A contractual agreement in which two parties, a client and service provider, agree to terms and conditions that are to govern all transactions between them for the long-term.
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What is a Master Service Agreement?
A Master Service Agreement is a contractual agreement in which two parties, a client and service provider, agree to terms and conditions that are to govern all transactions between them for the long-term. Contracts such as this find use in sectors that involve a large number of transactions between the provider of a service as well as a customer and may include a separate statement of work for each. The IT sector is the most common user of such an agreement.
Advantages of a Master Service Agreement
Covers Entire Relationship
The Master Service Agreement covers the entire relationship between service provider and customer, covering all aspects of the contract that are likely to arise. Such an agreement is beneficial to have in place before starting a long-term relationship with a vendor/customer.
It provides a framework to quickly negotiate agreements. Therefore, the same terms need not be repetitively negotiated for deals that are very similar to each other.
Master Service Agreement Procedure
2 WORKING DAYS
Once you send in a request, our representative will get in touch with you to understand your requirements. If further details are required, we will contact you for the same. Once these are in, we will work on the request and send it to you for review within 3 to 4 working days. Feel free to get back to us if you would like any changes.
2 WORKING DAYS
In case you would like any changes to the agreement, our lawyers will work on them. Two rounds of iterations are included in the original price.