Contractor agreement is a contract between a company and a contractor hired by them. A contractor performs specific project/tasks. It defines the overall terms and conditions regarding the work undertaken by the contractor as well as their role, duties, and obligations. The agreement serves as a legal document in the event of any disputes between the company and contractor.
Major elements of the Contractor Agreement are as under:
Safety and Security Regulations of the Company: Contractor must comply with safety and security regulations applicable to the company.
Payment of Taxes and Notifications to Tax Authorities: Contractor must pay the applicable taxes wherever required and should follow the other necessary tax compliance.