Georgia Outsourcing Agreement - Short
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How to fill out Outsourcing Agreement - Short?
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FAQ
Examples of Outsourcing A small company may decide to outsource bookkeeping duties to an accounting firm, as doing so may be cheaper than retaining an in-house accountant. Other companies find outsourcing the functions of human resource departments, such as payroll and health insurance, as beneficial.
Outsourcing can also help to make your business more flexible and agile, able to adapt to changing market conditions and challenges while providing cost savings and service level improvements.
Hear this out loud PauseIn short, an outsourcing contract is a legal document that goes over what work will be handled by the third-party, what expectations you have, what timelines should be achieved, and things of that nature. It basically protects your investment and also dictates how the third-party gets paid.
Hear this out loud PauseOutsourcing agreements should include covenants requiring information security. For example, the supplier should agree to: Keep confidential all information provided by the customer, on behalf of the customer, or as a result of performing services for the customer.
The outsourcing agreement should also cover: The term. ... The outsourced services and level of service by the supplier. ... Pricing and charging. ... The transfer of employees. ... Asset transfers. ... Intellectual property rights. ... Data protection. ... Warranties and liability clauses.
There are three main types of outsourcing contracts that you may want to consider: fixed price, target cost contract, and time and materials contract.
No matter the contract type, a well formed outsourcing agreement should include: Intellectual property rights. Business process. Detailed description of services. Payment schedule. Insurance requirements. Warranties. Contract terms. Service level agreements.