Master Service Agreements in the Oilfield Services Industry
February 15, 2017
| Kristos J. Iatridis, Darrell R. Peterson and Geoffrey P. Stenger
Master Service Agreements are commonly used as a means of negotiating and entering into commercial agreements for the provision of services and goods. Even within this simplified framework, most parties recognize that the negotiation of these agreements will usually come down to a few key clauses, being:
- Warranties and Remedies;
- Liability and Indemnification;
- Intellectual Property;
- Insurance; and
- Health and Safety matters.
We are pleased to announce that Bennett Jones was recently involved in assisting the Petroleum Services Association of Canada (PSAC) in preparing PSAC’s 2017 template Master Service Agreement and Handbook of Model Clauses. PSAC’s publication is designed to be a practical reference tool for clients and industry participants who commonly find themselves entering into Master Service Agreements and other agreements that include these common commercial provisions.
If you have any questions relating to Master Service Agreements or anything else relating to commercial agreements in the oilfield services industry, please contact Kristos Iatridis, Darrell Peterson or Geoffrey Stenger.