When it comes to the virtual assistant business there are several contracts that you can choose from depending on the types of services being offered. Some virtual assistants would prefer to work short term while some would prefer long term contracts. It all depends on the client’s needs. For instance, if the client is looking for a virtual assistant to be in charge of web design and maintenance then a long term contract would be needed for that kind of task. Administrative services can be paid by the hour.

Here are the three most common contracts that virtual assistants use:

The first is hourly contracts. These are for clients who would need occasional work that they prefer to outsource or services that you need to outsource once because you are short of time or resources. Hourly contracts should clearly state what the hourly rate is, billing increments and the minimum time requirements.

The second contract is the per project contracts. This is used by virtual assistants who are working with clients on a specific project. The contract must clearly state the scope of the work, time estimation to finish the project, estimated costs and the pay terms.

The third is retainer contracts. This is used by virtual assistants who want to establish long term relationships with their clients. The payment is usually done monthly plus there will be a retainer agreement. In this contract, there should be a clear definition of the type of services that should be provided and the number of expected working hours during the duration of the contract. Retainer agreements are one way for virtual assistants to ensure that they have a predictable stream of income. This will also be beneficial to the client since they do not have to compete with other clients and that the virtual assistant will not be too busy to work on the project when it is needed.

With virtual assistant contracts, both virtual assistant and client are happy and secured in case conflicts arise.