August 11, 2020

Easy Contracts and SOWs / Work Orders in Liquid

Liquid separates your vendor contracts from the related SOWs / Work Orders, allowing you to quickly start new projects at any time.

Easy Contracts and SOWs / Work Orders in Liquid

Liquid News Compliance Freelancer Management Human Resources Finance and Accounting

Creating contracts and statements of work in Liquid couldn’t be easier. Once a vendor has signed a Master Services Agreement (MSA), along with any other onboarding documentation like confidentiality agreements and W-9s, all you need for future projects is a Statement of Work (SOW) / Work Order (WO) to get started. Using an MSA simplifies contract negotiations, saving your company time and money.

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Contracts and MSAs

Within Liquid, you can use your own custom agreement or our contract template to establish a contractual agreement with a new or existing vendor. Once the vendor has completed your onboarding process in Liquid, you can quickly launch new projects. For each new project, create an SOW that includes all the project-specific details such as deliverables, schedule, and rates. Projects are ready to start once the SOW has been agreed to by the other party.

Benefits of Separating MSAs from SOWs or Work Orders

By separating out from the MSA the project-specific details into individual SOWs or Work Orders (WOs), you no longer have to renegotiate the overall engagement each time you want to start a project. In Liquid’s intuitive Work Order creation form you will quickly send off the project details — including milestones, deliverables, fee schedule, rates, and more — letting you rapidly kick-off projects. All Work Orders are tied to your MSA so the overall terms of your engagement — payment terms, confidentiality, etc — automatically apply to every Work Order. Moreover, all invoices in Liquid are tied to Work Orders so you’ll reduce your risk of paying an invoice outside of the scope of work. 

Liquid is your secret weapon in scaling your workforce. With executed contracts, documents, work orders, and invoices centrally stored, your projects can proceed effortlessly.

Ready to start with more intuitive vendor and freelancer contracting?

Sign-up to try Liquid today!

Category: Liquid News Compliance Freelancer Management Human Resources Finance and Accounting

Updated: January 3, 2021

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