A Colorado independent contractor agreement is a document that establishes the terms by which a client hires a contractor to carry out a specified service. The contract will include a description of what the contractor is being hired to do, how much time they will be given to complete the task, what their compensation will be, and when or how the agreement will terminate. Once the contractor and client have both executed the contract, they will be responsible for fulfilling its terms until the services have been provided and compensation paid, or the agreement is terminated.