A Professional Services Agreement (PSA) is a contract between the provider and the client. The agreement helps to determine the delivery of professional services and the remuneration of the service provider. A PSA is also a way of ensuring that the professional has been paid for their services. Most often, the client agrees to the terms and conditions of the PSA, therefore, ensuring a level of accountability between both parties.
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Many services provide basic accounts such as insurance and notaries to clients. The client is also generally covered by an indemnity where they agree to pay the indemnity if anything goes wrong. A PSA usually covers many aspects of this procedure and establishes standard rules, procedures, and standards.
Many jurisdictions have their regulations, which also need to be implemented by both parties. This PSA can be used to define the terms of a service agreement which can cover how the client has to perform their regular tasks.
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The client usually must show proof of taking the service within a specified period and the payment of the service is given. This also means that the client must sign the document provided by the provider in the strict stipulation of the agreement.
An example of a professional services agreement is provided by B2B writing services. Here, the client has to provide an agent for the process of transfer of the files and the agent can accept the client's responsibility in this matter.
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Most frequently, the client can sign this agreement without the services provider even giving him/her a formal document. This is because this type of agreement is more flexible and can be interpreted by the client. With this agreement, there is a chain of responsibilities that have to be fulfilled by the client.
A professional service provider can be a business, a lawyer, a doctor, a mechanic, an accountant, a therapist or an event planner. All the above can be service providers that can benefit from a PSA.
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