WHAT ARE THE TYPES OF SOFTWARE DEVELOPMENT AGREEMENT?
The different types of software development agreements are as follows:
- Time and Materials Contract- In this type of agreement it requires a client to pay a software developer according to the number of hours worked.
- Fixed Budget Contract- In this type of agreement the budget is clearly defined and agreed upon and the scope of work remains flexible so as to allow the developer to deliver best results within the limited budget.
- Fixed Budget with Bonus- This is similar to a fixed budget contract but it offers incentive for faster delivery of the work. This type of contract is perfect for clients under strict deadline.
WHAT CLAUSES MUST BE INCLUDED IN A SOFTWARE DEVELOPMENT AGREEMENT?
Some important clauses in a software development contract should include:
- Confidentiality
- Source Code Escrow
- Intellectual Property Rights
- Testing and Maintenance
- Training
CONCLUSION
Software companies are constantly trying to develop new software and upgrade the existing ones, to provide the end users with better experience. So it is very important to frame a well drafted software development and maintenance agreement for companies who are into creating technology solutions, to avoid any potential risks and carry out their business with ease.
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