What is a consultancy agreement
A consultancy agreement refers to a legal document that is typically established between two or more parties. The parties involved include a company and a consultancy agency, which can be either a company or an individual. The consultancy agreement’s fundamental aim is to clarify the duties and responsibilities of the involved parties.
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Consultancy agreement explained
The consultancy agreement is a legal document that is established between a business entity and a consultancy agency, when one party seeks the assistance and guidance of the other. A consultancy agreement is a type of legal document that allows all parties engaged in a project to be clear of what the agreement stipulates. This type of agreement can be either short-term or long-term, thus it is important that the timeframe of the agreement is specified within this document.
By setting up a consultancy agreement, the company is able to specify the duties the consultants will be anticipated to undertake. Moreover, it provides the consultants with an explicit document describing the services which they are expected to deliver. The objective of a consultancy agreement is to operate as a foundation and guide by which consultants and corporations can refer to in order to ensure that the clauses laid out are adhered to.
There are a number of legal documents involved when coming into a business venture with another party. Thus it is recommended that individuals and companies seek the assistance and guidance of a professional consultancy firm. Professional consultants will ensure that the legal documents are compiled and filed to the relevant authorities in the most effective and timely manner.