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A managed services contract focuses on support within a business, primarily encompassing service level agreements (SLAs) that manage risks associated with asset performance. Such contracts are appropriate when customers seek only support offerings. SLAs outline priorities and response times and are typically included in the statement of work (SOW), aligning with the main agreement. The design of managed services contracts usually incorporates auto-renewal to ensure long-term revenue stability, featuring pricing that establishes a locking period, thereby restricting early termination of the contract.