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Development Service Agreement
"I need a Development Service Agreement for my fintech startup to engage an external development firm to build our mobile payment app, with specific provisions for data security and compliance with Singapore's payment systems regulations, planned to commence in March 2025."
1. Parties: Identification of contracting parties with full legal names and addresses
2. Background: Context of the agreement and brief description of why parties are entering into it
3. Definitions: Key terms used throughout the agreement and their meanings
4. Scope of Services: Detailed description of development services to be provided
5. Project Timeline: Delivery schedule, milestones, and completion dates
6. Payment Terms: Fees, payment schedule, and invoicing requirements
7. Intellectual Property Rights: Ownership and licensing of developed materials
8. Confidentiality: Protection of confidential information and trade secrets
9. Term and Termination: Duration of agreement and termination conditions
1. Change Management: Process for handling change requests and scope modifications in complex projects
2. Third-Party Materials: Provisions regarding use of third-party software/materials and associated licenses
3. Data Protection: PDPA compliance requirements and data handling procedures
4. Source Code Escrow: Terms for source code storage and release conditions for critical software
5. Service Level Agreement: Performance metrics, standards, and remedies for ongoing service components
1. Schedule 1 - Scope of Work: Detailed technical specifications and requirements
2. Schedule 2 - Project Timeline: Detailed project schedule with milestones and deadlines
3. Schedule 3 - Fee Schedule: Detailed breakdown of fees and payment terms
4. Schedule 4 - Acceptance Criteria: Specific criteria for accepting deliverables
5. Schedule 5 - Service Levels: Detailed performance metrics and remedies
6. Appendix A - Technical Requirements: Detailed technical specifications and system requirements
7. Appendix B - Contact Details: Key personnel and escalation contacts for both parties
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