Different tools are available in the market developed specifically to handle contracts and payments, and Bonsai is one of them. Running a freelance venture needs all-around protection—from legal aspects, terms of payment, and issuing of invoices. Hello, Bonsai is an online contracts and payments system, designed to handle complex legal issues. This post will focus the tool’s salient features. It will also review more on the contract aspect of the tool plus a bit of payment.
Is a contract really necessary to run a freelance business? Definitely, it is since contracts save you business-related stress and headaches brought by conflicts. It also protects you from fraudulent clients who are up to milking your hard work at no cost. You end up using a lot of resources and time to get what is rightfully yours. A contract protects you and your client’s interest. It also provides the basis for legal alternative redress if a conflict arises. To enjoy benefits of a freelance contract, you first need to create a good one that is to be signed by both parties to make it legally binding. Bonsai has made it easy for you by creating a freelance contract template if you don’t know how to prepare one. You need to, however, pick a template that will work well with the kind of service you offer. Take close considerations on the “dos and don’ts” as you evaluate a contract template for your freelance venture.
Tips for a good contract template
• State clearly what you will do and what you won’t do in your freelance work to prevent misinterpretations that could easily lead to costly conflict
• Time frames should be very clear. Don’t take this for granted since it will determine the time taken by the client to review it, and when you’ll get paid
• Be clear on intellectual property ownership. Intellectual property is very important to a freelance livelihood, therefore, state clearly what happens to the IP after payment. Also, state whether they are entitled to ownership of the final product or anything used to produce the product
• Be clear on payments. A good contract template addresses payment clearly. This includes the charges for the service—hourly or fixed. This ensures that you and your client are comfortable with the payment agreement
• State the termination terms. At one point, either you or the client may want to terminate the freelance contract. You need to clarify the process and requirements to end the working relationship without any conflict
Hello, Bonsai freelance tool enables you to create e-sign contracts from vetted templates. This gives you a peaceful environment to focus on productivity. The tool allows you to get live payment notifications anytime anywhere. The tool is responsive and can be accessed via any device such as mobile phones, tablets, laptops, and desktops.
Bonsai freelance contracts are written specifically for developers, photographers, designers, videographers, and writers. The contracts are legitimate and safe because lawyers are involved in writing them. The contracts are customizable to fit in the running of your business. It also gives you important tips on contract customizations to help you make the right choice.
Bonsai has revolutionized contract signing whereby your clients can e-sign the contract online. It takes less than two minutes to open and sign the contract email. Bonsai gives you an option to create a contract even after the proposal is accepted. The tool automatically sets a legally binding contract that meets your financial needs. You have an option to change country or state on the bonded or underlined areas of the contract, and the contract will also change.
The payment terms section of the contract gives you different pay schedules to choose from. You can settle for weekly, monthly, in milestones, or flat fees. This gives you flexibility since you don’t have to consult with a lawyer every time you want to change the contract.
You can set customized invoices to follow the payment terms anytime you send them. Payment is done with bank transfers, credit cards, or PayPal. What sets Bonsai tool apart from other marketplaces for freelancers, is its simplified guidance of service delivery. It also offers payment by ACH, which isn’t available with other freelancer payment tools. Hello Bonsai has 40,000 freelancers under its platform and is available in the US, UK, Canada, and Australia. You can log time in Bonsai through their website or desktop app. When time is logged, it is going to be synchronized to your project. Bonsai supports every workflow and all sorts of freelancers are protected. Some of the freelancers it protects are developers, writers, photographers, designers, videographers, and consultants.
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