The Business Retainer Agreement serves as a foundational document for establishing long-term professional service arrangements in Singapore. This agreement type is particularly useful when businesses require regular, ongoing access to professional services without executing separate contracts for each service instance. It typically includes detailed service specifications, payment structures, performance metrics, and compliance requirements aligned with Singapore's legal framework. The document provides clarity on service scope, confidentiality obligations, intellectual property rights, and dispute resolution mechanisms while ensuring adherence to Singapore's business regulations and professional standards.
Business Retainer Agreement for Singapore
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Key Requirements PROMPT example:
Business Retainer Agreement
"Need a Business Retainer Agreement for our IT consulting firm to provide ongoing technical support and maintenance services to a Singapore-based fintech startup, with monthly reporting requirements and specific service level agreements starting March 2025."
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1. Parties: Identification and details of the service provider and client
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of services to be provided under the retainer
5. Payment Terms: Retainer fee, payment schedule, and billing procedures
6. Term and Termination: Duration of agreement and termination provisions
7. Confidentiality: Protection of confidential information and trade secrets
8. Governing Law: Specification of Singapore law as governing law
1. Service Levels: Specific performance metrics and standards - use when specific deliverables or performance metrics need to be measured
2. Intellectual Property: Ownership and usage rights of IP created during service provision - use when services involve creation of intellectual property
3. Data Protection: PDPA compliance and data handling procedures - use when personal data processing is involved
4. Non-Compete: Restrictions on competitive activities - use when protecting against competition is crucial
5. Force Majeure: Provisions for unforeseeable circumstances - use when long-term commitments are involved
1. Schedule of Services: Detailed breakdown of services covered under the retainer
2. Fee Schedule: Detailed breakdown of fees, rates, and payment terms
3. Service Level Agreement: Specific performance metrics and standards
4. Key Personnel: List of key team members and their roles
5. Compliance Requirements: Industry-specific compliance requirements and certifications
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