Halliburton Master Service Agreement: All You Need to Know

Halliburton is a well-known global provider of products and services to the energy industry. It is one of the world`s largest oilfield services companies, serving the upstream oil and gas industry. Halliburton offers a broad range of products and services that help its clients to explore, develop, and produce oil and gas.

To conduct business with its clients, Halliburton relies on a Master Service Agreement (MSA). The MSA is an all-inclusive agreement that establishes the terms and conditions for the provision of Halliburton`s products and services to the client. The MSA governs all transactions between Halliburton and its clients and is binding on both parties.

The Halliburton MSA is a complex document that covers several aspects of the business relationship between the parties. It includes provisions that define the scope of services to be provided, the payment terms, the warranties and representations, and the liability limitations.

Scope of Services

The MSA specifies the scope of services that Halliburton will provide to the client. It outlines the responsibilities of each party and defines the timeline and deliverables for the project. The scope of services is usually tailored to the specific needs of the client and can be amended or expanded upon request.

Payment Terms

The MSA stipulates the payment terms for Halliburton`s products and services. It outlines the payment schedule, invoicing procedures, and payment methods. The payment terms are negotiated between Halliburton and the client and are based on the scope of services, project timeline, and budget.

Warranties and Representations

The MSA contains warranties and representations from Halliburton regarding the quality and performance of its products and services. Halliburton warrants that its products and services will meet the specifications and requirements set forth in the MSA. The representations and warranties also cover the intellectual property rights associated with the products and services.

Liability Limitations

The MSA sets out the limitations of liability for both Halliburton and the client. It specifies the types of damages that are recoverable and the maximum amount that can be claimed for each type of damage. The liability limitations are intended to protect both parties from excessive financial exposure in the event of a dispute.

Conclusion

The Halliburton Master Service Agreement is a critical document that governs the business relationship between Halliburton and its clients. It establishes the terms and conditions for the provision of Halliburton`s products and services and sets out the responsibilities, payment terms, warranties, and liability limitations. As a result, it is essential to understand the MSA`s provisions before entering into a contract with Halliburton. If you are considering using Halliburton`s products and services, it is advisable to seek legal advice to ensure that you fully understand the terms and conditions of the MSA.