Business and knowledge process outsourcing has emerged as a key growth driver in the Indian services sector. Discuss the factors to be considered in drafting of an outsourcing agreement.

Outsourcing may be understood as the contracting out of a company's non-core or non revenue producing activities to specialist. It is strategic management tool. The conditions or factors to be considered in drafting an outsourcing agreement are as follows: Duties and obligations of outsourcer Security and confidentiality Legal Compliance Fees and payment terms Proprietary rights Auditing rights Applicable laws, jurisdiction and arbitration Term of the agreement Interim measures/provisional remedies Privacy and non-compete agreement Survival terms Default terms