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A service-level agreement is an agreement between two or more parties, where one is the customer and the others are service providers. This can be a legally binding formal or an informal "contract" (for example, internal department relationships). The agreement may involve separate organizations or different teams within one organization.
A master service agreement, sometimes known as a framework agreement, is a contract reached between parties, in which the parties agree to most of the terms that will govern future transactions or future agreements. A master agreement delineates a schedule of lower-level service agreements, permitting the parties to quickly enact future ...
Statement of work. A statement of work ( SOW) is a document routinely employed in the field of project management. It is the narrative description of a project's work requirement. [1] : 426 It defines project-specific activities, deliverables and timelines for a vendor providing services to the client. The SOW typically also includes detailed ...
The ISDA Master Agreement, published by the International Swaps and Derivatives Association, is the most commonly used master service agreement for OTC derivatives transactions internationally. It is part of a framework of documents, designed to enable OTC derivatives to be documented fully and flexibly. The framework consists of a master ...
Non-compete clause. In contract law, a non-compete clause (often NCC ), restrictive covenant, or covenant not to compete ( CNC ), is a clause under which one party (usually an employee) agrees not to enter into or start a similar profession or trade in competition against another party (usually the employer).
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