When the owner of a business or a property gives the contract to a contractor to provide a certain service, a legal document is drafted which is known as between owner and contractor agreement. The agreement establishes the fact that the owner is availing the service of the contractor and the contractor has the authority to carry certain service on behalf of the owner.
There are various information mentioned in the agreement. These information are as follows:
- The type of contractual service to be carried out by the contractor is to be mentioned in the agreement.
- The effective date of the agreement and the date of commencement of the service of the contractor.
- The process in which the contractor will carry out its service.
- The remuneration amount that the owner will pay to the contractor.
- The process in which the remuneration needs to be paid.
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