A master services agreement (MSA) sets out the commercial and legal foundation of a business relationship on a lasting basis.
What it covers. Liability, confidentiality, IP, payment terms, rate card, term and termination.
Related term. Framework agreement is more common in public procurement and for goods; MSA dominates private-sector services.
Value. Reduces negotiation effort per engagement.
Risk. Without precise SoWs, scope definition shifts entirely into delivery.