Master Service Agreement (MSA)

Master Service Agreement (MSA)

An overarching contract that sets the general terms of service between two parties, allowing future agreements to be executed more easily.

359.70

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Description

A Master Service Agreement (MSA) is a long-term contract that outlines the general terms and conditions between parties, particularly in business relationships. It helps streamline future transactions by eliminating the need to renegotiate terms repeatedly. MSAs typically cover payment terms, dispute resolution, intellectual property rights, confidentiality, liability limits, and warranties. Common in industries such as IT, consulting, and construction, an MSA enables companies to enter into project-specific agreements (Statements of Work) without having to redefine standard conditions. This reduces negotiation time and legal costs. MSAs help manage risks and set expectations upfront, ensuring smoother collaboration.