Agreement types

Contracts between companies that want to purchase or sell services are very common as they protect both partners participating in the contract. We will now look at different agreement types that may be used in those contracts.

  • Business Partnership Agreement (BPA): A BPA is used between two companies who want to participate in a business venture to make a profit. It sets out how much each partner should contribute, their rights and responsibilities, the rules for the day—to—day running of the business, who makes the decisions, and how the profits are agreed and shared. It also has rules for the partnership ending either over time or if one of the partners dies.
  • Service—Level Agreement (SLA): A SLA is a contract between a service ...

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