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A statement of work is legally binding, but it is not the final, formal contract signed at the end of the contracting process. It can be thought of as the formal foundation of a final contract.

Don't discount the value of a statement of work for internal projects as well. While you won't need client sign off, it's worth having one for yourself and your team. It will set up expectations for your team and outline the tasks and deliverables they'll need to complete.

A SoW is not legally binding. As such, it is often accompanied by a formal legal contract that outlines the specifics of an agreement such as the parties, terms, reporting requirements, payment obligations, etc.

A Statement of Work (SOW) is a document within a contract that describes the work requirements for a specific project along with its performance and design expectations.These KPIs can then be used as a baseline to determine whether the service provider has met conditions of the SOW.

Statement of work (SOW) is a contract between a client and an agency that includes the specifics of each product and the services to be delivered. It usually works as a project agreement and sets expectations. The parties often sign SOW along with MSA.

What is a statement of work template? A statement of work template agreed-upon between an agency and a client clearly defines what work to include within a project and what isn't part of it. In itself, an SoW template is a project contract that establishes and aligns the expectations for both parties.

A Statement of Work, often known as an SOW, outlines deliverables and project goals. It's created to keep everyone on the same page about deadlines, scope of work, and project expectations.