Term sheet highlighting key terms to Connext agreements
PRICING TERM SHEETFOR REMOTE STAFFING AGREEMENTS WITH CONNEXT, LLC
This pricing term sheet outlines agreement expectations for remote staffing agreements with Connext, LLC. The purpose of this term sheet is to align around agreement expectations and suitable terms before continuing the business relationship. This term sheet does not constitute as any sort of formal agreement. These terms are consistent with all other companies providing global employer of record, international professional employer organization, or remote staff augmentation services.
Critical Terms
Agreement Term: Month to Month with 30-day termination.
Payment Due Date: within 15 days of receipt of invoice.
Indemnification and Liability: Connext will not indemnify against work performed by the employees. Employees are selected and trained by client, therefore Connext cannot be held liable. Connext can be held liable for and will indemnify against the services being performed, which are: recruiting, payroll, human resources, IT support, and facilities.
Insurance: Connext shall keep and maintain, at its expense:
Professional liability insurance written with a company rated at least A-VIII by AM Best. Commercial General Liability Insurance to have a combined single limit of not less than $1,000,000 per occurrence, $1,000,000 annual aggregate.
Data Breach and Privacy Security liability insurance written with a company rated at least A-VIII by AM Best. Commercial General Liability Insurance to have a combined single limit of not less than $1,000,000 per occurrence, $1,000,000 annual aggregate.
Pricing: Connext shall provide Customer with monthly blocks of services hours consisting of approximately 160 service hours (with each 160 hours being a “Block”).
Certain Customer tasks require Connext employees with different skill levels, some of which are currently unknown.
When Connext adds Blocks of service hours, Connext shall provide a quote for each Block which shall be valid until January 1 of the following year.
For each new Block, there will be an initial, onetime start-up charge of $600 for the Block (the “Start-Up Charge”). The Start-Up Charge shall not be reassessed by Connext due to changes in Connext personnel.