Service contract

Service contract,

Definition of Service contract:

  1. A business agreement between a contractor and customer covering the maintenance and servicing of equipment over a specified period.

  2. Agreement whereby a contractor supplies time, effort, and/or expertise instead of a good (tangible product).

How to use Service contract in a sentence?

  1. 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.
  2. The service contract was signed by the men and everything was ready to go and everyone was ready to begin their duties.
  3. You should always make sure you have a binding service contract before you do business with someone you do not know.
  4. An annual service contract to inspect the heating system could also serve to lower rates.

Meaning of Service contract & Service contract Definition