Contracts
Contracts
When you are accepted onto a Folio project, a contract is issued that formalizes the terms of your engagement. Review and sign your contract before beginning any work.
Contract Types
Folio supports two contract structures depending on the nature of the project:
Hourly Contracts
You are compensated based on verified hours worked.
Your agreed hourly rate and estimated weekly hours are specified in the contract.
Hours must be logged through the Folio platform for payment eligibility.
Example: Physician Internal Medicine — $144/hr, up to 10 hrs/week
Deliverable-Based (Project) Contracts
You are compensated upon completion and acceptance of defined deliverables.
Each deliverable and its associated payment amount are specified in the contract.
Deliverables are reviewed and approved by the project manager before payment is released.
Contract Structure
A standard Folio contract includes:
Role and project name — The specific position and project you are engaged for
Compensation — Hourly rate or deliverable pricing, as applicable
Scope of work — Description of tasks and expected output
Estimated hours — Weekly hour commitment (for hourly contracts)
Project timeline — Kickoff date, estimated end date, and total estimated hours
Confidentiality terms — NDA and data handling obligations
Independent contractor status — Confirmation that you are engaged as an independent contractor, not an employee
Accepting and Signing a Contract
When a contract is ready, you will receive a notification via email and the Folio platform.
Navigate to your Home dashboard and locate the contract in the Contracts tab.
Review all terms carefully before signing.
Sign electronically to confirm your acceptance.
Once signed, the contract is active and you may begin work.
Contracts must be signed before work begins. Work performed prior to a signed contract may not be eligible for payment.
Modifying or Ending a Contract
If you have questions about a contract's terms or need to request a modification, contact your project manager through Messages or reach Folio support via the in-app help chat.
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