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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.
Maintenance contracts include service level parameters such as response time and performance of the equipment to be maintained (99 percent network availability, for example). Other provisions of these agreements may include the timeliness and timeframe of services to be rendered and the annual or monthly fee.
An Annual Maintenance Contract is an agreement between a service provider and a client for the maintenance of a product or service for a set period of time. The supplier is bound under this contract to offer maintenance and repair services to the client as needed, and the client pays a fixed charge for these services.
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.
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.
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.