Agent and Broker

Team LawDocs

Contract Agreement and Out sourcing Agreement simultaneously

An independent contractor agreement is a written contract between two parties for specific service or a project. One person or a company hiring another to help on short term task. The document regarding as such clearly spells out why the party being hired is not an employee for legal and tax purpose.

Out sourcing contract on the other hand is an agreement formed between a company and service provider, wherein a service provider promises to deliver specified service e.g. data processing, software development that utilizes its own staff and equipments typically working from their own location.

Advantages and Disadvantages of an Out sourcing Contract

One should consider the pros and cons of out sourcing before deciding to contract out any activity or business operations:-

Advantages,
- Improved focus on core business activities
- Increased efficiency
- Cost minimization
- Increased research
- Greater competitive advantage
Disadvantages
- Delayed service delivery
- Risk of confidentiality and security
- Lack of flexibility to accommodate change
- Instability of going of business

It is a contract between a consultant and a business or individual that is retaining certain services to the consultant. Following are the thing which is must to be include for a good consulting agreement.

Description of service:

Your consulting agreement needs to tell all potential clients what service you will provide and not provide for their businesses.

Terms of payment
Dispute resolution and mediation clause
Limitation of liability prescribed clearly
Termination clause
Timing
Expenses for customization etc.
Software Consultant Agreement

Software consultant advise client on how to configure large applications, right codes, fix bugs etc. They customize software system for specific tasks or industries. Software consultants also analyze companies IT package to determined how a particular software can make process more efficient and effective.

Out sourcing services with its merits and limitations

Out sourcing is a common practice of contracting out business function and processes to third party providers. This out sourcing can also help to make your business more flexible and agile, able to adopt to changing market conditions, challenges, customer prefers while providing cost saving and the service level improvements.

These out sourcing services are often grouped into 5 service categories:-

Professional process
1. Manufacturing
1. Specific process
1. Operational process
1. Project process out sourcing.

Comments

Registration of LLP and Laws

Name – Shweta Pandit College - National Law School Of India University, Bangalore. Introduction- LLP(Limited Liability Partnership) is a limited liability company, you will find the characteristics of both a corporation and a partnership in this form of a company. LLP came into effect in 2008 when the Limited Liability Partnership Act was passed in India.. LLP- Limited Liability Partnership, is a partnership where partners have limited liability and are responsible only for the loss/damage created by themselves and not by any of their partner or partners. Partners in LLP have a fair share of say in the workings of the business. Registration of LLP- It is a long process to register a LLP, the few steps involved in the process are discussed as follows: First step is to get the DSC, which is a Digital Signature Certificate from the government agencies such as E-Mudra, NSDL, IDRBT Certifying Authority, National Informatics Center, CDAC and each agency has its own costs of providing ser

Attestation , Revocation, Alteration and Revival of Wills

Author: Amit Sheoran, Symbiosis Law School, Nagpur People were worried about their lives after the corona pandemic. Because in Corona, no one was aware that anything could happen at any time. That is why they start thinking that if they die, then what will happen with their property and, as a result, they start making plans. A question arises in our mind after hearing the word will. What is will? It is defined under 2(h) of the Indian Succession Act, 1925. A will is a testamentary document by which a person bequeaths his property in the name of any other person. It will be effective after the death of the testator. The property will devolve on the person in whose favour it is bequeathed after the death of the testator. A will can be changed, revoked, or altered at any point of time after it is made. A will can be written more than once.All wills are revocable at any time during the life of the person and are confidential documents. A will can be attested, revoked, altered, and also r

Indian Depository Receipts: Requisites and Benefits

Yash Miniyar Maharashtra National Law University, Aurangabad A. INTRODUCTION Depository Receipts are a form of transferable instruments, which aid in the flow of general trade in a stock exchange at a given time. They are classified as financial securities in the form of equity that are issued by listed companies. The depository receipt is a form of certificate which denotes the valid holding of the security or shares of a given company. One of the most recognised and busiest forms of depository receipts in the world is the American Depository Receipts, which allows in trading of shares or securities of foreign companies. These receipts act as a form of investment for potential investors in order to diversify their assets and hold shares of their desired companies. This not only allows the economic diversification but also the geographic diversification. These depositories act as mediums to curb the hindrances or the obstacles which prevented people from making foreign investments,

LawDocs Blogs

Search This Blog