Updated: Sep 23, 2022
When you get a new client you can easily get excited and want to do the contract as fast as possible. Nevertheless, it is good that you take some time to design a document that doesn't have grey areas and will protect you against legal troubles. Words such as doubt ambiguity and confusion need to be removed from the equation and in order to do that some parts are essential. Let’s take a look at these elements:
Description of work and services: This part should be simple and concise. Include in general terms what service you are providing the client.
Payment terms: This refers not only to the level of payment but also to how it should be paid and when the invoices are due. If you want to get paid in crypto this should be established in this part.
Copyrights and results ownership: Freelancers can incorporate here that they can use the created work for their portfolio.
Terms and Termination: This clause allows both parties to extinct the contract. You can specify a fee for terminating the project.
Competitive engagements: How exclusive are the services you are providing? Your client probably doesn't want you to work for the competition. The exclusivity can have a deadline for example after the work is completed.
Non-disclosure and confidentiality: The client list or the business strategy, is information related to your client that must remain private.
Changes and revisions: In order to protect your work it is important to establish a number of changes included in your price or a moment from where changes are not an option anymore.
Indemnity clause: Contains the agreed reimbursement when one of the parties breaks the contract.
General clauses: Legal protections, disclaimers, and other comments may be included in this area.
Party signature: It is possible to do it with click signature systems or with scanned signatures but make sure to do it before starting the project.
Your contract will be your best ally when things get messy. The more specific it is the fewer misunderstandings you will encounter. By making your own contract you can avoid unfairness in the clauses. Each industry can have small variations in the content but if you are a crypto freelancer the ten elements we went through are crucial.
At basenode.io, our mission is to eliminate the gap between traditional accounting and blockchain-based accounting. basenode.io is the easy-to-use accounting solution for digital assets that offers seamless crypto invoicing and portfolio tracking. We provide a self-explanatory user interface with a clean and modern look, that naturally supports your workflow. We support the most popular networks like Bitcoin, Bitcoin Lightning, Ethereum, Binance Smart Chain, Polygon, Ronin Chain and more.
Carmen Rodriguez is the executive assistant at basenode.io and community manager. Before, she worked in educational entrepreneurship for one year. Besides her degree in business administration, she holds a master's in social innovation. You can contact her via LinkedIn.