DRJ Fall 2019

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Volume 32, Issue 3

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Recovery Services Agreement / Contract

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TermDefinition
Recovery Services Agreement / Contract
A contract with an external organization guaranteeing the provision of specified equipment, facilities, or services, usually within a specified time period, in the event of a business interruption. A typical contract will specify multiple components (e.g., a monthly subscription fee, a declaration fee, usage costs, method of performance, amount of test time, termination options, penalties and liabilities).