We discuss possible Web Service Management CWSM) and Web Service Composition Management (WSCM) applications of the Web Service Offerings Language (WSOL) and how the language supports these applications. WSOL is a novel language for the formal specification of classes of service, various constraints (functional constraints, Quality of Service - QoS, and access rights), and management statements (subscription and pay-per-use prices, monetary penalties, and management responsibilities) for Web Services. Describing a Web Service in WSOL, in addition to the Web Services Description Language (WSDL), enables monitoring, metering, and management of Web Services. Metering of QoS metrics and evaluation of constraints can be the responsibility of the provider Web Service, the consumer, and/or one or more mutually trusted third parties (SOAP intermediaries or probes). Further, manipulation of classes of service (switching, deactivation/reactivation, and dynamic creation) can be used for dynamic (i.e., run-time) adaptation and management of Web Service compositions.