A flat fee agreement is a final arrangement between two parties that outlines specific terms and conditions. Typically, this type of agreement is used in legal or business transactions, and it can often be beneficial for both parties involved. For example, when entering into a contract or buying a house, having a flat fee structure can allow each party to clearly understand the financial commitments they will be making.
Additionally, by reducing the need for negotiation around pricing or other terms, the chances of disputes or issues down the road are minimized.
Below is a list of common sections included in Flat Fee Agreements. These sections are linked to the below sample agreement for you to explore.
The purpose of this letter (the “Agreement”) is to confirm the engagement of Separation Degrees - One, Inc. (“SD”) by Vet Online Supply, LLC (“Client”) commencing on March 1, 2015 to provide design, technical development and interactive media services, such as planning, buying, placement and reporting (the “Services”) as outlined below.
Section 1. Services, Team and Tools . SD is being contracted with to provide Client with the following Services: 1) interactive design compilations and technical development; 2) on-going maintenance of the technical platform developed by SD; 3) planning and analytical monitoring services; 4) creation of interactive advertising solutions to cover but not be limited to: affiliate program set-up and management, paid search program set-up and management, interactive advertorial, sponsored content and network placement buys technical integration into leading social media platforms.
Section 2. Proposed Term and Technical Development, including Fees . The Agreement is a flat fee Agreement in the amount of Fifteen Thousand Dollars ($15,000, nonrefundable, and payable upon signing and shall cover overall optimization/modification of the existing website running on the os commerce platform for increased sales objectives, even further defined as: (a) cosmetic and technical optimization of the existing public facing website, including required copy-editing, a refined “consumer funnel” and enhanced account management features; (b) technical modification and content creation for search engine optimization; (c) technical integration into the social networks of Facebook, Google+, Twitter, Pinterest and Instagram; (d) management of the integration and ongoing selling into the shopping networks for Amazon, eBay and Buy.com; and on-going maintenance of a-c above.
Section 3. Expenses . In addition to the compensation described in Section 2 above, Client agrees to promptly reimburse SD, upon request from time to time, not more than monthly, for all reasonable out-of-pocket expenses (travel, lodging, meals, printing, etc.) SD incurred and that Client APPROVES IN ADVANCE, and all other expenses shall be the responsibility of the party incurring such expenses.
Section 4. Payment of Fees and Expenses . Payment for Services will be made in consideration of services rendered and fees will be paid in advance of such services and due and payable upon execution of the Agreement. Should the amount payable hereunder totaling $15,000 remain unpaid for a period of ninety (90) days from the date hereof, then SD shall have the option to take said fees in the form of shares of common stock of client at $0.10 per share at any time thereafter, at their sole election until such time as fees are paid. If any Expenses have been incurred, payment will be due within 5 days of the submission of such expenses, which will be turned in at the end of the month of which they were incurred.