Administrative Services Agreement
About this form
The Administrative Services Agreement is a legal document that outlines the terms under which a Manager provides administrative services to a Company that owns an oil, gas, or mineral-related subsidiary. This agreement specifies the Manager's powers and duties, compensation, and the relationship between the two parties, ensuring clarity in management responsibilities and operational oversight in the energy sector.
Main sections of this form
- Defined terms, explaining key terminology used throughout the agreement.
- Engagement of the Manager detailing the scope of services and relationship status.
- Powers and duties of the Manager, including specific actions they are authorized to perform.
- Liability provisions, defining the extent of the Manager's liability for failures or omissions.
- Term and termination conditions outlining the duration of the agreement and termination processes.
- Miscellaneous sections covering notices, amendments, and governing law.
When to use this document
This form should be used when a Company, which fully owns a subsidiary engaged in the oil and gas industry, needs to formalize the arrangement with a Manager to handle its administrative functions. It is particularly relevant for companies looking to ensure effective management while defining the roles, responsibilities, and limitations of their Manager.
Who this form is for
This agreement is suitable for:
- Companies in the oil, gas, and minerals sector looking for managerial oversight.
- Managers responsible for handling administrative duties for resource-extraction companies.
- Legal professionals drafting agreements for clients in the energy industry.
Completing this form step by step
- Identify and enter the Company and Manager names in the agreement.
- Specify the effective date and terms of service for clarity.
- Outline the compensation structure, including the Monthly Management Fee.
- Detail the powers and duties of the Manager to ensure accountability and clarity.
- Include all required signatures of the parties involved to validate the agreement.
Is notarization required?
In most cases, this form does not require notarization. However, some jurisdictions or signing circumstances might. US Legal Forms offers online notarization powered by Notarize, accessible 24/7 for a quick, remote process.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to define key terms, leading to ambiguity in roles.
- Not specifying the compensation arrangement clearly, which may lead to disputes.
- Overlooking the need for all parties to sign the agreement for legal validity.
Benefits of using this form online
- Convenience of downloading and completing the form at your own pace.
- Editability allows for customization to meet specific business needs.
- Reliability from attorney-drafted templates that enhance legal compliance.
Legal use & context
- The form is enforceable as a legally binding document once properly executed by all parties.
- Understanding the limitations of liability is critical in mitigating risks.
- Parties should comply with all agreed terms to maintain legal standing in case of disputes.
Key takeaways
- The Administrative Services Agreement sets clear expectations between a Company and Manager.
- It is crucial for regulatory compliance and operational clarity in the oil and gas sector.
- Proper completion and understanding of the agreement can prevent legal issues and disputes.
Glossary of terms
- Manager: The entity responsible for delivering administrative services to the Company.
- Acquisition Costs: Expenses incurred in acquiring oil and gas interests.
- Force Majeure: Events beyond control that excuse performance delays in the agreement.
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FAQ
Management services agreement is an agreement entered between a consultant or independent contractor and a Company to provide management, consulting or other services for a fee. A Management services agreement helps the Company to reduce its operational costs and to increase its efficiency.
Identify the customer and service provider. Describe the services being provided. Outline a payment schedule. Establish terms about confidentiality, non-solicitation, and non-competition. Address ownership of materials. Personalize your Service Agreement.
An Administrative Services Agreement is a contract between you and an administrative services firm that specifies responsibilities, duration of service, and hourly rate.
A description of the parties involved in the agreement. A description of the services to be performed. A description of fees and payment schedules. The effective date of the contract, when work will begin, and the terms under which it can be terminated. Include a place for signatures.
A partnership deal in which a songwriter contracts with a publishing administrator. In this arrangement, the songwriter keeps 100 percent ownership of the copyright and pays an administrative fee to the publisher/administrator.
Identify the customer and service provider. Describe the services being provided. Outline a payment schedule. Establish terms about confidentiality, non-solicitation, and non-competition. Address ownership of materials. Personalize your Service Agreement.
The Professional Services Agreement (PSA) is used as a "Blanket Agreement" to contract with a consultant for a specific period of time.Exhibit A specifies the services to be performed, the compensation, and the time frame in which the services will be performed.
Administrative Services means services pertaining to personnel, payroll, property management, benefits, human resource management, financial planning, case docketing and management, contract and subcontract management, facilities management, proposal activities and other similar services.
