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The main purpose of this agreement is to help investors of some hotels who lack the skill and knowledge needed to operate them. They are mere businessperson with good financial status. They lack experience or expertise in such field. Therefore, they need the assistance of such management companies who can get the output of their investment. [10]
An engagement letter defines the legal relationship (or engagement) between a professional firm (e.g., law, investment banking, consulting, advisory or accountancy firm) and its client(s). This letter states the terms and conditions of the engagement, principally addressing the scope of the engagement and the terms of compensation for the firm.
The master service agreement serves as a master contract governing the terms over potentially multiple SOWs. Sometimes it refers to scope of work. For instance, if a project is done on contract, the scope statement included as part of it can be used as the SOW since it also outlines the work of the project in clear and concise terms.
This master agreement can be used to mediate employer-employee conflict in the workplace by having a reference point to work out solutions and set specific terms. Contracts are often negotiated as a unified master service agreement and statement of work , such as with information technology service providers .
[53] [54] While he and other partners had been pitching McKinsey's consulting services to the Galleon Group, Kumar and Rajaratnam reached a private consulting agreement, violating McKinsey's policies on confidentiality. [55] Gupta was convicted in June 2012, of four counts of conspiracy and securities fraud, and acquitted on two counts. [56]
The plea agreement comes weeks after Smirnov was indicted in a separate case involving federal tax charges, including concealing more than two million dollars in income he received from multiple ...
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