service agreement
noun[C]
ukusCOMMERCE
anagreementbetween acompanyand acustomer,statingthat thecompanywillcheckandrepairequipmentfor anagreedpriceduring afixedperiodoftime:
Ourserviceagreementscoverfarmore thanrepairformechanicalbreakdown.
Give yourselftimetocomparequality,price, andserviceagreementselsewhere.
HR
aformalagreementbetween acompanyand anemployeein a highpositionabouttheirpayandconditionsofemployment:
Directors'serviceagreementsof more than 12months'durationcan beinspectedby anyshareholder.
ChiefexecutiveAnders Erikson has a one-yearserviceagreementwith asalaryof €170,000.