Legal Agreement is a document signed between the parties which define the scope & limitation of the venture undertaken by them together along with the Rights, Interests, Duties & Obligations of both the parties. Provenience helps you to understand the importance & necessity along with the drafting & Signing of three basic service agreement required for running any business. A brief of such agreements is mentioned below:
Employment Contract: An employment contract is a document that is signed between the employer and the employee. This agreement clearly defines all the aspects related to the employment laying down the rights, duties, interests & responsibilities of both the employer & the employee during such tenure of employment.
Service Level Agreement: It is an agreement executed between the Service Provider & the Service Recipient defining the terms & Conditions of the Service to be provided. It provides clarity with respect to the scope of services, manner of providing services and fees to be charged for such services in order to ensure smooth working & avoidance of any future dispute.
Non-Disclosure Agreement: Non-Disclosure Agreement usually referred as NDA is executed merely for the purpose of securing the confidentiality of any sensitive or material information with respect to any Business Organisation, business Idea and any other business perspective shared with any person as part of receiving services from a person or undertaking any project with that person.
It provides an understanding of the scope of services and activities to be undertaken while entering into any transaction with a person.
Clearly defines the rights & interests along with the duties & obligations of both the parties entering into such agreement.
Avoid future disputes to the maximum possible extent by covering significant terms & conditions of the transaction or service to be undertaken by the parties together.