MASTER SERVICE AGREEMENT
Generally, a contract or agreement controls the on-time action between the parties, but what do in situations where relationship between the parties exists for long time and new circumstances are being developed?
OR
Situations wherein parties to a particular agreement or contract knows that their association will work for a longer time?
The way to tackle this situation is to enter into master service agreement as it streamlines the future agreements and accelerate the negotiation procedures. Therefore, the additional contracts entered between the parties at later stage need not to be renegotiated with master service agreement and the fundamentals of the first agreement can be included in all subsequent contracts or agreements.
What does the Master Service Agreement means?
The Master Service Agreement refers to an agreement which is entered between two or more parties to establish the terms and conditions in order to govern all the future activities and responsibilities. It allows the contracting parties to plan for the future terms and to also to ratify the agreements.
What does the Master Service Agreement include?
Nour Attorneys Law Firm provides best consultancy in service master agreements and works in a highly proficient manner to draft the Master Service Agreement and secure the interest of our clients. Thus, for better understanding the Master Service Agreement includes and governs the following subjects:
- To maintain Confidentiality
- Dispute Resolution Mechanism
- To identify Geographic location of operations
- To prescribe Payment Mode and terms
- To Protect Intellectual Property rights
- To maintain Quality of working standards
- To maintain describe warranties
- To fulfil Corporate Social Responsibilities
- To describe Liabilities of contracting parties
- To clarify mechanism of Production and cost of transportation
- To deal with situations wherein Accidental Death or Injury caused to any employee
- To deal with Failure to complete project in a stipulated time and manner
- To deal with unsatisfactory performance or service
Thus, a well drafted master service agreement turns out to be a real game changer for ongoing commercial relationships as it eliminates the possibility of recreating new contract or agreement for every action between the parties.
Thereby, it is very important to draft a good Master Service Agreement in order to avail all the benefits emanating from it and also to avoid any dispute for future. Therefore, drafting skills plays an important role and a good drafting skill can safeguard the interest of all the parties for a longer time. Thus, while drafting Master Service Agreement the draftsman must be very careful and must bear in mind how to deter the other party so that breach in agreement can be avoided.
Nour Attorneys Law Firm provides best consultant services in master agreements and is always committed to provide best advice and results to our clients. Therefore, in case if you need any suggestion or help in relation the matters related to drafting of Master Service Agreement you can contact us freely. Our team is fully committed in order to perform their duty and in delivering out the positive results.
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