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A service company is a business that generates income by providing services instead of selling physical products. A good...
24/12/2021

A service company is a business that generates income by providing services instead of selling physical products. A good example of a service company is a public accounting firm. They earn revenues by preparing income tax returns, performing audit and asset services, and even doing bookkeeping work.

Many businesses hire an outside company to perform various management and administrative functions. The hired manager ma...
23/12/2021

Many businesses hire an outside company to perform various management and administrative functions. The hired manager may be a corporation, limited liability company (LLC), partnership, or other type of business entity, or an individual operating as a sole proprietorship.

Compared with using in-house employees for management functions, contracting with an outside manager has the potential to reduce costs and increase efficiency. In addition to saving the costs associated with employees, your company also may be able to avoid the costs of equipment and office space associated with such employees.

A management services agreement can include many responsibilities, such as handling your employee payroll, developing an...
22/12/2021

A management services agreement can include many responsibilities, such as handling your employee payroll, developing and managing employee benefit programs, bookkeeping and accounting, maintaining company records, processing accounts payable and receivable, securing insurance for the company, and providing advice and consulting services for any number of needs.

If the management company is only hired for a specific project, the document may be called a project management consultancy agreement, or something similar.

An important issue that arises with hiring any outside party is assuring the status of the outside party as an independe...
21/12/2021

An important issue that arises with hiring any outside party is assuring the status of the outside party as an independent contractor. The Internal Revenue Service (IRS) has complex rules for determining whether someone will be classified as an employee or as an independent contractor. This also can be an issue under state law.

The management services agreement should be carefully written to establish, as clearly as possible, independent contract...
20/12/2021

The management services agreement should be carefully written to establish, as clearly as possible, independent contractor status for the manager and its employees. IRS rules and state laws for determining independent contractor status are too complex for a comprehensive discussion here. However, consideration will be given to the degree of control the company has over the manager, and the degree of control the manager has over the company. A company may hire an independent contractor to do a certain job, but if the company gets too involved in dictating how the job is done, the relationship may be determined to be that of employer-employee.

A management services agreement is typically prepared by the management company. It will include provisions common to al...
19/12/2021

A management services agreement is typically prepared by the management company. It will include provisions common to all business contracts, such as the names of the parties, the effective date and duration of the contract, choice of law, arbitration of disputes, remedies for breach of the agreement, liability for attorney fees, prohibiting oral modification of the agreement, etc. It also may contain provisions covering various other matters

management services agreement is usually a complex and lengthy document, you may want to consider having an attorney ass...
18/12/2021

management services agreement is usually a complex and lengthy document, you may want to consider having an attorney assist with preparing the agreement, to be sure that all the details and responsibilities are clearly set out in the document.

Ready to start your Management Services Agreement?

Managed cloud services are services that offer partial or complete management of a client's cloud resources or infrastru...
17/12/2021

Managed cloud services are services that offer partial or complete management of a client's cloud resources or infrastructure. Management responsibilities can include migration, configuration, optimization, security, and maintenance.

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