BIN Digest

So you think you’re a subcontractor right? Well do you have a contract? The problem that seems to be floating around the subcontractor/independent contractor arenas these days is the lack of education when it comes to drafting service contracts. As an independent contractor, you are your own company and if you don’t have contracts that clearly define your scope of work, payment structures, etc. you will eventually be giving away your services and losing your “company” money.

Not only is it important for you to have the proper insurance coverage as a subcontractor, it is important that your risk is managed in other ways as well. Although no contract is guaranteed to be perfect, they can prevent you from having to do extra work, or bending over backwards for clients who constantly change the scope of your project. Once it is in writing, you can be rest assured that you, the employee know exactly what the job entails, and you, the manager know that the contract will not be changed without your approval.

For more information on subcontractor agreements, visit www.ContractEdge.com or you can visit the TechInsurance Small Business Portal for tips and tricks on managing successful projects.