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What is a PSA agreement?

A PSA is typically used with attorneys, accountants, and other legal and financial service providers. An Independent contractor services agreement is used with programmers, engineers, product developers, IT, marketing and sales consultants.

What is a professional service agreement?

A PSA is a legally binding contract that outlines the terms, scope, payment, and responsibilities between a business and a service provider. It prevents disputes by clearly defining: Whats being done (scope of work) How much is being paid (fees, invoicing, late payment penalties)

What is a professional services agreement?

Key elements of a professional services contract Scope of work. This is one of the most important sections. Timelines. Include the project start date, important milestones, and the final delivery deadline. Payment Terms. Clearly state how and when payments will be made. Confidentiality. Liability. Termination Clauses.

What is the difference between a professional services agreement and an independent contractor agreement?

A PSA may be used for a one-time project or a short-term engagement. An MSA, on the other hand, is a broader type of agreement that sets forth the general terms and conditions under which a professional or service provider will work with a client.