Consideration Of The Agreement. A recap of the charges and hourly rates, how expenses are managed, and payment alternatives (check or credit card PayPal Square, Check, or any other method).

The Scope of the Agreement. This is the outline of what you’ll do and beyond the scope. It is essential to have a consensus of minds. It is not a good idea to doubt what the client is expecting.

Define Confidential Information. “Confidential Information” includes all information, whether written or oral, that is disclosed or made public either directly or indirectly by any communication method or observation.

Confidentiality obligations. Terms regarding holding certain information in confidence.

Non-Use of Private Information. Terms regarding how confidential information should be used and not used.

Force Majeure. Obligations shall be extended for a period equal to a period of forces greater than (forces beyond the control of the professional which hinder the professional from fulfilling his obligations). In most cases, this could be conflicts and “acts caused by God” like tornadoes and earthquakes, however, they may include epidemics.

The law that governs. Consider asking for the power to do whatever it takes to keep the customer happy. If they aren’t satisfied with your service, ask for their feedback to have honest discussions about making them happy. Whatever the location where the client lives, the agreement must be subject to the laws in your state (you don’t need to defend yourself outside of state due to the cost of lost time as well as expenses for travel). Think about a clause such as this: In the event of a dispute arising concerning this agreement, the professional and client will attempt to settle the disagreement through collaboration, and then via mediation or, if that fails, the arbitration must be binding and private.

Signatures in HTML0. This does not necessarily traditionally require managing, using a quill pen on parchment. There are innovative ways to ease the burden for the potential customer to sign up with email.

Bottom line: the transaction isn’t done until there is a meeting of minds and the money is transferred. Hoping for a happy marriage, however, you must include a clause in the contract if there is a need for divorce. If you require assistance from an expert to resolve the issue, then the assistance of professional lawyers must be sought.

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Adam Collins
Adam writes about technology, business and economics. With master's degree in Economics, he's presented six papers in international conferences. As a solivagant in the constant state of fernweh, curiosity is the main weapon in his arsenal.

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