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The main purpose of a management contract is to lay out the terms and conditions of the relationship. This includes the duties and responsibilities of the manager, as well as the compensation they would receive for their services.
A management agreement is a legal contract through which a company enables another company to have control of another business's operations. Business owners often sign these written agreements directly with the management company.
A management agreement is a legal contract through which a company enables another company to have control of another business's operations. Business owners often sign these written agreements directly with the management company.
The common standard term for a management contract is typically between one and five years, but this can vary depending on the specific needs and goals of the parties involved.