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Business Development Contract Template for Singapore

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Key Requirements PROMPT example:

Business Development Contract

"Need a Business Development Contract for engaging a consultant to help expand our Singapore-based fintech company into Malaysia and Indonesia, with a success-fee structure and quarterly performance reviews starting from March 2025."

Document background
The Business Development Contract serves as a crucial legal framework for companies operating in Singapore seeking to expand their business through professional business development services. This document is essential when engaging external expertise for market expansion, client acquisition, or strategic partnership development. It addresses key aspects such as service scope, performance metrics, compensation structures, and protection of confidential information, all while adhering to Singapore's legal requirements. The contract type is particularly relevant for businesses looking to establish clear, enforceable terms for their business development initiatives while maintaining compliance with Singapore's regulatory environment.
Suggested Sections

1. Parties: Identification and details of the contracting parties

2. Background/Recitals: Context and purpose of the business development arrangement

3. Definitions: Key terms used throughout the agreement

4. Scope of Services: Detailed description of business development activities and deliverables

5. Term and Termination: Duration of the agreement and termination provisions

6. Compensation: Payment terms, fees, and commission structures

7. Obligations of Parties: Specific responsibilities of each party

8. Confidentiality: Protection of confidential information and trade secrets

9. Governing Law: Specification of Singapore law as governing law

Optional Sections

1. Non-Competition: Restrictions on competitive activities (include when protecting market position is crucial)

2. Intellectual Property Rights: Ownership and usage of IP (include when IP is created or shared during business development)

3. Force Majeure: Provisions for unforeseen circumstances (recommended for longer-term contracts or high-value agreements)

4. Data Protection: PDPA compliance provisions (required when personal data processing is involved)

5. Insurance: Insurance requirements (include for high-risk activities or large-scale projects)

Suggested Schedules

1. Service Level Agreement: Detailed performance metrics and standards

2. Commission Structure: Detailed breakdown of commission calculations and payments

3. Territory Schedule: Definition of geographical areas covered

4. Target Customers: List of potential customers or market segments

5. Reporting Templates: Standard formats for activity and performance reporting

6. Contact Details: Key personnel and communication protocols

Authors

Alex Denne

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

Relevant legal definitions


























Clauses






























Industries

Contract Law (Chapter 53A): Singapore's primary legislation governing contract formation, enforcement, and remedies for breach of contract

Electronic Transactions Act (Chapter 88): Legislation governing electronic contracts, digital signatures, and electronic transactions in Singapore

Competition Act (Chapter 50B): Law ensuring fair competition and preventing anti-competitive practices in business dealings

Companies Act (Chapter 50): Principal legislation governing the formation, operation, and regulation of companies in Singapore

Business Names Registration Act 2014: Law governing the registration and regulation of business names in Singapore

Personal Data Protection Act 2012: Legislation governing the collection, use, disclosure, and protection of personal data in Singapore

Consumer Protection (Fair Trading) Act: Law protecting consumers against unfair practices and ensuring fair trading

Employment Act (Chapter 91): Primary legislation governing employment relations and working conditions in Singapore

Work Injury Compensation Act: Law providing a framework for workers to claim compensation for work-related injuries

Central Provident Fund Act: Legislation governing Singapore's social security savings scheme and employer contributions

Copyright Act: Law protecting original works and intellectual property rights related to copyright

Trade Marks Act: Legislation governing the registration and protection of trademarks in Singapore

Patents Act: Law governing the registration and protection of patents and inventions

Registered Designs Act: Legislation protecting the visual design of articles

Industry-Specific Regulations: Sector-specific laws and regulations that may apply depending on the business industry (e.g., financial services, healthcare)

Cross-border Transaction Rules: Regulations governing international business transactions and foreign investment in Singapore

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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