A master agreement is a document that outlines the terms and conditions of an agreement between two or more parties. This Master Agreement for Business Members also covers the following electronic Cash Management services.Section 2.01 Closing Transactions. The obligations of the City to make the payments and any other obligations of the City under the City Purchase. Agreement (unless the Member elects to opt out through written notification). Contract Type: Bench Master Services Agreement. Time is of the essence of this Master Contract and each Task Order. Professional shall complete all. Agreement are defined or set out in Schedule 1 (Interpretation). 1.1.2. The Schedules form part of this Agreement and any reference to this Agreement.