Explainer
This document serves as an explainer for the Bonterms Professional Services Agreement (PSA), a standard agreement designed to be best-practice, balanced, and open source. It outlines the benefits of using the Bonterms PSA, emphasizing its implementation via a Cover Page to streamline negotiations and preserve goodwill between parties.
Bonterms Professional Services Agreement (PSA) Explainer
If you’re reading this it likely means someone has just proposed using the Bonterms Professional Services Agreement (PSA) for your transaction. You’re either a provider of professional services or a potential customer. Either way, we appreciate the opportunity to explain why the Bonterms PSA might be the perfect starting point for your deal.
The Bonterms PSA is a Standard Agreement implemented by a Cover Page:
The Bonterms PSA is a Standard Agreement that the parties implement and modify through a Cover Page, not redlines. The PSA was drafted to meet the core needs of both the provider and customer, but the parties may modify the terms as needed to reflect their particular transaction through the Cover Page (see step-by-step guidance here).
We describe our Standard Agreements as best-practice, balanced and open source:
Best-practice? The PSA were drafted and extensively reviewed and revised by our 100-member Standard Agreements Committee of in-house and law firm lawyers. They took the task seriously. The PSA went through seven drafts across eight months of Committee work.
Balanced? The terms are designed to meet the needs of both parties and not inherently favor either.
Open source? The PSA is free to use under CC BY 4.0.
What are the benefits of using the Bonterms Standard Agreement PSA?
You skip the battle over whose form to use, preserve goodwill and move straight to negotiating the issues you really care about through the Cover Page.
We’re here to help.
We stamp every Bonterms Standard Agreement “review once, use many”. We hope you will in fact review and use the Bonterms PSA. Either way, we’d love to hear from you and answer any questions you may have at [email protected].
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