A quick peak into C2C onboarding

What is a Corp to Corp model:

Corp to Corp is basically a bond between two companies or organization, this is an alternative strategy in which one company is not directly paying you under which you are right now working but will pay to your employer on the behalf of you and now your employer who has your pay role liability is only responsible to pay you accordingly.

What is Corp to Corp Onboarding:

It is an onboarding practice of new joiners in which an onboarding representative at the client company works with your employer to complete the onboarding documentation formalities upon completion of which you will be entitled to work at the client site. This is to be noted that your employer will still be responsible for processing your payroll.

List of Onboarding documents required for C2C onboarding with brief explanation:

• MSA (Master Service Agreement)- At its most basic, an MSA is a contract between two or more parties that establishes what terms and conditions will govern all current and future activities and responsibilities. MSAs are useful because they allow the parties to plan for the future while also speeding the ratification of future agreements.Some general points to keep in mind while editing an existing MSA before sending out to a new vendor are making changes in the vendor name and address, checking the payment terms and insurance liabilities which covers workers compensation, commercial general liability, business automobile liability, excess liability, professional liability (errors and omissions) etc.
• SOW (Statement of Work)- A statement of work (SOW) is a document that provides a description of a given project's requirements. It defines the scope of work being provided, project deliverables, timelines, work location, and payment terms and conditions.Some general points to keep in mind while preparing a SOW are making changes to the vendor name, purpose of project or candidate's job title, hourly rate, candidate's name, duration of project, location of project and getting the SOW signed by both parties.
• COI (Certificate of Insurance)- A certificate of insurance (COI) is issued by an insurance company or broker and verifies the existence of an insurance policy. Small business owners and contractors typically require a COI that grants protection against liability for workplace accidents or injuries to conduct business.Some general points to keep in mind while preparing a COI are making changes to the below headers as per the requirement of both parties:- Producer: It will contain the name of the insurance company that is issuing the COI- Insured: It will contain the name of the vendor company or the name of the candidate's employer- A close look needs to be given to the coverages agreed upon by both parties, policy effective/expiration date and the amount insured. These coverages include but not limited to commercial general liability, automobile liability, excess liability, worker's compensation and employer's liability, etc.- Certificate holder name: It will have the name of the company that is doing the C2C onboarding for the candidate for it's client company.
• W9 form- The W-9 is an official form furnished by the IRS for employers or other entities to verify the name, address, and tax identification number of an individual receiving income. The information taken from a W-9 form is often used to generate a 1099 tax form, which is required for income tax filing purposes. A separate article on W9 can be accessed here: https://www.dhirubhai.net/posts/piyush-anand-f-40805236_strategicpartnerships-vendorempanelment-backgroundverification-activity-7153781326674837504-TABR?utm_source=share&utm_medium=member_desktop
• Certificate of incorporation- A certificate of incorporation might also need to be collected from the vendor company or the employer of the candidate.