What is Master Service Agreement (MSA)?

A contract reached between parties, in which the parties agree to most of the terms that will govern future transactions or future agreements. It is also sometimes referred to as a “framework agreement”. An MSA is a common feature of an MSP arrangement and typically specifies generic terms such as payment terms, intellectual property ownership, dispute resolution, and liabilities and indemnities in respect of a breach. The detail of the parties’ obligations will be set out in schedules or Service Level Agreements to the MSA. This ensures that key contract provisions are uniform and saves time.