Services agreement Definition

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GLOSSARY

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What does Services agreement mean?

An agreement whereby a supplier agrees to provide specified service(s) to a customer in return for payment of a fee.

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Commercial contract review and execution (business personnel)—checklist

Commercial contract review and execution (business personnel)—checklist This is a Checklist for in-house lawyers to provide to those of its employees (eg procurement or sales professionals) who are engaged in negotiating commercial contracts. It sets out the primary issues to consider when negotiating or reviewing a business-to-business commercial contract, and includes practical guidance. This Checklist may be suitable for use in low risk contracts where employees who are not legally qualified are authorised to conduct negotiations and contract review. It may be customised as required to work with a company playbook on contract negotiation and review, to include suggested fall-back drafting positions and escalation points for recourse to a legal team as appropriate. As it is intended to be used by non-legal professionals, it does not include links to further detailed legal commentary in each case. For a Checklist intended for use by legal professionals with links to further information, see: Commercial contract drafting and review—checklist. In-house lawyers should check that business personnel engaged in negotiating and concluding commercial contracts...

Sub-contract agreement—checklist

Sub-contract agreement—checklist This Checklist is for use when drafting a sub-contract agreement for a main contractor, or prime contractor, using a sub-contractor to perform certain obligations under the main or prime contract. It is suitable for use when drafting a sub-contract for a commercial transaction for the supply of goods and services, or other generic commercial activities, but is not suitable for a construction sub-contract or for sub-contracting consultancy services. For an example agreement suitable for use as a sub-contract for a commercial transaction for the supply of goods and services, or other generic commercial activities, see Precedent: Sub-contract agreement. For a more detailed examination of the legal and practical matters when entering into a subcontract or when granting permission to subcontract, see Practice Note: Subcontracting. Initial matters • Check that the parties named in the contract are correct. If there is more than one company in a corporate group, check that the company entering into the contract is the appropriate group entity • Check whether sub-contracting under the main...

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JCT contracts 2016—what's changed? [Archived]

JCT contracts 2016—what's changed? [Archived] ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note brings together our content on the changes made in the 2016 editions of the Joint Contracts Tribunal (JCT) standard form construction contracts. Publication of the 2016 editions The 2016 editions of the JCT standard form contracts were published as follows: Date Contracts published 15 June 2016 Minor Works Building Contract family (MW, MWD and MWSub/D) 20 July 2016 Short Form of Sub-Contract (ShortSub)Sub-subcontract (SubSub) 22 September 2016 Design and Build family (DB, DBSub/A and DBSub/C) 31 October 2016 Standard Building Contract family (SBC/Q, SBC/AQ, SBC/XQ, SBCSub/A, SBCSub/C, SBCSub/D/A and SBCSub/D/C) 21 November 2016 Collateral Warranties (CWa/F, CWa/P&T, SCWa/E, SCWa/F and SCWa/P&T) 7 December 2016 Intermediate Building Contract family (IC, ICD, ICSub/A, ICSub/C, ICSub/D/A, ICSub/D/C, ICSub/NAM, ICSub/NAM/C, ICSub/NAM/E) 30 March 2017 Constructing Excellence Contract (CE)Consultancy Agreement (Public Sector) (CA)Framework Agreement (FA)Major Project Construction Contract family (MP and MPSub)Measured Term Contract (MTC)Pre-Construction Services Agreement (PCSA and PCSA/SP)Prime Cost...

Setting up a panel of preferred legal services suppliers

Setting up a panel of preferred legal services suppliers This Practice Note provides guidance on the key steps to follow by an in-house legal team when creating a panel of external preferred legal services suppliers. It assumes that a considered decision has been made to outsource some or all legal work in an organisation. It also assumes that the organisation is a private sector organisation incorporated in England and Wales and is not subject to public sector procurement rules. This Practice Note suggests a logical process to guide you through the legal outsourcing process. It is supported by various Precedents and tools. Step 1: Assemble a procurement project team The first step is to put together a legal services procurement team to lead and manage the project. This team should ideally be small (maximum six people) to avoid it becoming unwieldy. The engagement and support of business stakeholders for the project is critical to its success. It is worth identifying your key stakeholders within the organisation...

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Precedent signing and closing memorandum for a commercial mortgage-backed securities transaction

Precedent signing and closing memorandum for a commercial mortgage-backed securities transaction A Signing and Closing Memorandum is required to assist the smooth execution of a complex transaction. This precedent signing and closing memorandum sets out steps to be taken in order to close a commercial mortgage-backed securities (CMBS) transaction. Additional documents or steps may be required depending on the specific transaction. [ISSUER] [CURRENCY][AGGREGATE AMOUNT] CLASS [A] NOTES DUE [•] AND [CURRENCY] [AGGREGATE AMOUNT] CLASS [B] NOTES DUE [•] (THE NOTES) SIGNING AND CLOSING MEMORANDUM 1 Parties involved in the transaction THE PARTIES Issuer [●] Holdings [●] Originator [●] Arranger [●] Manager [●] Trustee [●] Security Trustee [●] Paying Agent [●] Account Bank [●] Cash Manager [●] Servicer [●] Special Servicer [●] Swap Counterparty [●] Liquidity Facility Provider [●] Registrar [●] Corporate Services Provider [●] [Listing Agent] [●] Listing Authority [●] Stock Exchange [●] [Rating Agencies] [●] Euroclear Euroclear Bank SA Clearstream Clearstream Banking, societe anonyme Common Depositary [●] Auditor [●] Valuer [●] Issuer's Counsel...

Precedent signing and closing memorandum for a residential mortgage—backed securities transaction

Precedent signing and closing memorandum for a residential mortgage—backed securities transaction A Signing and Closing Memorandum is required to assist the smooth execution of a complex transaction. This precedent signing and closing memorandum sets out steps to be taken in order to close a residential mortgage-backed securities (RMBS) transaction. Additional documents or steps may be required depending on the specific transaction. [ISSUER] [CURRENCY][AGGREGATE AMOUNT] CLASS [A] NOTES DUE [•] AND [CURRENCY] [AGGREGATE AMOUNT] CLASS [B] NOTES DUE [•] (THE NOTES) SIGNING AND CLOSING MEMORANDUM 1 Parties involved in the transaction THE PARTIES Issuer [●] Holdings [●] Originator [●] Arranger [●] Manager [●] Trustee [●] Security Trustee [●] Paying Agent [●] Mortgage Administrator [●] Standby Mortgage Administrator [●] Special Servicer [●] Cash Manager [●] Account Bank [●] Swap Counterparty [●] Liquidity Facility Provider [●] Registrar [●] Corporate Services Provider [●] [Listing Agent] [●] Listing Authority [●] Stock Exchange [●] Rating Agenc[Rating Agencies] [●] Euroclear Euroclear Bank SA Clearstream Clearstream Banking, societe anonyme Common Depositary [●]...

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