Are you tired of the many regulations you have to contend with as a small business owner?
Dealing with laws including the Code of Federal Regulations (CFR), and the Federal Acquisition Regulations (FAR), can be a pain. Unfortunately if you’re living in New York, it looks like one more rule will be added to the many frustrating regulations already in place. Readers I present to you the Freelance Isn’t Free Act…..or for short FIFA (By the way, this has absolutely nothing to do with fútbol/football).
Sucks to be you!
But in all honesty, with another rule in place, we at Global Diversity News will help acclimate you to the basics with the help of the good people from the Entrepreneur.
For starters, if a business hires a freelancer for $800 or more worth of work over six months (for either one project or a cumulative series of projects), a written agreement must be put in place. The term “freelancer” covers an independent contractor or any other worker not in a traditional employee-employer relationship.
Some of the key items that must be included in the contract include:
- The name and address of both the employer and freelancer/independent contractor
- An itemized list of all the services to be performed by the freelancer/contractor, with a value attributed to those services
- Right to prompt and full payment. This is stressed by the agreement on a specific pay date. The agreement may also be for payment of services within 30 days of completing the job.
To learn more about the new law please visit https://www.freelancinggig.com/blog/2016/11/28/what-is-the-freelance-isnt-free-act-passed-by-new-york-city/
P.S. – If you are a business owner/employer review your existing contracts, consult with attorneys and visit the New York City Office of Labor Standards for more information about the new law before it goes into effect.