A management agreement is a kind of an agreement which is made in the case when a person or party called the client hires another person or party, known as the management company to carry out certain kind of a management task for a fixed duration of time. The client then pays the management company for the management services extended. The management agreement is used to talk about the details of the management, commencement date of agreement, termination date of agreement, amount to be paid for management and the terms and conditions of the agreement.
Any management agreement is a legally enforceable document, the violation of the terms of which may create a problem for the party at fault. The violation of the terms may also lead to the termination of the agreement prematurely. A few examples of management agreements include team management agreement, building management agreement, construction management agreement etc.
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