sow
Definition
SOW stands for Statement of Work, which is a document that spells out exactly what a contractor or vendor will do for you, when they will do it, and how much it will cost. Think of it as the detailed blueprint for a business agreement that turns vague promises into specific, written commitments.
Example
If you hire a web design agency to build your company website, the SOW would specify exactly how many pages they will create, what features they will include, and the deadline for delivering a finished product.
Watch Out
A vague or incomplete SOW is one of the most common reasons business relationships fall apart, so make sure every deliverable, deadline, and expectation is written out in plain detail before any work begins.
See which terms appear in your contract?
This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.