Independent Contractor Agreement
About Independent Contractor Agreement
Hiring independent contractors is one of the most common legal tasks for startups. Yet there’s still no go-to standard template, unlike the YC SAFE for early-stage financing, for example.
So we built one. And it’s not just a Word doc (though you can download it if you want).
With Skala, you can fill out the agreement online, get tips on key terms, share it with your contractor to collect their info and signature, and store everything in one place.
Definition of Services
The agreement starts with a clear definition of the services the contractor will provide.
Service Fee
Parties can choose between a monthly, hourly, or one-time fixed fee — whatever fits your arrangement.
Payment Terms
The contractor must issue invoices to get paid. Payment is due within 10 business days, unless the parties agree otherwise.
Assignment of IP
Any intellectual property (IP) created during the engagement belongs to the client.
Quality Standard
Services must be delivered professionally and meet industry standards. It’s broad on purpose — better than leaving quality undefined.
Term and Termination
Default term is 12 months, but the parties can adjust it. What’s important is that either party can terminate with 5 days’ written notice.
Governing Law
Parties can choose between New York, United Kingdom, Singapore, or UAE law. That said, parties are free to select any other applicable jurisdiction. While we can’t guarantee enforceability in every country, the templates is designed to hold up under the laws of major legal systems. It’s generally recommended to choose the law of the jurisdiction most closely connected to the parties’ shared business.
Dispute Resolution
There is where we couldn’t settle on a single default mechanism for dispute resolution, so we left the choice to the parties: arbitration or state court litigation. Arbitration offers privacy and can be more efficient, but it tends to be more expensive. To balance this, the losing party under this template is required to cover all arbitration costs. State court litigation, on the other hand, is generally simpler and more cost-effective, making it a more common choice for many businesses, though it lacks the confidentiality of arbitration.
One document. Countless deals.
The FAST FAQ
The exercise price of the shares under the FAST agreement will be determined at the time of issuance and will be included in the applicable Stock Purchase Agreement.
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