Loading
Documentation
A blank, fillable Master Service Agreement with a matching Statement of Work annexure, covering payment terms with the MSMED 45-day cross-check, present-tense IP assignment, mutual indemnity, liability caps, and termination for a services engagement governed by Indian law.
Prefer we just handle this for you instead of doing it yourself?
One Master Service Agreement, signed once, and a Statement of Work annexure you fill in fresh for each project after that. The MSA carries payment terms, IP ownership, confidentiality, liability, indemnity, termination, and dispute resolution. The SOW stays narrow: scope, deliverables, timeline, and price for a single engagement.
If your counterparty is registered as a micro or small enterprise under Udyam, section 15 of the MSMED Act, 2006 caps the real payment deadline at 45 days from acceptance, regardless of what the contract says. Medium enterprises hold Udyam registrations too but sit outside this rule. A negotiated 90-day term isn't struck down, it just doesn't move that deadline, and section 16 attaches compound interest from day 46. The template flags this wherever the payment-terms field runs longer than 45 days.
The full mechanics are in our dedicated post, MSME 45-Day Payment Protection Explained; a supplier chasing an overdue payment can start with our MSME delayed-payment demand notice template.
Fill in the recitals and the numbered clauses once, when you sign the MSA with a new client or vendor. Every project after that only needs a new SOW: complete Annexure A, keep the MSA terms as they are, and reference the same Agreement.
Read the drafting note next to each clause before you fill it in. Each one explains what the statute actually does. Have the finished agreement reviewed before either party signs.
Want this drafted from your actual engagement details instead?
Want help adapting this for your specific business?
Get it done for you
Hand it to Buildwright — we handle the drafting, filing and compliance end to end.
Free templates & checklists
Ready-to-use starting points — no email required.
Learn the details
Guides that walk through every step.
Get new templates and compliance updates by email.
Buyers of goods or services from an Udyam-registered MSME supplier must pay within 45 days of acceptance (or 15 days if there's no written agreement), or face compound interest at 3x the RBI-notified bank rate with monthly rests — a penalty that overrides any contract clause to the contrary.