Some of these restrictions relate to the control that an external manager may have over a company. Be sure to sign a copy of the agreement for your documents and a second copy for the other party. For privacy reasons, the management company must very often have access to information about your company that you do not want to disclose to your competitors or the public. This requires a confidentiality and confidentiality clause in the agreement. A service management contract can include many responsibilities, such as. B the settlement of your employee accounts, the development and management of employee pension programs, accounting and accounting, the management of company documents, the processing of lenders and receivables, the securing of insurance for the company and the provision of consulting and advisory services for a wide range of needs. Compared to using internal staff for management functions, contracting with an external manager has the potential to reduce costs and improve efficiency. In addition to reducing employee costs, your company can also avoid the equipment and office costs associated with those employees. There can be many benefits to hiring an external management company for your business. In order to ensure the smooth running of the agreement, such an agreement should be formalised by a service management contract. This can also be called the administrative services agreement. A service management contract is usually prepared by the management company. It will include provisions common to all business contracts such as the names of the parties, the date and duration of the entry into force of the contract, the choice of law, the conciliation of disputes, remedies in case of infringement, liability for lawyers` fees, the prohibition of oral amendments to the agreement, etc.