Statement of Work

A master services agreement is a type of contract where the parties can establish most of the terms that will govern future transactions between the parties. These agreements can cover a wide array of subjects, such as intellectual property rights, late payment penalties, warranties, and confidentiality expectations, among others. Also, although master services agreements are most often associated with arranging services, it is not all that uncommon for certain goods to be provided along with the services.

As a general rule, both a statement of work and a master services agreement can be used in most, if not all, service industries since most will require general terms and conditions that have become quite common. This means that both agreements are flexible enough to accommodate most uses, while still being legally binding contracts.

Yes. As is the case for any other agreement, a master services agreement requires the parties to agree on when the contract’s provisions will begin to take effect. However, this does not always imply that a specific date must be set. Although this master services agreement allows the parties to indicate a specific date, the agreement’s effects could also begin when certain events take place, such as when all parties have signed it.

Our master services agreement does not require any additional terms or conditions in order to be valid. Nonetheless, some particular arrangement might be required within certain industries. This is especially true if the master services agreement under which this statement of work will be issued does not include a particular term that is important to the parties. If that is the case, it is recommended that such a term be included and clearly defined.