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The statement of work (SOW) is a legally binding document that captures and defines all the work management aspects of your project. You'll note the activities, deliverables and timetable for the project.

Why Use a Statement of Work Template? A statement of work or SOW, is a legally binding agreement between a client and a vendor, service provider or any party executing a project. It basically defines the scope of work, and the agreed-upon conditions before the project start.

A statement of work means all provisions of a contract that describe the services or work to be performed or products to be delivered by a contractor, subcontractor, or agency, as specified in the document. A statement of work's products may include any related technical specifications, deadlines, or deliverables.

Both MSAs and SOWs are used in service transaction contracts. The major difference between them is that, while an MSA sets the legal framework for the relationship between contracting parties, an SOW deals with specific projects or transactions.

It may include an outline of the extent of the work, a brief overview of the steps of the project, a brief description of the methodology to be used, and a description of the location of the work. a. Tasks are activities and milestones that should be completed to accomplish the contract objectives.

A statement of work is legally binding, but it is not the final, formal contract signed at the end of the contracting process. It can be thought of as the formal foundation of a final contract.

A SoW is not legally binding. As such, it is often accompanied by a formal legal contract that outlines the specifics of an agreement such as the parties, terms, reporting requirements, payment obligations, etc.