What is a service agreement?


Quick Answer

A service agreement is a contract between two parties to provide a service in exchange for a payment. The agreement defines the specifics of the service. Time is often spent negotiating before the terms are set and the agreement is finalized.

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Full Answer

Service agreements may also be included as a standard part of a sale, such as a warranty. This type of agreement is common when purchasing appliances, cars and electronics. Developing or reviewing service agreements may require the assistance of a lawyer. Any contract may lead to legal disputes due to error in the contract, failure to provide service or compensation.

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