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A managed services contract strictly addresses the support area of a business, focusing on service level agreements (SLAs) and risk management. It is utilized when customers seek only support offerings. SLAs, typically included in the statement of work (SOW), detail response times and priorities and complement the main agreement. The design of a managed services contract often includes auto-renewal features to secure long-term revenue, with specific pricing and locking periods, preventing termination. This ensures stability and continuous support for the organization while meeting customer needs effectively.