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A managed services contract is a support-focused agreement that addresses service level agreements (SLAs) and risk management related to service delivery. It is utilized when a client seeks only support offerings. The SLA is detailed in the Statement of Work (SOW) and defines priorities and response times, aligning with the primary agreement. The design of a managed services contract includes auto-renewal provisions to secure long-term revenue, typically featuring a locking period that restricts termination. Understanding these elements is crucial for effectively managing support services and ensuring contractual compliance.