Service Agreement & Terms and Conditions - Formics Tech LLC
1. Overview
Formics Tech LLC provides IT development services and remote outsourcing solutions, including 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
Refer to Schedule 1 for definitions and explanations used throughout this Agreement.
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 outlined in Schedule 1 and on the official Formics Tech LLC website.
- All payments must be made in advance through 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:
- Delay in assigning resources
- Non-acceptance of assignments
- Developer performance issues
7. Indemnification
The Client shall 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
Formics Tech LLC may terminate this agreement immediately if:
- The Client breaches the agreement and fails to remedy within 5 business days.
- The Client becomes insolvent.
Termination Notice Period:
- Less than 6 months of employment: 30 days’ notice
- More than 6 months: 60 days’ notice
Trial Period Clause:
- The Client may evaluate developers on a trial basis (minimum 1 hour, up to 10 days) and terminate without notice within that time.
- 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.
Let me know if you’d like this as a PDF, or want to fill in specific details like state, client name, or address.
#Schedule 1 – Fee Structure
Billing & Payment
- 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 the suspension may result in termination
