Contract of Service 3
Contract of Service 3 : Employment agreement. An agreement between an employer and an employee at the time the employee is hired. The contract outlines the precise nature of their business relationship specifically what compensation the employee will receive in exchange for what specific work performed and often prescribing how such performance could be measured. Contracts of service have implied terms (assumed, unspoken, essential terms), as well as explicit terms (typically in writing). Contracts also contain clauses for termination of employment, by either party, and include notice period, reasons, and compensation arrangements etc. In some countries verbal contracts are also recognised, but written contracts are the norm
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