The Terms of Business Agreement serves as the foundational document governing the commercial relationship between service providers and their business clients in the United States. This agreement is essential when establishing ongoing business relationships that involve regular service provision or repeated transactions. It typically includes detailed terms covering service scope, performance standards, payment conditions, and risk allocation, while ensuring compliance with both federal and state-specific commercial laws. The document is designed to provide clarity and certainty in business relationships while offering sufficient flexibility to accommodate various service types and business models. The Terms of Business Agreement is particularly crucial for companies operating in regulated industries or handling sensitive information, as it incorporates necessary compliance requirements and risk management provisions.
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1. Parties: Identifies and provides full legal details of all parties to the agreement
2. Background: Sets out the context and purpose of the agreement
3. Definitions: Defines key terms used throughout the agreement
4. Services: Details the services or products to be provided under the agreement
5. Fees and Payment: Specifies pricing, payment terms, invoicing procedures, and payment methods
6. Term and Termination: Defines the duration of the agreement and circumstances for termination
7. Obligations of the Service Provider: Lists the key responsibilities and commitments of the service provider
8. Obligations of the Client: Lists the key responsibilities and commitments of the client
9. Confidentiality: Governs the handling and protection of confidential information
10. Intellectual Property: Addresses ownership and usage rights of intellectual property
11. Liability and Indemnification: Sets out liability limitations and indemnification obligations
12. Force Majeure: Addresses circumstances beyond parties' control affecting performance
13. Governing Law and Jurisdiction: Specifies applicable law and jurisdiction for dispute resolution
14. General Provisions: Includes standard boilerplate clauses such as notices, assignment, and severability
1. Data Protection: Required when personal data processing is involved, detailing GDPR or other privacy law compliance
2. Service Levels: Include when specific performance metrics and standards need to be maintained
3. Insurance: Add when specific insurance requirements need to be maintained by either party
4. Compliance with Laws: Include for regulated industries or when specific regulatory compliance needs to be addressed
5. Audit Rights: Add when one party needs the right to audit the other's compliance or performance
6. Business Continuity: Include when service continuity is critical to the client's operations
7. Anti-Bribery and Corruption: Add for international business or when dealing with government entities
8. Marketing and Publicity: Include when addressing the right to use the other party's name or logo
9. Non-Solicitation: Add to prevent hiring of each other's employees or solicitation of customers
10. Dispute Resolution: Include when specific dispute resolution procedures (like mediation) are required
1. Schedule 1 - Services Description: Detailed description of services or products to be provided
2. Schedule 2 - Fee Schedule: Detailed breakdown of fees, rates, and payment terms
3. Schedule 3 - Service Levels: Specific performance metrics, KPIs, and service level requirements
4. Schedule 4 - Contact Details: Key contacts and notice details for both parties
5. Schedule 5 - Data Processing Terms: Detailed data protection and processing requirements if applicable
6. Schedule 6 - Change Control Procedure: Process for making changes to services or terms
7. Appendix A - Technical Requirements: Technical specifications or requirements for service delivery
8. Appendix B - Security Requirements: Information security requirements and procedures
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Information Technology
Financial Services
Management Consulting
Marketing and Advertising
Legal Services
Healthcare Services
Engineering Services
Business Process Outsourcing
Software and Technology
Telecommunications
Real Estate Services
Education and Training
Research and Development
Environmental Services
Relevant Teams
Legal
Commercial
Operations
Sales
Business Development
Procurement
Finance
Compliance
Risk Management
Account Management
Relevant Roles
Chief Executive Officer
Chief Operating Officer
General Counsel
Commercial Director
Head of Legal
Business Development Manager
Contract Manager
Procurement Manager
Operations Director
Risk Manager
Compliance Officer
Legal Counsel
Account Manager
Sales Director
Finance Director
Project Manager
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