First Auditors platform is a technology-driven platform that offers specialized legal and financial advisory services in India.
A Master Service Agreement is a contract between a client and a service provider that specifies the terms and conditions that will apply to all future transactions. These contracts, which can each have a unique statement of work, are helpful in industries that entail a lot of interactions between a service provider and a consumer.
A Master Service Agreement (MSA) is a contract that establishes the terms and conditions under which services will be provided between parties. It serves as a framework for future agreements.
An MSA streamlines negotiations, provides clarity on expectations, reduces legal complexities for future agreements, and fosters a stronger business relationship between parties.
The duration of an MSA varies depending on the agreement between the parties. It may last for a specified term or remain in effect until terminated by either party.
Yes, an MSA can be modified if both parties agree to the changes and document them appropriately to ensure clarity and enforceability.
If one party breaches the MSA, the other party may seek remedies as defined in the agreement, which could include damages, specific performance, or termination of the contract.