Definition
A contract between an HOA and a service provider setting the scope, cost, term, and responsibilities of the work.
A vendor agreement is the contract governing a service the association buys — landscaping, pool maintenance, management, and so on. A clear agreement defines the scope of work, price, term, insurance requirements, and how either party can end it.
Good vendor contracts protect the community by setting expectations in writing and requiring proof of insurance. Boards should keep agreements organized and review them before renewal so services and pricing stay competitive.