Contracts and Agreements
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7 Terms
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Basic contract
Formal establishment between two parties
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Service-level agreement (SLA)
The standard of service an organization should expect from a vendor
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Memorandum of agreement (MOA)
Formal outline of the roles/responsibilities played by each party
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Memorandum of understanding (MOU)
Informal, less binding declaration of mutual intent
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Master service agreement (MSA)
Blanket agreement covering the general terms of engagement between parties across recurring transactions
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Statement of work (SOW)
Specifies details for a particular project
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Business partnership agreement (BPA)
Goes a step beyond basic contract, where entities pool together resources and tactics for mutual benefit
Note 
Flashcards (177)