Service Agreement

A service agreement is an agreement between two parties where a service provider must provide the stated service to the other party, either an individual or a company.

In return, the client must compensate the service provider for the performance of the agreed-upon service.

Usually in the form of a document, it binds both parties to their partnership.

It must contain the following details to avoid any confusion or misunderstanding:

• Definition of both parties
• The specific description of the services
• Fees and expenses and their allocation between the two parties
• Schedule and methods of payments
• Terms of contract
• Provisions on termination of the contract
• Proprietary rights

Everything You Need to Know About Service Level Agreement