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If it's a company that's that small before taking work have their owners co-sign liability on your contracts. So if their LLC(Whatever) fails, they're still on
by iolothebard 11y ago
If it's a company that's that small before taking work have their owners co-sign liability on your contracts.
So if their LLC(Whatever) fails, they're still on the hook.
Banks do this for every loan my small business has taken. You sign for your company, but you also sign personally. If they won't do this, move on.
Lesson learned.
- gettingstiffed 11y agoThat's a great lesson - thanks. I've never heard of or considered such a thing, but that's a great way to assure payment without raising prices. EDIT: I think people aren't giving you enough credit here. Every contract is a negotiation - this clause is just another weapon I can include in my starting offer on a new contract. If people say hey, we won't agree to this provision, I can now say "OK, no problem, my rates just went up 10%."
- Mahn 11y agoNo offense but I'd never sign a personal liability contract if I were contracting somebody even if I had millions sitting in the bank account. In my opinion that's just a silly idea, akin of asking a VC to sign a NDA.
- k-mcgrady 11y agoIf you try to do that I can see the company just telling you to go away. One of the reasons to become a LLC/LTD is so you don't have personal liability if the company goes under. It would be a bit stupid to sign that away when you can just hire someone else.