Essential Elements of a Solid Agency Contract

Hey there! After running an agency for 7+ years, here’s what I’ve learned about contracts (the hard way, lol). These are the key things you absolutely need in your agreements:

1. Project Scope & Deliverables

Super detailed breakdown of what you’re building
Features list (be specific!)
What’s NOT included (saves headaches later)
Any assumptions you’re making

2. Timeline & Milestones

Start/end dates
Major milestone dates
Review periods
What happens if dates slip

3. Payment Terms

Payment schedule
Late payment consequences
Currency & payment methods
Kill fee if project ends early

4. Change Management

How scope changes are handled
Who can request changes
Impact on timeline/cost
Change request process

5. IP Rights & Ownership

Who owns the final product
License terms if applicable
Code ownership
Asset ownership

6. Communication

Points of contact
Meeting frequency
Response time expectations
Status report format

7. Testing & Acceptance

Acceptance criteria
Testing process
Bug fix policy
Final sign-off process

8. Confidentiality

NDA terms
Data handling
Team access restrictions
Client info protection

9. Exit Clauses

Termination conditions
Notice periods
Deliverable handover
Final payment terms

Pro tip: get a lawyer to review your first contract template. It’s worth the $$, trust me. At 500K Agency, we learned this stuff through trial and error, but you don’t have to!

Remember: contracts protect both sides. They’re not just about covering your butt - they help create clear expectations and better client relationships.

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