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Thanks for the advice! it clears things up for me. I just…

Thanks for the advice! it...
Thanks for the advice! it clears things up for me. I just submitted a rating but then the window disappeared. Would you be able to look over the contract agreement that I'm using? see attached. Thanks in advance for your help.
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Answered in 2 minutes by:
12/22/2017
ScottyMacEsq
ScottyMacEsq, Attorney
Category: Legal
Satisfied Customers: 18,163
Experience: Licensed Texas General Practice Attorney
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Thank you for using JustAnswer.

Yes. Please give me a few minutes.

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Customer reply replied 7 months ago
Take you're time.

Your questions in red (I assume those are questions asked of me) are about the interest rate and arbitration clause.

The legal maximum interest rate in New York is 16 percent per annum. That's 1.33% a month. I know that's not a lot, but charging higher might incur penalties. I'd put 16% per annum in this spot in your contract.

As far as arbitration goes: it would be the same for New York as it would for Texas. Basically arbitration is an "alternative dispute resolution" from a lawsuit. In other words, it doesn't go to a court and a judge, but rather an arbitration panel that decides who wins the dispute. It's cheaper and easier than going to court, but it's also more risky in that if the arbitration panel says the other side wins, then that's it. There's no appeal that you can file with the appellate court, etc... So there's a risk there, and the trade off is between the cost and speed on one side, and the risk on the other.

As far as the rest of the contract is concerned, it looks like a valid, binding contract and no major issues jump out at me. It appears to be slightly more freelancer friendly (more geared to benefit the freelancer rather than the hiring entity).

Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable.

Please note that I don't get any credit for the time and effort that I spent on this answer unless and until you rate it positively (3 or more stars). Look for the stars on your screen (★★★★★). You may need to scroll left/right/up/down to see these stars, but note that the rating is what closes out this question, so it is necessary that you do so.

Thank you, ***** ***** luck to you!

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Customer reply replied 7 months ago
Great, so helpful to know. What are some ways to make the contract more equal to the hiring entity?

Just in the places where it talks about what the hiring entity gets or the rights that it has, they can mirror the freelancer's rights.

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Customer reply replied 7 months ago
Ok so I could include some more info in the Ownership of the work section where I state what the client gets?

Yes, you could certainly do that.

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Did you have any other questions before you rate this answer?

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Customer reply replied 7 months ago
I have more questions about NDA's later, what to pay attention to and how to read them, would you be the right person to ask? if so, I'll rate this sessions and open a new one later.

Yes, I can certainly assist you with those.

ScottyMacEsq
ScottyMacEsq, Attorney
Category: Legal
Satisfied Customers: 18,163
Experience: Licensed Texas General Practice Attorney
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Customer reply replied 7 months ago
Cool, thanks speak soon
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