Here at The Contract Shop®, it shouldn’t come across as a shock that we usually recommend having contracts. Contracts, after all, are a useful tool to protect different working and even personal relationships. But when do you need a contract? There’s an F word for that…
The 5 Fs
There are generally five situations in which you’ll want a contract:
- Financial - Is there any kind of money at stake? This kind of contract defines what kind of money is involved, who is paying, and how/when.
- Familial/Friendly - Will you be upset if stuff goes south? This kind of contract protects feelings/relationships by clearly stating what's expected.
- ‘Ferrals - Are people referring you through affiliates or other programs? This helps protect you and also makes it clear who they can refer you out to, when, how, etc.
- Fabulous - Do you want to have a profesh AF working relationship? This kind of contract makes it a really clear, professional working relationship.
- Fiesty/Fiends - Worried things could go south? Worried someone will be a difficult client or steal your stuff? This kind of contract will protect your intellectual property and make it easier for you to end a sticky sitch.
We dig deeper into the 5 Fs in this video — and help you identify when you’ll want a contract to CYA.
Not sure what kind of contract you need to cover one of the 5 Fs?
Of course, once you decide it’s time to actually get a contract, the next question is: What kind of contract?? Don’t sweat it. We have a quiz that can help you identify the contract you need — and then you can shop our contract templates to find the perfect match!