If you run a business in Oklahoma, you know how important it is to get things right from the start. One area that requires particular precision is the drafting of your Master Service Agreements (MSAs). These aren’t just standard contracts; they are the cornerstone of your business relationships. They outline how your business will work with others, what you can expect from the deal, and what, exactly, you’re responsible for.
Speaking with an experienced business lawyer from Outhier & Caruthers, PLLC can keep your business protected when things go wrong. We can draft an MSA that benefits you the most and provides you with legal recourse if a partner fails to deliver. If you’re ready to start a business in Oklahoma, or just need some advice to help your business thrive, call our Enid office today.
What’s a Master Service Agreement?
A Master Service Agreement (MSA) is a contract that outlines how you and another company will work together. It covers everything you need to know about your business relationship, like what services will be provided, when payments should be made, and what happens if things don’t go as planned. The agreement helps everyone involved understand their duties and responsibilities, which can prevent misunderstandings and keep your business relationship smooth and productive. Having a skilled business attorney create a well-drafted MSA ensures that you can focus more on the work and less on the worry and what-ifs.
What Does a Master Service Agreement Include?
The Scope of Services is a section that outlines what services will be provided and when.
The Terms of Payment specify when and how payments are to be made. Oklahoma provides guidelines in Oklahoma Statutes Title 15.
The Duration of the Agreement defines the period of the agreement, including conditions for extensions or terminations. Specific details are covered in Title 15 under contract duration and enforceability.
Confidentiality Clauses are what prevent sensitive information from being shared between parties or with other businesses. The Oklahoma Trade Secrets Act ensures that your operations stay protected from prying eyes or copycats.
The Oklahoma Dispute Resolution Act details the process for handling disagreements. The aim of your contract will be to resolve issues through negotiation or mediation before resorting to legal actions.
Termination Clauses explain how the agreement can end and what legal responsibilities each party will have if that happens.
The Value of Hiring a Business Lawyer When Drafting Your Master Service Agreements
Every business is different. That’s why a business lawyer will tailor your MSA to address the specifics of your industry and the risks that you’re likely to face. Mistakes in contracts can be costly, but our business attorneys can help you identify areas where you’re vulnerable, and suggest ways to make the terms more favorable. We can also establish clear definitions of liability and provide detailed steps for resolving disputes.
Call Outhier & Caruthers PLLC for Your Business Law Needs
If you’re ready to ensure your Master Service Agreements are legally binding and beneficial, Outhier & Caruthers PLLC can help. Our experienced business attorneys can guide Oklahoma businesses like yours to protect their interests and business relationships. Reach out today at (580) 234-6600 to see how we can help your business thrive.
