Configuring the below values solved the problem for me.
Client Config:
<system.serviceModel>
<bindings>
<basicHttpBinding>
<binding name="BasicHttpBinding_IManagementService" closeTimeout="00:01:00"
openTimeout="00:01:00" receiveTimeout="00:10:00" sendTimeout="00:01:00"
allowCookies="false" bypassProxyOnLocal="false" hostNameComparisonMode="StrongWildcard"
maxBufferSize="2147483647" maxBufferPoolSize="524288" maxReceivedMessageSize="2147483647"
messageEncoding="Text" textEncoding="utf-8" transferMode="Buffered"
useDefaultWebProxy="true">
<readerQuotas maxDepth="128" maxStringContentLength="2147483647"
maxArrayLength="16384" maxBytesPerRead="4096" maxNameTableCharCount="16384" />
<security mode="None">
<transport clientCredentialType="None" proxyCredentialType="None"
realm="" />
<message clientCredentialType="UserName" algorithmSuite="Default" />
</security>
</binding>
</basicHttpBinding>
</bindings>
<client>
<endpoint address="http://XXXX/ManagementService.svc"
binding="basicHttpBinding" bindingConfiguration="BasicHttpBinding_IManagementService"
contract="ManagementServiceReference.IManagementService"
name="BasicHttpBinding_IManagementService" behaviorConfiguration="ManagementServiceBehaviour"/>
</client>
<behaviors>
<endpointBehaviors>
<behavior name="ManagementServiceBehaviour">
<dataContractSerializer maxItemsInObjectGraph="2147483647"/>
</behavior>
</endpointBehaviors>
</behaviors>
Server Config:
<system.serviceModel>
<serviceHostingEnvironment multipleSiteBindingsEnabled="true" />
<behaviors>
<serviceBehaviors>
<behavior name="ManagementServiceBehaviour">
<serviceDebug includeExceptionDetailInFaults="true" />
<serviceMetadata httpGetEnabled="true" />
<dataContractSerializer ignoreExtensionDataObject="false" maxItemsInObjectGraph="2147483646" />
</behavior>
<behavior name="">
<serviceMetadata httpGetEnabled="true" />
<serviceDebug includeExceptionDetailInFaults="false" />
</behavior>
</serviceBehaviors>
</behaviors>
<bindings>
<basicHttpBinding>
<binding name="BasicHttpBinding" maxBufferSize="2147483647" maxReceivedMessageSize="2147483647" closeTimeout="01:50:00" openTimeout="01:50:00" sendTimeout="01:50:00" receiveTimeout="01:50:00" >
<readerQuotas maxDepth="128" maxStringContentLength="8388608" maxArrayLength="16384" maxBytesPerRead="4096" maxNameTableCharCount="16384" />
</binding>
</basicHttpBinding>
</bindings>
<services>
<service behaviorConfiguration="ManagementServiceBehaviour" name="BusinessLogic.Facade.EntityFacade.Services.ManagementService">
<endpoint binding="basicHttpBinding" bindingConfiguration="BasicHttpBinding" contract="BusinessLogic.Facade.EntityFacade.Contracts.IManagementService">
<identity>
<dns value="" />
</identity>
</endpoint>
</service>
</services>
</system.serviceModel>