When it comes to service letter agreements, having a clear understanding of the terms and conditions is crucial for both parties involved. A service letter agreement is a legally binding document that outlines the details of the services to be provided by a service provider to a client. It is important that both parties are in agreement on the scope of work, timelines, and payment terms. In this article, we will provide an example of a service letter agreement to help you better understand the key components of such an agreement.
[Company Name] Service Letter Agreement
This Service Letter Agreement (“Agreement”) is made and entered into as of [Date] by and between [Client Name], with an address of [Address], and [Service Provider Name], with an address of [Address] (“Service Provider”).
Scope of Work
Service Provider agrees to provide the following services to Client:
[List services to be provided in detail]
Timeline
Service Provider agrees to complete the services within the following timeline:
[List timeline for completion of services]
Payment Terms
Client agrees to pay Service Provider the following fees for the services provided:
[List fee structure, including any applicable taxes]
Invoicing and Payment
Service Provider will invoice Client for services rendered once per [Week/Month/Quarter] and payment will be due within [Number] days of receipt of the invoice. Late payments may result in a penalty of [Percentage] per [Week/Month] until payment is received in full.
Confidentiality
Service Provider will maintain the confidentiality of Client’s proprietary information and will not disclose such information to any third party without written consent from Client. This includes all documents, data, intellectual property, trade secrets, and any other information that is not publicly available.
Intellectual Property
Client retains ownership of all intellectual property created during the course of the services provided by Service Provider. Service Provider agrees to not claim any ownership or rights to such intellectual property.
Indemnification
Service Provider agrees to indemnify, defend, and hold harmless Client from any and all claims, damages, and expenses arising from the services provided by Service Provider, including any claims of infringement of intellectual property rights.
Termination
Either party may terminate this Agreement with [Number] days written notice to the other party. In the event of termination, Client will pay Service Provider for services provided up to the date of termination.
Governing Law
This Agreement shall be governed and interpreted in accordance with the laws of the state of [State], without regard to its conflict of law provisions.
Entire Agreement
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, understandings, and agreements between the parties.
In conclusion, a service letter agreement is an important document for both parties involved in a service agreement. It is important to clearly outline the scope of work, timelines, payment terms, and other key details to ensure a successful and mutually beneficial relationship. By providing an example like the one above, both parties can have a better understanding of what to expect and what is expected of them.
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