By separating the "legal rules" from the "project specifics," the PSA creates an efficient, scalable environment for professional collaboration. Here is a professional breakdown of how the agreement functions operationally.
1. The Specification of Services
The SOW defines the "What." It provides a granular description of the Services to be performed. This protects both parties by ensuring there is no "scope creep"—the Contractor knows exactly what they are responsible for, and RWI knows exactly what they are paying for.
2. The Service Fee
The PSA itself does not list a dollar amount. Instead, it refers to the Service Fee listed in the SOW.
Fixed vs. Milestone: The SOW determines if the fee is a flat rate for a project or split into milestones.
Platform Alignment: These fees are programmed into the Rise Pay platform, ensuring the digital invoice matches the SOW exactly.
3. The Payment Schedule
The SOW establishes the Payment Schedule, which dictates the timing of fund releases. This creates a performance-based relationship:
Payments are typically tied to the "Review and Approval" process.
If a project is time-based, the SOW will list the Term (start and end dates). If it is project-based, it will define the Completion criteria.
4. Integration with the PSA
Per the "Definitions" section of your agreement, "Each SOW shall be governed by the terms and conditions of this Agreement." This is crucial because it means:
You don't have to repeat the "Independent Contractor" or "Confidentiality" clauses in the SOW.
If a dispute arises regarding an SOW, the "Governing Law" (Ohio) and "Dispute Resolution" clauses in the PSA automatically apply.
Got questions? Don’t hesitate to contact our dedicated team at hello@riseworks.io