A virtual assistant is like a personal secretary. They provide customer support, write, answer calls, transcribe, do research, etc. They basically work at home and communicate with their Employer through the Internet or through phone. One method many companies take to maximize the likelihood of having a positive experience in retaining a virtual assistant is by going through a virtual staffing agency. These virtual staffing agencies operate similarly to conventional staffing agencies. When setting up the structure of a virtual assistant business, the owner must decide how he or she will collect the money earned for the services performed.
Traditional Invoicing/Net 30 Days If the virtual assistant does a lot of work for larger corporate clients, she may find that her clients will only do business with her if she extends Net 30 Day terms. With this arrangement, the virtual assistant will issue an invoice at the specified time periods or at the end of a project, whatever is agreed to prior to starting the project.
Traditional Invoicing/Due Upon Receipt Issuing the purchase order or having an agreement where the terms are Due Upon Receipt will help the virtual assistant to get paid much quicker. Just like Net 30 Day terms, the virtual assistant will send an invoice at specified times or at the end of the project and wait for the company to send a check.
Credit Card Payment The virtual assistant can set-up a merchant account and collect payment from the client using a credit card. An invoice will usually still need to be given to the client, but payment can be processed immediately at specified times. The virtual assistant can keep the clients credit card number on file and charge it as soon as a project is completed and the invoice is approved. Credit card payments can also be processed through PayPal without setting-up a merchant account.
Retainer Many virtual assistants collect a retainer from their clients. Often a discount is given when the client agrees to a certain number of hours of work per month charged if it is used or not. Since the client has already paid, they will most likely use the time, however, this is a nice way for the VA to estimate how much he or she will work in a month because the client as already committed to a certain number of hours.
The Oregon Retainer Agreement for Virtual Assistant Services is a legal document that outlines the terms and conditions of the working relationship between a virtual assistant (VA) and their client in the state of Oregon. This agreement serves as a binding contract, solidifying the responsibilities, expectations, and rights of both parties involved, providing a clear framework for efficient collaboration. The key elements covered in an Oregon Retainer Agreement for Virtual Assistant Services typically include the following: 1. Scope of Services: This section outlines the specific tasks and services the virtual assistant will provide to the client. It details the nature of the work to be performed, along with any limitations or exclusions. 2. Retainer Fees: The agreement establishes the financial aspects of the arrangement, including the retainer fee structure, payment terms, and frequency. It may mention the hourly or project-based rates, outlines billing procedures, and describes late payment penalties, if any. 3. Term and Termination: This segment specifies the duration of the agreement, whether it is a fixed term, renewable period, or an ongoing arrangement. It also covers termination conditions, such as notice period requirements, grounds for termination, and any associated penalties. 4. Confidentiality: To ensure the protection of sensitive information, this section emphasizes the parties' commitment to maintaining confidentiality. It typically mentions non-disclosure obligations, restrictions on sharing proprietary knowledge, and security measures to safeguard data. 5. Intellectual Property: If applicable, this clause clarifies ownership rights to intellectual property resulting from the VA's services. It determines whether the client retains exclusive ownership or if there are certain licensing or usage rights granted to the VA. 6. Indemnification: This section addresses liabilities and responsibilities, including indemnification. It outlines the circumstances in which one party agrees to hold the other harmless from any claims, damages, or losses arising from the services provided or conduct during the working relationship. 7. Dispute Resolution: In case of any disagreements or disputes, this clause lays out the preferred resolution methods, such as negotiation, mediation, or arbitration. It may also specify the jurisdiction and venue where legal proceedings would take place. Types of Oregon Retainer Agreement for Virtual Assistant Services: 1. Hourly Retainer Agreement: This agreement structure involves charging the client on an hourly basis for the virtual assistant's services. The terms typically include a specified number of hours per week or month. 2. Project-Based Retainer Agreement: This type of agreement is more suitable for specific, well-defined projects. The retainer fee covers the completion of the project, regardless of the actual hours invested by the VA. 3. Monthly Retainer Agreement: This agreement establishes a fixed fee to be paid on a monthly basis, covering a set number of hours or agreed-upon services. In conclusion, the Oregon Retainer Agreement for Virtual Assistant Services is a comprehensive legal document that establishes the working relationship between a virtual assistant and a client. It outlines the terms, expectations, and responsibilities to ensure a successful partnership.
