1 hr 6 min
020 - Mastering MSAs with Molly Pela The Land Department
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- Management
Effectively navigating Master Service Agreements can be the key to a successful business deal and foster successful long-term partnerships. Join us with Molly Pela for a comprehensive rundown of what you need to know to master MSAs.
Time Stamps
00:30 - Episode & Guest Intro02:59 - Understanding MSAs06:29 - Advantages of Doing MSAs09:50 - When Not to Do MSAs11:12 - Disadvantages & Potential Pitfalls12:47 - The Role of MSAs in Land Services13:05 - One-sided Dynamics of MSAs with Larger Companies18:55 - MSA Checklist for Drafting/Reviewing19:20 - Term21:24 - Scope of Work25:00 - Performance Metrics29:32 - Payment & Billing32:42 - Warranties35:33 - Understanding Warranties in Business36:03 - Change Orders39:43 - Understanding Force Majeure39:43 - Force Majeure41:08 - Termination42:43 - Liability and Indemnification46:08 - Lien Language47:47 - Confidentiality48:23 - The Importance of Non-Compete Clauses51:24 - Dispute Resolution56:30 - The Importance of Non-Solicitation Clauses58:17 - Schedule of Attachments58:26 - Insurance59:37 - Work Orders01:03:19 - Conclusion & Takeaways
Snippets From the Episode
"An MSA provides a framework or a backdrop for two businesses to do business and have many deals kind of on a rolling basis. So it's setting a baseline." - Molly Pela"An MSA allows work to flow much faster. I don't need to tell you guys, time is money, particularly in the oil patch. So it allows for that efficiency and allows a little real world acknowledgement that things move quickly." - Molly Pela"An MSA defines the rules of the game, just simply, right? This is how we're going to play. This is what I expect of you and what you should expect of us." - Brent Broussard"Everybody needs to play by the same rules because then we know how to move forward and what's gonna happen." - Molly Pela"I'm a firm believer that your contract, you should mean what you say, say what you mean." - Molly Pela
Resources
Navigating the Master Services AgreementNeed Help With A Project? Meet With DudleyWatch On YoutubeFollow Dudley Land Co. On LinkedInHave Questions? Email us
More from Molly Pela
Connect with Molly on LinkedInOliva Gibbs LLP website
More from Our Hosts
Connect with Brent on LinkedInConnect with Khalil on LinkedIn
Effectively navigating Master Service Agreements can be the key to a successful business deal and foster successful long-term partnerships. Join us with Molly Pela for a comprehensive rundown of what you need to know to master MSAs.
Time Stamps
00:30 - Episode & Guest Intro02:59 - Understanding MSAs06:29 - Advantages of Doing MSAs09:50 - When Not to Do MSAs11:12 - Disadvantages & Potential Pitfalls12:47 - The Role of MSAs in Land Services13:05 - One-sided Dynamics of MSAs with Larger Companies18:55 - MSA Checklist for Drafting/Reviewing19:20 - Term21:24 - Scope of Work25:00 - Performance Metrics29:32 - Payment & Billing32:42 - Warranties35:33 - Understanding Warranties in Business36:03 - Change Orders39:43 - Understanding Force Majeure39:43 - Force Majeure41:08 - Termination42:43 - Liability and Indemnification46:08 - Lien Language47:47 - Confidentiality48:23 - The Importance of Non-Compete Clauses51:24 - Dispute Resolution56:30 - The Importance of Non-Solicitation Clauses58:17 - Schedule of Attachments58:26 - Insurance59:37 - Work Orders01:03:19 - Conclusion & Takeaways
Snippets From the Episode
"An MSA provides a framework or a backdrop for two businesses to do business and have many deals kind of on a rolling basis. So it's setting a baseline." - Molly Pela"An MSA allows work to flow much faster. I don't need to tell you guys, time is money, particularly in the oil patch. So it allows for that efficiency and allows a little real world acknowledgement that things move quickly." - Molly Pela"An MSA defines the rules of the game, just simply, right? This is how we're going to play. This is what I expect of you and what you should expect of us." - Brent Broussard"Everybody needs to play by the same rules because then we know how to move forward and what's gonna happen." - Molly Pela"I'm a firm believer that your contract, you should mean what you say, say what you mean." - Molly Pela
Resources
Navigating the Master Services AgreementNeed Help With A Project? Meet With DudleyWatch On YoutubeFollow Dudley Land Co. On LinkedInHave Questions? Email us
More from Molly Pela
Connect with Molly on LinkedInOliva Gibbs LLP website
More from Our Hosts
Connect with Brent on LinkedInConnect with Khalil on LinkedIn
1 hr 6 min