Billing Agreement Complete Guidance
Billing Agreement is the written contract between clients and providers. Such an agreement is usually made and arranged when there is an agreed transaction between both parties. However, there are different kinds of agreement types, depending on the nature and the arrangement.
Different Types of Agreement
So, what are the different types of the Billing Agreement that is available out there?
- Hourly agreement. This agreement is one of the most common types. This will bill clients for the worked hours and the total expenses based on the fee. The schedules and expenses should be assigned
- Flat fee agreement. This is used to create a bill for a client for a series of bill or a set bill amount.
- Task based agreement. This one is almost the same as the hourly type, but it depends on the task. Usually, each task will have its own code that should be entered to gain the total outcome
Creating the Agreement
There are several services that allow you to create your own billing contract – provided that you are the client. Services like PayPal have their own sections for billing contract creation. But if you have a business and you need a specific contract or agreement for the billing, it would be wise if you find the right templates for your needs.
However, in the event that you need to create the agreement, here are the things that you can do:
- Whatever service you use, you can log into the portal
- Choose the billing section and the provider you want
- In the agreement information, choose Start the Agreement
- Log into the page
- Choose the payment method suitable for your needs
- It’s done. Your agreement is already set
If you have done this step, it means that you can also cancel an agreement. How to cancel it?
- Go to the Preapproved Payments
- Make sure that you choose the right Merchant link
- And then choose Cancel
- When there is a prompt about the confirmation, do it
- Your agreement has been canceled
Creating the billing contract as a client is easier and less complicated than when you are the provider or owner of a business. If you have a business, then you need to choose the right templates – as it was mentioned before.
It’s a good thing that there are several providers or websites that can help you with this. Not only they can provide the templates, but you can also make changes to them. You can check our collections of the Billing Agreement template that you need.