1. Home »
  2. Employment »
  3. Independent Contractor »
  4. Consulting »
  5. Management

Management Consulting Agreement Template

Fill Now Click to fill, edit and sign this form now!

management consulting agreement is a contract that details how a management consultant will provide their services to a company. The document is prepared before the two parties begin working together to define the consultant’s compensation, the duration of their services, and the parties’ responsibilities. A consulting agreement ensures that both parties are familiar with their relationship to each other, minimizing potential disagreements and confusion down the road.

Contents

What is Management Consulting?

Management consulting involves advising companies on how to improve their effectiveness, performance, or structure. The consultant will work with clients, often the higher-level employees of a company, to help them integrate optimal practices and strategies into their business. Consultants typically focus on a particular industry and work with clients in that sector.

What do Management Consultants do?

Management consultants provide a range of services when working with clients, including:

  • Skill-training
  • Operations analysis
  • Technology implementation
  • Strategy development
  • Providing methodology
  • Problem-solving
  • Streamlining workflows
  • Identifying inefficiencies

How are Management Consultants compensated?

Consultants may be paid an hourly rate, a fixed one-time fee, or by commission, depending on the agreement terms. The payment frequency may be on a weekly or monthly basis or upon completion of their services.


Frequently Asked Questions

What is a retainer?

A retainer is a payment made by the client for future consulting services. Consultants may impose a retainer, which may be refundable or non-refundable, as a condition for working with clients.

What is a contingency fee?

A contingency fee is a fee that the client must pay upon a particular event; for example, if a consultant implements cost reduction measures into a company and their changes meet the projected targets.

Contingency fees are optional and are intended to encourage consultants to achieve the client’s desired results.

How are liabilities handled between a consultant and a client?

By signing the agreement, consultants acknowledge that they must hold the client harmless for any liabilities arising from their actions.