An independent contractor agreement is signed between a company and an independent contractor where the latter offers his services or goods in return for payment, but he does not work regularly for the company. An independent contractor can refer to a company, a person or business which specialises in certain services but has its own independence and usually work like a freelancer. In today’s world where outsourcing and downsizing is prevalent in most organisations, independent contractors are more in demand.
The company does not have full control on the work done by independent contractors and must mention clearly that they are working for the company, otherwise technically all the work done by the independent contractors is their own property. The other terms and conditions in the agreement would remain same as any other contract where the term of the agreement, scope of work, funds, deadline, termination details and other conditions are mentioned and signed between the two parties.
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