A Master Service Agreement is a contractual agreement entered into between two parties, one being a service provider and other a service receiver, agreeing to terms and conditions governing all the long term transactions between them. Contracts in the nature of Master Service Agreements are useful when there are a large number of transactions being undertaken between both the parties and it is not possible to have a separate agreement for each activity.  The major elements in a Master Service Agreement are scope of work, duties and obligations of both the parties, termination, confidentiality, non-compete, etc.