Contracts and Agreements (Sari Greene)

Question 1

SLA

Answer 1

A Service-level
Agreement (SLA)
codifies service
and support
requirements
and may include
incentives
and/or penalties.

An SLA is a contract between a service provider and a customer that spec

Question 2

MSA

Answer 2

A Master Setvices
Agreement (MSA)
outlines general
terms and
conditions. It serves as a
framework for
future agreements or
projects between the
parties.

An MSA is a contract between two parties that establishes the terms and

Question 3

SOW

Answer 3

A Statement of Work (SOW)
defines tasks,
deliverables,
timelines, and
performance expectations for a particular
project or engagement between a client
and a service
provider

An SOW is a document that outlines the specifics of a project or service

Question 4

WO

Answer 4

A Work Order is
transactional and used for
individual service requests, often
within the context of ongoing business
relationships.

A WO is a document issued for the initiation of a job or task. It includ

Question 5

NDA

Answer 5

A Non-disclosure Agreement (NDA) establishes
ownership and
protects information
from unauthorized
disclosure and use during and
post
relationship.

An NDA is a legal contract between parties to ensure that confidential i

Question 6

MOU

Answer 6

A Memorandum of Understanding
(MOU) is a non- binding
document that
outlines the
intentions and areas of cooperation between two parties.

An MOU is a non-binding agreement between two or more parties outlining

Question 7

MOA

Answer 7

A Memorandum of Agreement
(MOA) is a legally enforceable
document that establishes a
contractual
relationshipbetween parties.

An MOA is similar to an MOU but is often more formal and can be legally

Question 8

BPA

Answer 8

A Business Partner
Agreement (BPA) is
a comprehensive
legal document
that outlines the
terms and
conditions of a
relationship
between two or
more businesses
or entities.

A BPA is a contract between two or more business entities that outline t