Service Agreement & Terms and Conditions
Formics Tech LLC
1. Overview
Formics Tech LLC provides IT development services and remote outsourcing solutions, including the placement of remote contractors.
This Agreement governs the terms under which services are provided to the Client.
By engaging Formics Tech LLC—whether by requesting services, hiring a developer, or making payment—the Client agrees to be bound by the terms outlined herein.
2. Definitions
Definitions and explanations used throughout this Agreement are set out in Schedule 1.
3. Nature of Engagement
- This Agreement does not constitute an employment relationship between the Client and Formics Tech LLC or its developers.
- The Client is responsible for selecting the appropriate Formics Tech LLC resource.
- Developers are independent contractors, engaged in accordance with local laws and Formics Tech LLC’s internal policies.
- No Formics Tech LLC representative is authorized to bind the company to agreements on behalf of the Client.
4. Term
This Agreement operates on a monthly basis, starting from a mutually agreed commencement date and continuing until terminated as outlined in Clause 12.
5. Payment Terms
- Payment terms are detailed in Schedule 1 and on the official Formics Tech LLC website.
- All payments must be made in advance using accepted payment methods.
6. Limitation of Liability
Formics Tech LLC shall not be liable for any direct or indirect loss, damage, or expense incurred by the Client, including but not limited to:
- Delays in assigning resources
- Non-acceptance of assignments
- Developer performance issues
7. Indemnification
The Client agrees to indemnify Formics Tech LLC against claims arising from:
- Injuries to developers while performing duties
- Property damage caused during services
8. Restrictions
- A penalty of USD 15,000 is payable to both Formics Tech LLC and the concerned developer if the Client directly hires the developer.
- For 12 months post-engagement, the Client may not offer employment or assignments to any developer who has worked with them, without prior written consent from Formics Tech LLC.
- Communication about pricing or direct engagement without consent is strictly prohibited.
9. Intellectual Property
- All work products and deliverables created by Formics Tech LLC developers are the property of the Client.
- Intellectual property rights are fully transferred upon completion and payment.
10. Privacy & Confidentiality
- Personal and sensitive information will be handled in compliance with applicable privacy laws.
- Confidential Information must not be disclosed unless required by law.
- Formics Tech LLC and its developers agree not to share or misuse any confidential information obtained during the engagement.
11. Warranties
Both parties warrant that:
- There are no ongoing or pending legal claims that could impact this Agreement.
12. Termination
By Formics Tech LLC:
The Agreement may be terminated immediately if:
- The Client breaches the agreement and fails to remedy within 5 business days.
- The Client becomes insolvent.
Notice Periods:
- Less than 6 months of employment → 30 days’ notice
- More than 6 months of employment → 60 days’ notice
Trial Period Clause:
- The Client may evaluate developers on a trial basis (minimum 1 hour, up to 10 days).
- The Client may terminate without notice within the trial period.
Upon termination, the Client must return all Confidential Information to Formics Tech LLC.
13. Acceptance
The Client acknowledges acceptance of this Agreement by:
- Requesting or receiving services
- Hiring any developer
- Making any payment under Schedule 1
14. Duty of Confidentiality
Formics Tech LLC and its developers acknowledge access to confidential Client information during the engagement and agree to strict non-disclosure.
15. Holidays
- Developers may request public holidays off based on their local calendar, subject to approval by Formics Tech LLC.
Schedule 1 – Fee Structure
Billing & Payment
- Methods: EFT, Credit Card, Direct Debit
- Types: Prepaid or Monthly
- Timing: Payments must be made in advance
Overtime
- Any applicable overtime will be billed in the next monthly invoice.
Refund Policy
- Refunds may be requested and will be processed within 2 weeks.
Insufficient Funds
If payments fall overdue or balance is negative:
- Services will be suspended for 5 business days
- Failure to clear dues during suspension may result in termination
