MEDP 299.XX Hunter College at the City University of New YorkPosts RSS Comments RSS

What Should Be Included In A Master Service Agreement

Now that you`ve looked a little more at what this type of agreement consists of, let`s dissect each of these areas to give you a better idea of the conditions you can expect and why they are important: section that defines the limitations of liability. As a general rule, both parties are not liable for indirect or consequential damages. However, if exceptions are made, they must be listed in the MSA. In addition, the agreement lists the employees and partners involved who assume the risks of operational incidents that result in direct losses. Most relationships under a framework agreement involve the use, disclosure and/or creation of intellectual property (“IP”) rights by the parties. The distribution of these rights between the parties is common in MSAs. In MSAs, it is common to have a section that describes what each party is responsible for throughout the duration of the relationship so that the work can be done successfully. An MSA will also likely need language to ensure that both parties continue to comply with aspects of the agreement that persist after termination (for example. B, maintaining mutual confidentiality). You can find more information on our “Master Service Contract” page and on our “Corporate and Commercial Services” page. The distribution of risks is the other factor. If companies accept an MSA, the new agreement may affect existing contracts. Insurance contracts are particularly important.

An MSA protects the parties by describing the risks each company takes. It also decides on the responsibility of each group for the duration of the project.

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