Definition of Service contract:
A business agreement between a contractor and customer covering the maintenance and servicing of equipment over a specified period.
Agreement whereby a contractor supplies time, effort, and/or expertise instead of a good (tangible product).
How to use Service contract in a sentence?
- In order to avoid unexpected maintenance costs, a company will often purchase a service contract for expensive or complex machinery since the contract has a defined cost and time period.
- The service contract was signed by the men and everything was ready to go and everyone was ready to begin their duties.
- You should always make sure you have a binding service contract before you do business with someone you do not know.
- An annual service contract to inspect the heating system could also serve to lower rates.
Meaning of Service contract & Service contract Definition