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Data Furnisher Agreement for Hong Kong

Data Furnisher Agreement Template for Hong Kong

A comprehensive legal agreement governed by Hong Kong law that establishes the terms and conditions for the provision of data between parties. This document details the specifications for data sharing, including data quality standards, privacy compliance requirements under Hong Kong's Personal Data (Privacy) Ordinance, security measures, usage restrictions, and liability allocation. It incorporates specific provisions for data protection, confidentiality, and regulatory compliance within the Hong Kong jurisdiction, while establishing clear guidelines for data handling, transmission, and storage.

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What is a Data Furnisher Agreement?

The Data Furnisher Agreement is essential for organizations engaged in systematic data sharing arrangements in Hong Kong. This document is particularly crucial when businesses need to establish formal arrangements for regular data provision, such as credit information sharing, customer data processing, or ongoing data services. The agreement ensures compliance with Hong Kong's Personal Data (Privacy) Ordinance and related regulations while protecting both the data provider's and recipient's interests. It typically includes detailed specifications about data quality, transmission methods, security requirements, and usage limitations, making it particularly relevant for financial institutions, credit reporting agencies, and businesses handling sensitive customer information. The agreement addresses key concerns about data protection, confidentiality, and liability allocation, while incorporating specific requirements of Hong Kong's legal and regulatory framework.

What sections should be included in a Data Furnisher Agreement?

1. Parties: Identification of the data furnisher and data recipient, including full legal names and registered addresses

2. Background: Context of the agreement, relationship between parties, and purpose of data sharing arrangement

3. Definitions: Detailed definitions of key terms used throughout the agreement, including technical terms related to data

4. Scope of Data Provision: Details of what data will be furnished, frequency, and format of provision

5. Data Quality Standards: Required standards for data accuracy, completeness, and timeliness

6. Privacy and Data Protection Compliance: Obligations regarding compliance with Hong Kong privacy laws and regulations

7. Security Requirements: Mandatory security measures for data transmission, storage, and handling

8. Use Restrictions: Limitations on how the furnished data may be used, processed, or shared

9. Representations and Warranties: Parties' assertions regarding data quality, rights to share, and compliance

10. Fees and Payment: Financial terms for data provision services

11. Term and Termination: Duration of agreement and circumstances for termination

12. Confidentiality: Protection of confidential information exchanged under the agreement

13. Liability and Indemnification: Allocation of risks and responsibilities between parties

14. Dispute Resolution: Process for resolving disputes under Hong Kong law

15. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law

What sections are optional to include in a Data Furnisher Agreement?

1. Data Breach Protocol: Specific procedures for handling data breaches, used when handling sensitive data or required by regulation

2. Audit Rights: Rights to audit data handling practices, included when compliance verification is crucial

3. Business Continuity: Requirements for maintaining continuous data provision, important for critical data services

4. Intellectual Property Rights: Specific IP provisions when furnished data includes proprietary information

5. Insurance Requirements: Specific insurance coverage requirements, included for high-risk data sharing

6. Third Party Rights: Rights of third parties under the agreement, relevant when data subjects are third parties

7. Cross-border Data Transfer: Specific provisions for international data transfers, needed when data crosses borders

What schedules should be included in a Data Furnisher Agreement?

1. Schedule 1 - Data Specifications: Detailed technical specifications of data to be furnished, including format, fields, and structure

2. Schedule 2 - Service Levels: Specific performance metrics and service levels for data provision

3. Schedule 3 - Fee Schedule: Detailed breakdown of fees and payment terms

4. Schedule 4 - Security Standards: Technical security requirements and protocols

5. Schedule 5 - Contact Details: Key contacts and escalation matrix for both parties

6. Appendix A - Data Fields Dictionary: Comprehensive list and description of all data fields to be furnished

7. Appendix B - Compliance Checklist: Checklist of regulatory requirements and compliance measures

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Licensing Agreement

Sector

IP

Cost

Free to use
Relevant legal definitions



































Clauses

































Relevant Industries

Financial Services

Banking

Insurance

Credit Reporting

Technology

Telecommunications

Healthcare

E-commerce

Real Estate

Professional Services

Data Analytics

Relevant Teams

Legal

Compliance

Data Governance

Information Security

Risk Management

Operations

Information Technology

Data Analytics

Business Development

Regulatory Affairs

Privacy Office

Contract Management

Relevant Roles

Chief Data Officer

Data Protection Officer

Compliance Manager

Legal Counsel

Privacy Officer

Information Security Manager

Risk Manager

Data Governance Manager

Business Development Manager

Operations Director

Chief Technology Officer

Contract Manager

Regulatory Compliance Officer

Data Analytics Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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