SERVICE AGREEMENT
A service agreement is an agreement that mentions the terms and conditions of a working arrangement between a service provider and their client. This type of contract defines a service that a service provider provides to a client in exchange for monetary consideration. Service Agreement between two companies can even decide the obligations of both the parties.
If you are a service provider you shall focus on the purpose of a Service Agreement to clearly define the services and pricing terms to your client.
Service Level Agreements:
A service-level agreement is an agreement that a client and service provider can define the expected and agreed reasonable standard of service. This outlines quality standards, response times, delivery times, and more.
Elements:
Following details shall be addressed:
- Service duration: Specify whether the service provider will provide service for a single job, a specific period of time, or indefinitely.
- Service details: Description of service for which client has hired a service provider.
- Service Provider and client information: Specify if each party is an individual or company and provide their names and addresses.
- Invoicing details: Outline how much the service provider will charge and if they’ll charge the client a monetary consideration at hourly rate.
- Notice periods: If both parties agree that they can end the agreement early, outline the number of days that the terminating party must provide written notice to the other party.
- Expenses: Decide if the client will reimburse the contractor for reasonable, work-related expenses and if the contractor needs the client’s approval before incurring expenses.
- Intellectual property ownership: Specify which party owns any intellectual property that the contractor creates. Intellectual property is any work that is a creation of the mind.
- Confidentiality: Decide if the contractor must keep confidential client information private.
- Additional clauses: Include any other relevant clauses, such as the level of service that the client expects.
Laws Governing Agreement:
- Indian Contract Act, 1872
- Information Technology Act, 2002
- Copyright Act, 1957
- Patent Act, 1970
- Trade Marks Act, 1999
- Consumer Protection Act, 2019
Laws Governing Agreement:
- Indian Contract Act, 1872
- Information Technology Act, 2002
- Copyright Act, 1957
- Patent Act, 1970
- Trade Marks Act, 1999
- Consumer Protection Act, 2019
Laws Governing Agreement:
- Indian Contract Act, 1872
- Information Technology Act, 2002
- Copyright Act, 1957
- Patent Act, 1970
- Trade Marks Act, 1999
- Consumer Protection Act, 2019
Laws Governing Agreement:
- Indian Contract Act, 1872
- Information Technology Act, 2002
- Copyright Act, 1957
- Patent Act, 1970
- Trade Marks Act, 1999
- Consumer Protection Act, 2019
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