It`s also a good idea to ask for a broken down list that describes the final cost to make sure you get everything you pay for. The broken list should also be included in the service contract as part of the exhibition. A service contract requires at least one party to provide a service to another in exchange for financial products, services or compensation.3 min. ABB`s liability for non-compliance with obligations under this agreement or non-compliance by its employees, representatives, subcontractors and suppliers, except in cases of fraud or gross misconduct, must not exceed the base price of the service agreement. There are a number of steps in the development of a good service contract, including, but not always limited to it: This provision is generally requiring both parties to obtain a minimum amount of liability insurance. It is important to balance the cost of insurance to the minimum requirement versus receipt of services. If the cost is too high, you can choose to buy for another service provider or try to negotiate the minimum until something more reasonable. The section of the contract, which relates to the level of benefits, contains a detailed description of the services you must provide. If z.B. a clothing supplier creates clothing for your start-up, you want this section to include a broken down list of all the products to be received, as well as all additional services such as: In the event of a dispute, this provision specifies how the dispute is settled and what right applies. As a general rule, parties keep it close to home (i.e.
in service provider status). This creates an advantage for transactions with local service providers! The most common types of dispute resolution include: arbitration, mediation and the use of ordinary courts. We hope this will improve your understanding of some of the most important provisions of a service contract! Mérieux Institute Service Agreement People involved: Mr. Alain Mérieux, Mr. Philippe Archinard and Mr. Christian Bréchot Nature, and disputes: their company signed a service contract with the Institut Mérieux that came into force on January 1, 2002.