Hemp and cannabis consultants can offer operators invaluable services throughout the supply chain. However, both consultants and operators should make sure they’re on the same page and have a written agreement that outlines the rights and responsibilities of both parties. Here some key provisions to include:
1) Scope of Services. Cannabis licensing and business operations typically requires expertise in multiple areas. Consultants should outline the exact services that they offer, and maybe even what falls outside their scope of services. Tax and legal advice exclusions ought to be considered.
2) Price, Manner of Payment, and Costs. Flat fee? Hourly? Monthly retainer? Make sure both sides understand how and when payment is to be made, and what those payments cover. For example, is Client responsible for the cost of making copies for a license application etc.?
3) Term and Termination. How long will the agreement last? Can either party unilaterally terminate the agreement? If so, what are the specifics?
Save yourself headaches down the road and make sure the details are hashed out ahead of time regardless of which side of the transaction you find yourself on.
DISCLAIMER: THIS INFORMATION IS STRICTLY EDUCATIONAL AND DOES NOT CONSTITUTE LEGAL ADVICE.