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A master agreement is a document that outlines the terms and conditions of an agreement between two or more parties. It's common to use a master agreement when there are multiple agreements in place with one company, such as if they have separate contracts for services, warranties, and deliveries.
A Transition Service Agreement (TSA) is an agrement between buyer and seller companies (or divested entities) in which one entity provides services and support (i.e., IT, finance, HR, real estate, payroll, etc.) to another after the closure of a divestiture to ensure business continuity.
This contract is signed only between a customer and a service provider. It specifies the standards and types of services that the latter will offer. Some common clauses of an MSA are confidentiality clause, termination clause, and dispute resolution clause.
This contract is signed only between a customer and a service provider. It specifies the standards and types of services that the latter will offer. Some common clauses of an MSA are confidentiality clause, termination clause, and dispute resolution clause.
An MSA should include all relevant information, such as the scope of service, payment terms, and any other important details. To ensure that an MSA is accurate and effective, businesses should be familiar with the legal requirements for such agreements and should consult with a lawyer if needed.
The following list contains the main clauses to look for when entering into a service agreement, including: charge, scope of services, alteration, termination, insurance of liability, confidentiality, possession of IP, and option of law/ dispute resolution.