What is a Master Service Agreement?
Definition
A contract establishing terms and conditions for ongoing vendor relationships including pricing, payment terms, intellectual property rights, liability, termination clauses, and dispute resolution. The MSA governs multiple projects or subscriptions under one framework agreement."
Why This Matters
The MSA establishes the overarching terms governing your vendor relationship, including liability limits, termination clauses, and pricing provisions. These contractual terms can significantly impact long-term costs and risks. Professional review of MSA terms before signing is essential, as these agreements typically favor vendor interests and benefit from negotiation.
Related Terms
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Contract
RFP Fundamentals
Legal agreement between buyer and vendor defining terms, pricing, deliverables, responsibilities, and termination conditions.
Legal Agreement
RFP Fundamentals
Legally binding contract between parties establishing rights, obligations, and remedies.
Vendor Contract
RFP Fundamentals
Legal agreement governing vendor relationship including scope, pricing, terms, and obligations.
Contract Negotiation
Pricing & Total Cost
The process of finalizing terms with the selected vendor including pricing adjustments, SLA modifications, customization scope, payment terms, and exit clauses.
Procurement Lifecycle
Pricing & Total Cost
The end-to-end process for acquiring software including needs assessment, requirements definition, RFP creation, vendor evaluation, contract negotiation, implementation, and ongoing management.
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