Get APPLICATION FOR SCHOLARSHIPS 2013 (2-page) - Atu

Many business and family contracts do require a notary by law (buying a house, making out a will, etc.), but a statement of work isn't one of them. Nevertheless, it's possible to sign it with a notary's presence to ensure an extra layer of security about the statement being enforceable in courts.

Each project requires a unique SOW that outlines the specifics of that engagement. That said, almost all SOWs will include seven elements: the Scope of Work, deliverables, time and resources, payment terms, client services, changes, and terms and conditions.

Both parties need to agree to and sign a statement of work (SOW). But what exactly is this document, and how does it fit into the broader landscape of business agreements? Read on to learn more about SOWs, what they are used for, and how to create your own.

A statement of work (SOW) is a document that provides a description of a given project's requirements. It defines the scope of work being provided, project deliverables, timelines, work location, and payment terms and conditions.

A statement of work is legally binding, but it is not the final, formal contract signed at the end of the contracting process. It can be thought of as the formal foundation of a final contract.

Closure. Conclude your statement of work with information about how deliverables will be accepted as well as who will be in charge of delivering, reviewing, and signing off on deliverables. Your conclusion should also include final administration duties, such as ensuring everything is signed, closed, and archived.

Who writes the statement of work? Like most project management documents, SoWs are best written collaboratively. However, there are two main parties involved: the client or service provider and the company. SoWs need to be approved by two parties before work on your project really begins.

A statement of work is legally binding, but it is not the final, formal contract signed at the end of the contracting process. It can be thought of as the formal foundation of a final contract.

Many business and family contracts do require a notary by law (buying a house, making out a will, etc.), but a statement of work isn't one of them. Nevertheless, it's possible to sign it with a notary's presence to ensure an extra layer of security about the statement being enforceable in courts.

Each project requires a unique SOW that outlines the specifics of that engagement. That said, almost all SOWs will include seven elements: the Scope of Work, deliverables, time and resources, payment terms, client services, changes, and terms and conditions.

Both parties need to agree to and sign a statement of work (SOW). But what exactly is this document, and how does it fit into the broader landscape of business agreements? Read on to learn more about SOWs, what they are used for, and how to create your own.

A statement of work (SOW) is a document that provides a description of a given project's requirements. It defines the scope of work being provided, project deliverables, timelines, work location, and payment terms and conditions.

A statement of work is legally binding, but it is not the final, formal contract signed at the end of the contracting process. It can be thought of as the formal foundation of a final contract.

Closure. Conclude your statement of work with information about how deliverables will be accepted as well as who will be in charge of delivering, reviewing, and signing off on deliverables. Your conclusion should also include final administration duties, such as ensuring everything is signed, closed, and archived.

Who writes the statement of work? Like most project management documents, SoWs are best written collaboratively. However, there are two main parties involved: the client or service provider and the company. SoWs need to be approved by two parties before work on your project really begins.

A statement of work is legally binding, but it is not the final, formal contract signed at the end of the contracting process. It can be thought of as the formal foundation of a final contract.