Recommendations for Freelancers Working for Foreign Clients
Although there are similarities between working for a local and overseas client, freelancers need to take extra care of how they do business with the latter. There are more considerations to factor in. We provide the following recommendations to help you stay on top of these projects.
Deciding
When working with a foreign client, a freelancer needs to protect themselves by using a contract. This can be drafted according to a template but should be given to an attorney to check. Thereafter, this finalized contract should form the basis of your relationship with all your clients.
Items that must be specified are terms and conditions, due dates, payment method and timeline, and deliverables. These may vary between clients or countries. The contract needs to contain a clause that it operates legally under your local law’s jurisdiction. Other essential clauses are a non-disclosure agreement (NDA clause), a termination clause, and an ownership clause.
Without a contract, a client can attempt to increase the scope of the work at your expense, ignore obligations, and dispute payment terms. It protects your rights and makes it easier for a court to enforce compliance.
Insurance
Find an insurer who can provide you with comprehensive insurance coverage. Professional indemnity insurance will protect you in the event of a costly error, a difficult client, and legal recourse. Make sure that this is valid in the countries you work in. Insurance for legal expenses will give you access to valid legal documentation and covers outstanding invoices. Income insurance will give you a monthly payout if a medical event prevents you from working and will not be taxable.
Costing Your Work
You will have a standard rate for common types of work If clients pay you in a foreign currency, this means that your earnings will fluctuate according to the exchange rate. Some jobs will be cheaper, and others will cost more. Additionally, these variations can reduce your income.
Insist that clients pay you in your local currency. Your contract should state that the client is liable for exchange rate conversions and international transfer fees. Alternatively, raise your rate to ensure that you are not short-changed.
Getting Paid
A trustworthy way of getting paid is through Ria Money Transfer. You can set this up using an international money transfer app . Have a system in place to keep track of invoices and due dates.
A client must be requested to pay a deposit before you commence work on a project. This should vary between 20% and 50% depending on the size of the job. If the client cannot afford the deposit you will likely have problems getting them to pay their account. Steer clear of such potential clients.
Time Zone Differences
Once you have more than one international client, you will need to take the time zone differences into account when creating your workflow. Your and your client’s working day must make provision for at least three hours when you are both available. The contract should specify the time to respond to queries.
A good plan is to divide clients into two categories: those that are ahead of your time zone, and those that are behind. Reserve mornings for the former and afternoons for the latter when scheduling your daily work.
These recommendations will ensure that you have stress-free relationships with your foreign clients.
