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Term Service Contract
"I need a Term Service Contract for IT maintenance services to be provided by my company to a Nigerian banking client, starting March 2025, with specific provisions for data security and 24/7 support requirements."
1. Parties: Identifies and provides full details of the contracting parties, including registration numbers and addresses
2. Background: Sets out the context and purpose of the agreement
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules
4. Scope of Services: Detailed description of the services to be provided
5. Term and Renewal: Duration of the agreement and any renewal provisions
6. Service Provider's Obligations: Key responsibilities and commitments of the service provider
7. Client's Obligations: Key responsibilities and commitments of the client
8. Fees and Payment Terms: Pricing, payment schedule, invoicing, and payment methods
9. Service Levels: Performance standards and metrics for service delivery
10. Intellectual Property Rights: Ownership and usage rights of IP created or used during service provision
11. Confidentiality: Protection of confidential information and trade secrets
12. Liability and Indemnification: Allocation of risks and responsibilities for losses
13. Termination: Grounds and process for ending the agreement
14. Dispute Resolution: Process for resolving disagreements, including arbitration provisions
15. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law
1. Data Protection: Required when services involve processing personal data or sensitive information
2. Force Majeure: Addresses unforeseeable circumstances preventing contract performance
3. Insurance: Specifies required insurance coverage when services involve significant risks
4. Anti-Corruption: Required for high-value contracts or when dealing with government entities
5. Change Control: Needed when services may require modification during the term
6. Personnel: Important when specific individuals are key to service delivery
7. Non-Competition: Used when protecting against competitive activities is important
8. Assignment and Subcontracting: Required when there's a need to control transfer of rights or delegation of duties
9. Environmental Compliance: Necessary for services with environmental impact
10. Local Content: Required for contracts subject to Nigerian local content requirements
1. Schedule 1 - Service Specifications: Detailed technical specifications of the services
2. Schedule 2 - Service Levels and KPIs: Specific metrics and standards for measuring service performance
3. Schedule 3 - Fee Schedule: Detailed breakdown of fees, rates, and payment terms
4. Schedule 4 - Key Personnel: List of key staff members and their roles
5. Schedule 5 - Implementation Plan: Timeline and milestones for service implementation
6. Schedule 6 - Required Insurance Coverage: Details of insurance types and coverage levels
7. Appendix A - Form of Service Report: Template for regular service performance reporting
8. Appendix B - Change Request Form: Standard form for requesting and documenting changes to services
Authors
Oil and Gas
Information Technology
Professional Services
Construction
Facilities Management
Manufacturing
Healthcare
Telecommunications
Banking and Finance
Education
Energy
Transportation and Logistics
Mining
Agricultural Services
Legal
Procurement
Operations
Commercial
Finance
Risk and Compliance
Business Development
Contract Administration
Project Management
Service Delivery
Legal Counsel
Contract Manager
Procurement Manager
Operations Director
Commercial Manager
Project Manager
Business Development Manager
Risk Manager
Compliance Officer
Finance Director
General Manager
Chief Operating Officer
Service Delivery Manager
Account Manager
Human Resources Manager
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