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A maintenance agreement (contract), sometimes called a service agreement (contract), is an agreement which requires specific performance of repairing, cleaning, altering, or improving tangible personal property on a regular or irregular basis to ensure the product's continued satisfactory operation.
A software maintenance agreement, or SMA, is a legal contract that obligates the software vendor to provide technical support and updates for an existing software product for their customers. It may also extend the expiration date of certain features, such as new releases or upgrades.
Both AMC and CMC cover the service charges for regular ongoing maintenance and emergency repairs. When an asset breaks down, the maintenance contractor will dispatch service personnel immediately. They will repair it and replace the spare parts (if needed).
A maintenance agreement outlines the steps one party will undertake to insure the upkeep, repair, serviceability of another party's property. Maintenance contracts are commonly used by companies that take care of vehicle fleets, industrial equipment, office and apartment buildings, computer networks, etc.
A full maintenance contract is written to allow an elevator service company to take total responsibility for the elevator equipment identified in the maintenance agreement.
By Practical Law Commercial. A B2B agreement in which the supplier agrees to provide a maintenance and support service for equipment. The agreement is drafted to be broadly neutral between the parties. To access this resource, sign in below or register for a free, no-obligation trial.
Common parts of a maintenance contract span across all needs. A maintenance contract agreement sets the expectations, timeline, requirements, price, and what is not included in the contract. The two invested parties usually negotiate the annual maintenance contract rules.
A maintenance contract is a legal agreement between your organization and a maintenance service provider that outlines the work they're going to do, when they're going to do it, how quickly, and to what standard.