Lawyer
Expert in corporate and international corporate law. Has extensive experience in supporting the acquisition of financial licenses in Ukraine, as well as business incorporation in the EU, the United Kingdom, Switzerland, the UAE, and key Asian jurisdictions.
Development of MSA contracts
MSA (Master Service Agreement, hereinafter – MSA contracts/agreements), or Service Agreement, is a key element for many companies.
Ukrainian companies and not only, especially in the field of IT services, consulting, finance, and innovation, increasingly understand the importance of MSA agreements to ensure stability and transparency in relations on the economic market.
MSA contracts, by their nature, determine the basic terms of cooperation between companies, with clients and partners, providing for the provision of relevant services.
Entering into an MSA agreement is an effective way to reduce the time spent on concluding separate agreements each time the need arises in the course of the company’s operations. Having such an agreement allows the parties to start cooperation faster, which makes business processes more efficient.
The peculiarity of MSA agreements in Ukraine currently is as follows:
- First, they are based on national legislation. The process of concluding MSA agreements is closely related to the analysis of the requirements to which the agreement must comply, contained in civil law;
- Second, MSA agreements can be concluded in different languages for convenience. Therefore, they can be written both in the native language of the counterparty (company) and in the language of international communication (English);
- Third, during the conclusion of the MSA agreement, great attention is paid to the proper settlement of the issue of protecting the confidentiality of counterparties. The specified conditions must comply with the requirements of national legislation on the issue of privacy and protection of personal data and GDPR (if the company plans to expand to the EU market).
In the modern and changing world of MSA business, contracts are becoming an important part of the risk management and development strategy of the respective enterprise.
A properly drafted MSA agreement can help avoid misunderstandings and conflicts in the future, ensuring successful cooperation between its parties.
Qualified lawyers of the “Prikhodko and Partners” law office will help in the development of MSA agreements, which will meet the requirements of the laws, for each specific request of the client.
In particular, the specialist will be able to provide a full range of legal services, which will include:
- Providing legal opinions on the MSA agreement on its compliance with the requirements of the law, completeness, and specificity. The standard MSA content of the contract to be analyzed should contain clear regulations of the following items: services provided by the company, terms of validity, terms of termination, cost of providing services, methods of payment, rules regarding confidentiality, information protection, list of rights and obligations of the parties, the conditions for the onset of liability of the parties, resolution of disputes and conflicts between the parties, etc.
- Filling and preparation of the appropriate sample of the MSA agreement for a specific request.
Conclusions.
MSA contracts are an important tool for business, which simplifies the process of concluding agreements on the provision of services in the future and ensures stability in relations between enterprises, customers, and partners.
The contract professionally developed by MSA will become an important and effective component of the company’s management and development strategy in the course of its operational activities.
By contacting the lawyers of Prikhodko and Partners JSC, the client receives not only support but also full preparation of a sample MSA agreement for his specific request.
For Ukrainian companies, especially those operating in international markets, MSA agreements will become a key tool in the development of successful and efficient business.
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Have you been in business before?
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Have you worked on developing MSAs before?
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Have you had experience working with GDPR requirements while developing MSA agreements?
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