INTRODUCTION

A contract is an agreement between two or more parties, intended to bind them for a specific purpose, such as a sale and purchase or a tenancy. While contracts are common and widely used across all sectors, technology contracts are unique in several important ways. Unlike sale and purchase or tenancy agreements, which are largely grounded in legal principles, technology contracts bridge both legal and technology domains.

Technical knowledge, including specifications, project requirements and service levels, is essential when dealing with technology contracts. As each project is unique, the relevant contract(s) must be tailored to suit the specific needs of the parties. Therefore, understanding the project requirements and the interests of all parties involved is crucial.

From the Non-Disclosure Agreement (NDA), which often marks the beginning of contractual relationships in technology-related transactions, to the project delivery, typically governed by a master or framework agreement such as Professional Services Agreement, Cloud Services Agreement, Hardware Supply Agreement, Software Development Agreement, Managed Services Agreement or System Agreement, it is important to ensure that all fundamental clauses are included in the contract to protect the parties involved.