Turn On Signature Statement Of Work For Free

Both parties need to agree to and sign a statement of work (SOW). But what exactly is this document, and how does it fit into the broader landscape of business agreements? Read on to learn more about SOWs, what they are used for, and how to create your own.

A statement of work (SOW) is a document that provides a description of a given project's requirements. It defines the scope of work being provided, project deliverables, timelines, work location, and payment terms and conditions.

Whether an RFP exists or not, the completion of an SOW should be a collaborative effort between buyer and seller. Many sole proprietors in business services and consulting will often create an SOW to propose a set of services to their clients.

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.

From the client or service provider's side, an SoW in project management is usually drafted by the project manager. An SoW is usually the first formal documentation that a company will receive, so it's important that it's well done and makes a good impression.

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.

The Statement of Work should be created and agreed to by both the customer and the development company before any work begins. This document ensures that everyone is concordant with the terms, knows what is expected, and has a clear understanding of what will be delivered at the project's end.