Shared Services Agreement between Technology Solutions Company and eLoyalty Corporation
What is this form?
The Shared Services Agreement between Technology Solutions Company and eLoyalty Corporation outlines the terms for providing administrative services after a business spin-off. This agreement ensures that eLoyalty continues to receive necessary services from Technology Solutions Company, facilitating a smooth transition to independent operations. Unlike other agreements, this form covers specific obligations, performance standards, and fee structures related to shared services.
Form components explained
- Definitions and Scope: Clarifies key terms used throughout the agreement.
- Term of Agreement: Specifies the duration of the agreement and terms for extension.
- Service Performance: Outlines obligations for the performance of services by Technology Solutions Company.
- Fees and Payment: Details the cost structure, including caps and invoicing procedures.
- Confidentiality: Establishes the importance of protecting proprietary information exchanged between the parties.
- Termination Clauses: Defines conditions under which the agreement may be terminated.
Situations where this form applies
This form is essential when Technology Solutions Company spins off specific business operations to eLoyalty Corporation, necessitating a clear framework for ongoing administrative support. It is particularly important when both companies seek to maintain effective operational continuity during the transition to independent entities, ensuring that shared services continue without interruption.
Who needs this form
- Technology Solutions Company, as the provider of services.
- eLoyalty Corporation, as the recipient of ongoing administrative services.
- Legal counsel or representatives involved in business restructuring processes.
- Business partners or stakeholders overseeing post-spin-off operations.
How to complete this form
- Identify the parties: Provide the full legal names of Technology Solutions Company and eLoyalty Corporation.
- Enter the effective date: Fill in the date on which the agreement will take effect.
- Specify the services: Clearly outline the administrative services to be provided under this agreement.
- Define the fee structure: Detail the fees associated with the services and any applicable caps on costs.
- Sign and date: Ensure authorized representatives from both companies sign and date the agreement to formalize it.
Notarization guidance
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to clearly define the scope of services can lead to disputes over performance expectations.
- Not specifying payment terms may result in misunderstandings regarding fees.
- Overlooking confidentiality provisions may expose sensitive information.
- Neglecting to include termination clauses can complicate the end of the agreement.
Advantages of online completion
- Convenient access to a legally vetted template simplifies the drafting process.
- Editability allows users to customize terms specific to their arrangement.
- Reliable storage and easy retrieval of documents through a secure online platform.
- Streamlined process for collaboration among parties through digital sharing.
Key takeaways
- The Shared Services Agreement facilitates ongoing administrative support post-spin-off.
- Clear definitions, obligations, and fees are crucial to avoid disputes.
- This form is tailored to meet Illinois legal standards but can be adjusted for other jurisdictions.
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FAQ
Identify the customer and service provider. Describe the services being provided. Outline a payment schedule. Establish terms about confidentiality, non-solicitation, and non-competition. Address ownership of materials. Personalize your Service Agreement.
Identify the customer and service provider. Describe the services being provided. Outline a payment schedule. Establish terms about confidentiality, non-solicitation, and non-competition. Address ownership of materials. Personalize your Service Agreement.
A Service Agreement is a contract - either written or verbal - which sets out the terms and conditions for service between a Customer and a Service Provider.A Service Agreement may sometimes be referred to as a contractor form, an independent contractor agreement, a contractor agreement or a freelance agreement.
The following list includes the key provisions to look for when entering into a service agreement, including: payment, scope of services, amendment, termination, liability insurance, confidentiality, IP ownership, and choice of law/dispute resolution.
A Service Agreement, also sometimes called a General Services Agreement, is a document between a service provider and a client. Within these agreements, the service provider and client outline their expectations for behavior and agree to the bounds of the relationship between them.
A Service Agreement is a contract - either written or verbal - which sets out the terms and conditions for service between a Customer and a Service Provider.A Service Agreement may sometimes be referred to as a contractor form, an independent contractor agreement, a contractor agreement or a freelance agreement.
A shared services agreement is a model for delivering corporate support. It works by consolidating and combining services between business units and headquarters into one separate entity that is based on principles similar to the market. A shared services agreement is a model for delivering corporate support.
Get it in writing. Keep it simple. Deal with the right person. Identify each party correctly. Spell out all of the details. Specify payment obligations. Agree on circumstances that terminate the contract. Agree on a way to resolve disputes.
A description of the parties involved in the agreement. A description of the services to be performed. A description of fees and payment schedules. The effective date of the contract, when work will begin, and the terms under which it can be terminated. Include a place for signatures.
