The Third Party SLA is essential for organizations in Singapore engaging external service providers where specific performance standards are crucial. This document establishes measurable service levels, monitoring mechanisms, and consequences for service failures. It complies with Singapore's legal framework, including the Contracts Act, PDPA, and industry-specific regulations. The agreement typically includes detailed service metrics, reporting requirements, service credits, and escalation procedures, providing a clear framework for managing third-party service relationships and ensuring accountability.
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1. Parties: Identification of service provider and customer with full legal names
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Service Levels: Detailed description of service levels, metrics, and measurement methods
5. Performance Monitoring: Methods and frequency of service level monitoring
6. Service Credits: Compensation mechanism for service level failures
7. Reporting Requirements: Regular reporting obligations and formats
1. Industry-Specific Compliance: Additional compliance requirements for regulated industries such as financial services, healthcare, or telecommunications
2. Data Localization: Specific requirements for data storage location and handling of sensitive data
3. Business Continuity: Disaster recovery and business continuity requirements for critical services
1. Schedule 1 - Service Level Metrics: Detailed technical specifications of service levels and performance indicators
2. Schedule 2 - Service Credit Calculation: Formula and examples for calculating service credits for service level breaches
3. Schedule 3 - Report Templates: Standard formats for regular service level reporting and monitoring
4. Schedule 4 - Contact Matrix: Key contacts and escalation procedures for both parties
5. Schedule 5 - Technical Requirements: Detailed technical specifications and requirements for service delivery
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