Service agreements between companies are essential as they help to define the terms and conditions of the partnership. These agreements spell out the obligations of each party, including the services that will be provided, payment terms, and other critical elements of the partnership. In this article, we will provide you with a sample service agreement between two companies.
XYZ Company (“Provider”) agrees to provide services to ABC Company (“Client”) in accordance with the terms and conditions set forth below.
1. Services
Provider agrees to provide the following services to Client:
- [Description of services, including any limitations or exclusions]
2. Payment
Client agrees to pay Provider for the services provided in accordance with the following terms:
- [Payment terms, including rates, invoicing, and payment schedule]
3. Term
This agreement shall begin on [start date] and continue until terminated by either party by giving [notice period] days` notice in writing.
4. Confidentiality
Provider agrees to maintain the confidentiality of any information received from Client in connection with the services provided pursuant to this agreement.
5. Termination
Either party may terminate this agreement upon a material breach of the terms and conditions set forth herein by the other party.
6. Limitation of Liability
Provider`s liability for any claims arising out of or in connection with this agreement shall be limited to the fees paid by Client to Provider under this agreement.
7. Governing Law
This agreement shall be governed by and construed in accordance with the laws of the state of [state], and any disputes arising hereunder shall be resolved in the courts of [state].
8. Entire Agreement
This agreement constitutes the entire understanding between the parties and supersedes all prior negotiations, understandings, and agreements between the parties.
IN WITNESS WHEREOF, the parties have executed this agreement as of the date first above written.
XYZ Company
By: _________________________
Title: ________________________
ABC Company
By: _________________________
Title: ________________________
In conclusion, a well-drafted service agreement is essential for companies to define the terms and conditions of their partnership. The sample agreement provided above is just an example, and the details of your agreement may vary depending on your specific needs and circumstances. It is always advisable to seek legal counsel before finalizing any service agreement.
