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Service Trust Agreement

Service Trust Agreement Template for England and Wales

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Key Requirements PROMPT example:

Service Trust Agreement

"I need a Service Trust Agreement for managing property assets for three beneficiaries, with quarterly performance reporting requirements and specific provisions for property maintenance services, to be effective from March 2025."

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Document background
A Service Trust Agreement is utilized when parties wish to establish a trust structure that includes specific service delivery components under English law. This document is particularly relevant when assets or services need to be managed through a trust arrangement with defined service obligations. The agreement details trustee duties, service specifications, beneficiary rights, and operational requirements, while ensuring compliance with English trust law principles. It's commonly used in professional services, wealth management, and property administration contexts where ongoing service provision is integral to the trust arrangement.
Suggested Sections

1. Parties: Identification and details of the trustee(s), settlor, and beneficiaries

2. Background: Context and purpose of the service trust arrangement

3. Definitions: Key terms used throughout the agreement

4. Trust Declaration: Formal declaration of trust and its purposes

5. Trustee Powers and Duties: Specific powers and obligations of trustees

6. Service Provisions: Details of services to be provided under the trust

7. Duration and Termination: Term of the trust and termination provisions

Optional Sections

1. Investment Powers: Specific investment authorities and restrictions - include when trust involves investment activities

2. Remuneration: Trustee compensation provisions - include when trustees are to be paid for their services

3. Delegation: Powers to delegate trustee duties - include when delegation of duties may be required

Suggested Schedules

1. Schedule 1 - Trust Property: Detailed list of assets held in trust

2. Schedule 2 - Services: Detailed description of services to be provided

3. Schedule 3 - Fee Schedule: Details of any fees or charges applicable

4. Appendix A - Service Level Agreement: Specific service standards and performance metrics

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

































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Relevant Industries
Relevant Teams
Relevant Roles
Industries

Trustee Act 1925: Fundamental legislation defining trustee powers and duties, including investment powers and procedures for appointment and retirement of trustees

Trustee Act 2000: Modern update to trust law establishing statutory duty of care, delegation powers, and modernized investment powers for trustees

Trust Registration Service Regulations: Regulations under Money Laundering Regulations requiring registration of certain types of trusts and compliance with anti-money laundering provisions

Financial Services and Markets Act 2000: Regulatory framework for financial services activities that may be relevant if trust involves regulated financial activities

Contracts (Rights of Third Parties) Act 1999: Legislation governing third-party enforcement rights in contractual arrangements including trust agreements

Law of Property Act 1925: Legislation governing property aspects of trust arrangements and property law considerations

Perpetuities and Accumulations Act 2009: Law governing trust duration rules and restrictions on income accumulation within trusts

Common Law Fiduciary Duties: Body of case law establishing fiduciary duties, trust formation requirements, and the three certainties principle

UK GDPR and Data Protection Act 2018: Data protection legislation governing the handling of personal data within trust arrangements and associated documentation

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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