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Service Contracts are agreements between a customer or client and a person or company who will be providing services. For example, a Service Contract might be used to define a work-agreement between a contractor and a homeowner. Or, a contract could be used between a business and a freelance web designer.
Service contract management is a practice where the stakeholders agree on a mutual definition of what services should be provided, as well as the expected standard of quality.
Contract Management is the process of managing contracts, deliverables, deadlines, contract terms and conditions while ensuring customer satisfaction. Public and private organizations know that purchasing does not end when the contract is awarded.
Service contract management includes the processes to create and manage contractual agreements for services while ensuring consistent customer interactions across the organization. Provide a holistic view of all services a customer is subscribed to. Monitor service-level agreements and entitlements closely.
A contract is a legally enforceable agreement between adults. To be enforceable, the contract must be entered into voluntarily, have clearly agreed upon terms and conditions and demonstrate the exchange of ?consideration?.