MSA (Master Service Agreement)
A Master Service Agreement (MSA) is a legally-binding contract between two parties that outlines the scope of services to be provided, expectations around payment terms and conditions, and procedures for resolution should a dispute arise. It serves as an overarching document that lays out the framework for how both parties will operate together when engaging in ongoing procurement activities. An MSA provides certainty and stability throughout the procurement process by ensuring both parties agree on the same key terms before initiating transactions. By having an MSA in place, businesses can ensure streamlined and efficient operations while mitigating any potential disputes.
