What is an executive coaching contract or coaching agreement?
An executive coaching agreement, also known as a coaching contract, is a document that outlines the terms and conditions of a coaching relationship between a coach and a client. It serves as a formal agreement that defines the roles and responsibilities of both parties and sets out the goals and objectives of the coaching relationship.
Why do you need an executive coaching agreement?
There are several reasons why an executive coaching agreement is important:
- It helps to establish clear expectations for the coaching relationship. The agreement should outline the coaching process, including the frequency and duration of coaching sessions, and any other expectations or commitments from both the coach and the client.
- It provides a framework for the coaching relationship. The agreement should outline the objectives of the coaching and how progress will be measured. It should also outline any confidentiality or non-disclosure agreements.
- It helps to protect both parties. The agreement should outline any potential liabilities or risks associated with the coaching relationship and how they will be addressed.
Overall, an executive coaching agreement is an important tool that helps to ensure that both the coach and the client are clear on their roles and responsibilities, and that the coaching relationship is productive and effective.
What to include in an executive coaching agreement?
The high level sections to include would be payment terms, program length, description of services, intellectual property rights, termination clause, cancellation policy, liability, disclaimer and other details.
In layman terms, you’ll want to cover: what are we signing up for, what are the rules of engagement and what are the policies around ending the engagement.
If you want to learn more about these individual sections, we wrote an article about coaching contract terminology.
What is a good cancellation policy for executive coaching?
A good cancellation policy is one that is fair to both the business and the client. It should be clearly stated and easy to understand, and it should allow for flexibility while also protecting the business from last-minute cancellations or no-shows.
Here are some key elements that a good cancellation policy might include:
- Notice period: The policy should specify how much notice a client needs to give in order to cancel or reschedule an appointment or service. This could be a certain number of days, hours, or even minutes, depending on the type of business and the length of the service.
- Cancellation fees: The policy should outline any fees that may be charged for cancellations or rescheduling, and under what circumstances they will be applied. For example, a business might charge a fee for cancellations with less than 24 hours' notice.
- Refunds: The policy should outline any circumstances under which a client is entitled to a refund, and how the refund will be processed.
- Special circumstances: The policy should allow for flexibility in cases of emergency or unforeseen circumstances. For example, a business might allow a client to reschedule or cancel an appointment without penalty if they are sick or experiencing a personal emergency.
Overall, a good cancellation policy is transparent, fair, and clear, and it helps to protect both the business and the client.
How do you sign coaching agreements?
There are a number of ways to have a legally binding digital signature.
We’re not lawyers, so this isn’t legal advice. We did however, speak to some great lawyers and there’s a couple ways you can digitally “sign” a coaching contract that would be valid in most countries around the world.
One is to have a digital squiggly signature a la software like HelloSign or DocuSign.
Another is to have a checkbox that states “I have read and agree to these terms”.
We have both within Practice, so it’s up to you which you want to use.
The best coaching contract template for executive coaches
Instead of creating your own coaching contract from scratch and questioning whether the legalese is valid. We worked with our lawyers to create a coaching contract template that you can use for your own business.
Free for any coach to use.
