When was the last time you reviewed your customer agreements? Have your products and services changed over time? These agreements are often the first and only legal document your clients will see. Having a clear agreement that addresses the common payment issues, service or warranty offers, and other major terms will save you money.
Master Services Agreement
A Master Services Agreement (MSA) is ideal for a longstanding relationship between you and your client. The MSA outlines the basic relationship regarding parties, obligations, payment terms, dispute resolution, and other important terms.
Statement of Work/Invoices
This is an ancillary document that must be included for each project after a customer has signed an MSA. The Statement of Work or Invoice will provide specific details on the product, quantity, dates of production, delivery, and price. Dividing these pieces will save your company time by allowing salespeople and lower-level managers to approve smaller projects once a vendor relationship has been established via the MSA.
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