A master service agreement, sometimes called a contract or service agreement, is a contract between a company and its customers. It outlines the obligations of the companies between each other. It can also be used in a business to outline what is expected from both parties, by both parties. A master service agreement might also be used in a business to deal with health issues that arise between a company and its customers.
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Various issues that could arise between a business and its customers could be covered under this type of agreement. These could include insurance, payroll, services, computer repair, emergencies, equipment, shipping, billing, services provided, employees, claims, and payment for services received. It is important to define these things before starting the process so that there are no misunderstandings.
A master service agreement can be used in any type of business that needs to have different kinds of agreements with its customers. For example, a restaurant might want to have their food prepared in-house. Another business might be someone who owns a gas station and they need to have a different agreement with the owners of a mechanic shop.
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A master service agreement can be used on its own or it can be used in conjunction with other types of agreements. It can be used as a separate document, or it can be included in another agreement. When it is used as a separate document, it is sometimes referred to as a declaration. In some cases, the document that comes after the master service agreement can be referred to as a contract.
A master service agreement is different from an employment agreement. An employment agreement covers employment issues such as the terms of employment and salary. With a master service agreement, it is less formal and more focused on the types of things that are expected from the business. If a business can use this type of agreement as a starting point for creating a contract or service agreement, it can greatly benefit the business as it can avoid the hassles and unnecessary paperwork that a contract would bring.
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If a company already has a service agreement with its customers, they can use this master service agreement as a template for creating their new agreement. Many times a company will create a new agreement based on an existing one. The new agreement might have more terms than the original, and may even contain conditions that were not part of the original contract. By starting with an existing master service agreement, the company can still follow the same rules of their old agreement.
The main difference between a master service agreement and a service agreement is the term length. A service agreement has a long term time frame where the contract has a shorter term, usually two to five years. The master service agreement will have a shorter term, usually three to five years. This allows the business to still keep in contact with their customers, even after the service contract has expired.
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The basic structure of a master service agreement is the same, but the terms can be tailored to a specific situation. They can be written for a service agreement or a contract. Many times a master service agreement can be used as a template for creating a new contract or service agreement.
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