An Individual Consultant Agreement is a legal document between an individual consultant and the company or organization that wishes to hire them. The agreement outlines the rights, responsibilities, and obligations of both parties during the course of the project. It typically includes scope of work, compensation, payment terms, confidentiality clause, termination clause, and other important details. By signing this agreement, both parties enter into a binding contract acknowledging and agreeing to the terms of the agreement. This document helps ensure that all parties are aware of their duties and roles in the project, ensuring a successful and satisfactory outcome for everyone involved.