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Notice: File your annual accounts (AOC-4) before 29th October. Talk to our expert

FAQ's on Draft a Master Service Agreement Online

Where can you use a master service agreement?

Master Service Agreements have various applications. These agreements are quite popular in both government and commercial activity. They are regularly observed on the customer side as well. The master service agreement with your phone provider is an illustration of a master service agreement.

Which master service agreement risks and disputes are most common?

A few major risks and disputes are:

Employee Injury or Death: Unless particularly included in the agreement, the parties to an MSA are likely to argue over who is to blame for such occurrences

Property Damage: The MSA needs to specifically address this

Failure to Communicate: This issue arises when one company asks for updates but receives a slow response from the other

Failure to Fulfil Deadlines: Just like anything else in business, missing a deadline can lead to conflict.

What is the difference between a MSA and SLA?

A master service agreement, often known as an MSA, is a standard agreement between two parties that specifies the rules that will apply to all of their future dealings or contracts. However, a Service Level Agreement (SLA) is a contract that is only made between a client or service user and a service provider.

What if one party to the agreement does not deliver the services promised?

When a contract is broken, the offending party is required by law to make things right. Damages, specific performance, contract termination, and compensation are the main remedies. Damages intended to make the non-breaching party whole as if the breach had never occurred are known as compensatory damages.

What is the purpose of MSA?

If one party commits errors, the master service agreement (MSA) ensures that they will be responsible for all resulting financial damages. Since they are not at blame, the other party is not subject to any financial responsibilities. This is known as indemnity in legalese.