The Operating Management Agreement is a crucial document used when a business owner seeks to engage professional management expertise while retaining ownership of the assets or business. This arrangement is common in various sectors across India, particularly in hospitality, healthcare, and real estate. The agreement comprehensively addresses all aspects of the management relationship, including operational control, service standards, financial arrangements, and risk allocation. It must comply with Indian legal requirements, including the Indian Contract Act, 1872, Companies Act, 2013, and relevant industry-specific regulations. The document is particularly important in scenarios where specialized operational expertise is required, or when owners want to separate ownership from management functions. The Operating Management Agreement typically includes detailed provisions for performance metrics, reporting requirements, fee structures, and termination conditions, making it a fundamental tool for establishing clear governance and operational frameworks.
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1. Parties: Identification of the Owner/Company and the Operator/Manager with complete legal details
2. Background: Context of the agreement, brief description of the business and purpose of the management arrangement
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules of interpretation
4. Appointment and Scope: Terms of appointment of the operator and detailed scope of management services
5. Term and Renewal: Duration of the agreement and conditions for renewal
6. Operator's Rights and Obligations: Comprehensive list of rights granted to and obligations imposed on the operator
7. Owner's Rights and Obligations: Rights retained by and obligations of the owner
8. Financial Terms: Management fees, payment terms, expenses, and financial reporting requirements
9. Operating Standards: Performance standards, KPIs, and quality requirements
10. Staff and Employment: Terms regarding employment, staffing responsibilities, and workforce management
11. Intellectual Property: Rights and restrictions regarding use of IP, branding, and proprietary information
12. Confidentiality: Protection and handling of confidential information
13. Indemnification and Liability: Mutual indemnities and limitation of liability provisions
14. Insurance: Required insurance coverage and related obligations
15. Termination: Grounds for termination, termination process, and consequences
16. Post-Termination Obligations: Obligations of parties after termination including handover process
17. Dispute Resolution: Process for resolving disputes including jurisdiction and governing law
18. General Provisions: Standard boilerplate clauses including notices, amendments, and force majeure
1. Non-Compete: Restrictions on operator's competing activities - include when operator has access to sensitive business information
2. Environmental Compliance: Environmental obligations and standards - essential for industries with environmental impact
3. Crisis Management: Procedures for handling emergencies - important for high-risk operations or public-facing businesses
4. Technology Systems: Terms regarding use and maintenance of technology systems - relevant when IT systems are crucial to operations
5. Marketing and Promotion: Marketing responsibilities and guidelines - include for consumer-facing businesses
6. Asset Management: Specific provisions for managing physical assets - important for asset-heavy operations
7. Compliance with Specific Regulations: Industry-specific regulatory compliance requirements - add based on relevant sector
8. Third Party Contracts: Management of existing or future third party relationships - include when significant vendor relationships exist
1. Schedule 1 - Services Description: Detailed scope of management services and responsibilities
2. Schedule 2 - Fee Structure: Detailed breakdown of management fees, incentives, and payment calculations
3. Schedule 3 - Performance Standards: Specific KPIs, performance metrics, and measurement criteria
4. Schedule 4 - Property/Asset Details: List and description of properties/assets under management
5. Schedule 5 - Employee Information: Details of key personnel, organizational structure, and staffing requirements
6. Schedule 6 - Operating Procedures: Standard operating procedures and management protocols
7. Schedule 7 - Required Insurance: Specific insurance requirements and coverage details
8. Schedule 8 - Initial Business Plan: Initial operational and financial plans
9. Appendix A - Power of Attorney: If required, detailed powers granted to the operator
10. Appendix B - Form of Reports: Templates for required operational and financial reports
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