The Handshake deal

I am still amazed at how many companies are still engaging in work without a proper contract on the table.  In today’s world a handshake means NOTHING, especially when it comes to your money and the money you have to pay your specialist(s).  It is absolutely absurd to do any work without some form of documentation on the books.  If you are talking to the brother of the cousin who is the best friend of the client, chances are you aren’t talking to the person who controls the money.   Most corporate clients will not stiff you on an agreement but you may incur some extra charges called expenses that they will not pay.  Get it in writing

A Contract basically states that the company agrees to a certain service you promise to provide in addition to the expenses you ask for in order to complete the job.  In the contract there is a section that details the amount of people, the hours as well as the cost per unit.

The expense portion explains those auxillery costs that you need for the detail.  Those expenses could include but are limited to; Meals, parking, lodging, travel, and possibly equipment etc.  This section guarantees that the client is agreeing to reimburse you these funds that you spend from your own coffers.  With it you are covered, without it you will be dead and “stinkin”.

The perfect contract is hard to come by, because the legal department from just about every client will add and take away portions as they see fit.  I suggest that you get with an Attorney an have a template drafted.  Here’s some major advice, you’ll need to see if you can procure a copy of a security contract from a colleague so that pertinent language, like acts of terrorism is included.  Let’s be honest, no one can guarantee the absolute safety of anyone, but you need to include those things that you have no control over. I plan to do a webinar on contracts in the near future.  Once the contract is agreed upon, get a signed [executed] copy from the client.  Without a signature, you have a well drafted document that you’ve wasted paper on. 

Stop doing these handshake deals and “hook up” deals.  If you are in business act like it and cover yourself in the end

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