Management ContractA Management Contract is a document used to outline the terms of an agreement to have a business managed by a third party.
This document is relevant where a Company wishes to hire an external specialist, either an individual or a Company, to manage a business it owns. Often, companies hire external managers when they lack the experience or capacity to run the business on their own, or if they want to take advantage of the Manager’s expertise in a particular area of business.
Use this Management Contract if:
- You are a company looking to hire an external manager for a business you own
- You wish to clarify the manager’s responsibilities, powers, and term of engagement
What does this document cover:
- The powers and obligations of the Manager
- The term of engagement, and payment for the Agreement
- Early Termination, Dispute Resolution, and Indemnity Terms