Executive Search Terms
Our professional service fees are for the management of the recruitment process, including the identification and screening of candidates. Upon request, we also advise our clients on talent management. Additional consulting services will be subject to an agreed upon hourly rate.
Forrer & Associates, Inc. (“Forrer”) agrees to diligently recruit, screen, and present candidates to whom you will have the option to extend an offer of employment. Forrer will check references and verify academic credentials and professional certifications to assist you in the decision making process. Background and criminal checks will be conducted by a third party upon request; these services will be provided to you at Forrer’s cost.
For any candidate that is presented to you by Forrer and that you hire, employ, or contract with, an agreed upon fee will be owed to us. Forrer charges industry standard rates that vary according to the types and levels of candidates sought. Our fee is a percentage of the hired candidate’s compensation.
For retained search agreements, a retainer that is credited toward the final fee will be due upon engaging Forrer. Forrer will invoice you for the final fee upon the candidate's acceptance of offer, subject to Forrer's guarantee. If payment is not received by Forrer within thirty (30) days of the invoice, the below guarantee is voided and Forrer reserves the right to charge interest on balances that are more than forty-five (45) days overdue.
If any candidate presented to you by Forrer resigns or is terminated for cause within ninety (90) days of the candidate’s start date, Forrer will issue you/your company a credit in an amount equal to the fee you paid to Forrer for that candidate’s placement. A for-cause termination will be a termination predicated upon the candidate’s commission of fraud, theft, or other crime and/or documented poor work performance. Termination for cause shall not consist of any other reasons, which includes but is not limited to layoffs due to downsizing, furloughs, or hiring freezes.