I believe that one thing freelance web workers enjoy most about doing what we do is the flexibility we have in choosing our projects and clients. But while there can be a certain amount of informality in this process, we still need to be professional in outlining our commitments and expectations with a formal Terms of Service Agreement.
Creating and updating a good TOS can be a challenge though. Thankfully, the good folks over at Freelance Switch have addressed this in an excellent article outlining 8 things you should include in your Terms of Service Agreement.
My own agreement is much like a living breathing document, one that is adjusted and tweaked based upon my experiences, but I know there is still room for improvement.
Do you use a formal TOS? What have you included that has been a lifesaver for you?